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A BILL TO BE ENTITLED
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AN ACT
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relating to matching private grants given to enhance an additional |
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research activity at institutions of higher education. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 62.123(a), Education Code, is amended to |
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read as follows: |
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(a) An eligible institution that receives gifts or |
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endowments from private sources in a state fiscal year for the |
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purpose of enhancing research activities at the institution, |
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including a gift or endowment for endowed chairs, professorships, |
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facilities, equipment, program costs, [or] graduate stipends or |
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fellowships, or undergraduate research, is entitled to receive, out |
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of funds appropriated for the purposes of the program for that |
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fiscal year, a matching grant in an amount determined according to |
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the following rates: |
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(1) 50 percent of the amount of the gifts and |
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endowments, if the total amount of gifts and endowments is $100,000 |
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or more but not more than $999,999; |
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(2) 75 percent of the amount of the gifts and |
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endowments, if the total amount of gifts and endowments is $1 |
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million or more but not more than $1,999,999; or |
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(3) 100 percent of the amount of the gifts and |
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endowments, if the total amount of gifts and endowments is $2 |
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million or more. |
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SECTION 2. This Act takes effect September 1, 2013. |