Amend HB 2914 (Senate Committee Printing) by adding the
following appropriately numbered SECTIONS to the bill and
renumbering subsequent SECTIONS accordingly:
      SECTION _____.  Subsection (d), Section 51.0031, Education
Code, is amended to read as follows:
      (d)  As used in this section, "prudent person standard" is
the standard of care described in Article VII, Section 11b, of the
Texas Constitution, and means that standard of judgment and care
that prudent investors, exercising reasonable care, skill, and
caution, would acquire or retain in light of the purposes, terms,
distribution requirements, and other circumstances of the fund then
prevailing, taking into consideration the investment of all the
assets of the fund rather than a single investment <persons of
ordinary prudence, discretion, and intelligence exercise in the
management of their affairs in regard to the investments of their
funds considering probable income as well as probable safety of
their capital>.
      SECTION _____.  Subsection (a), Section 163.004, Property
Code, is amended to read as follows:
      (a)  A <Except as provided by Subsection (e), the> governing
board may appropriate for expenditure, for the uses and purposes
for which the fund is established, the net appreciation, realized
and unrealized, in the fair market value of the assets of an
endowment fund over the historic dollar value of the fund to the
extent prudent under the standard provided by Section 163.007.
      SECTION _____.  Subsection (e), Section 163.004, Property
Code, is repealed.