BILL ANALYSIS
Senate Research Center H.B. 4540
AUTHOR'S / SPONSOR'S STATEMENT OF INTENT
H.B. 4540 amends current law relating to disposition of proceeds from the development or sale of the rights to natural resources or minerals in land held by Webb County for the county permanent school fund.
RULEMAKING AUTHORITY
This bill does not expressly grant any additional rulemaking authority to a state officer, institution, or agency.
SECTION BY SECTION ANALYSIS
SECTION 1. Amends Subchapter E, Chapter 45, Education Code, by adding Section 45.114, as follows:
Sec. 45.114. DEVELOPMENT OR SALE OF RIGHTS TO NATURAL RESOURCES OR MINERALS IN LAND HELD FOR COUNTY PERMANENT SCHOOL FUND BY WEBB COUNTY. Authorizes the Commissioners Court of Webb County, notwithstanding former Subchapter E, Chapter 17, as that subchapter existed on May 1, 1995, to develop or sell the rights to natural resources or minerals in lands held in trust by Webb County under Section 6 (County School Lands; Proceeds of Sales; Investment: Available School Fund), Article VII (Education), Texas Constitution, and enter into an agreement described by Section 6(b)(2), Article VII, Texas Constitution.
SECTION 2. Effective date, contingent upon approval by the voters of the constitutional amendment proposed by H.J.R. No. 142, 81st Legislature, Regular Session, 2009: December 1, 2009.