83R7146 JXC-D
 
  By: Orr, Howard, Otto, Darby, H.B. No. 3574
      Turner of Harris
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to the authority of the School Land Board to designate
  certain revenue for deposit in the real estate special fund account
  of the permanent school fund.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Section 51.401, Natural Resources Code, is
  amended by amending Subsection (a) and adding Subsection (a-1) to
  read as follows:
         (a)  Except as provided by Subsection (a-1), the [The] board
  may designate funds received from any land, mineral or royalty
  interest, real estate investment, or other interest, including
  revenue received from those sources, that is set apart to the
  permanent school fund under the constitution and laws of this state
  together with the mineral estate in riverbeds, channels, and the
  tidelands, including islands, for deposit in the real estate
  special fund account of the permanent school fund in the State
  Treasury to be used by the board as provided by this subchapter.
         (a-1)  The board may not designate revenue received from a
  mineral or royalty interest, other than revenue received from the
  sale of a mineral or royalty interest, for deposit in the real
  estate special fund account of the permanent school fund.
         SECTION 2.  This Act takes effect September 1, 2013.