| By: Zaffirini | S.B. No. 1113 | |
| (In the Senate - Filed March 5, 2013; March 12, 2013, read | ||
| first time and referred to Committee on Higher Education; | ||
| April 2, 2013, reported adversely, with favorable Committee | ||
| Substitute by the following vote: Yeas 7, Nays 0; April 2, 2013, | ||
| sent to printer.) | ||
| COMMITTEE SUBSTITUTE FOR S.B. No. 1113 | By: Zaffirini | |
|
|
||
|
|
||
| relating to matching private grants given to enhance additional | ||
| research activities at institutions of higher education. | ||
| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
| SECTION 1. Subsections (a) and (b), Section 62.123, | ||
| Education Code, are amended to read as follows: | ||
| (a) An eligible institution that receives gifts or | ||
| endowments from private sources in a state fiscal year for the | ||
| purpose of enhancing research activities at the institution, | ||
| including a gift or endowment for endowed chairs, professorships, | ||
| facilities, equipment, program costs, [ |
||
| fellowships, or undergraduate research, is entitled to receive, out | ||
| of funds appropriated for the purposes of the program for that | ||
| fiscal year, a matching grant in an amount determined according to | ||
| the following rates: | ||
| (1) 50 percent of the amount of the gifts and | ||
| endowments, if the total amount of gifts and endowments is $100,000 | ||
| or more but not more than $999,999; | ||
| (2) 75 percent of the amount of the gifts and | ||
| endowments, if the total amount of gifts and endowments is $1 | ||
| million or more but not more than $1,999,999; or | ||
| (3) 100 percent of the amount of the gifts and | ||
| endowments, if the total amount of gifts and endowments is $2 | ||
| million or more. | ||
| (b) An eligible institution is not entitled to matching | ||
| funds under the program for: | ||
| (1) a gift that has been pledged but has not been | ||
| received by the institution; | ||
| (2) a gift for undergraduate scholarships or financial | ||
| aid grants; or | ||
| (3) any portion of gifts or endowments received by the | ||
| institution from a single source in a state fiscal year in excess of | ||
| $10 million. | ||
| SECTION 2. This Act takes effect September 1, 2013. | ||
| * * * * * | ||