78R8615 ESH-D

By:  Pitts                                                        H.B. No. 3246



A BILL TO BE ENTITLED

AN ACT

relating to the accounting basis used in connection with the 
permanent school fund.
	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:                        
	SECTION 1.  Chapter 43, Education Code, is amended by adding 
Section 43.020 to read as follows:
	Sec. 43.020.  ACCOUNTING BASIS FOR PERMANENT SCHOOL FUND.  
The State Board of Education shall keep the books for the permanent 
school fund on the accrual basis.
	SECTION 2.  This Act takes effect September 1, 2003.