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A BILL TO BE ENTITLED
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AN ACT
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relating to a permanent endowment to support the construction, |
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acquisition, improvement, and equipping of buildings, facilities, |
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and other improvements at public junior colleges. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Chapter 62, Education Code, is amended by adding |
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Subchapter H to read as follows: |
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SUBCHAPTER H. DISTRIBUTIONS FROM |
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PERMANENT PUBLIC COMMUNITY COLLEGE FUND |
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Sec. 62.161. PURPOSE. The purpose of this subchapter is to |
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provide for an equitable allocation of the funds available under |
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Section 21, Article VII, Texas Constitution, to support the |
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construction, acquisition, improvement, and equipping of |
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buildings, facilities, and other improvements at public junior |
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colleges. |
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Sec. 62.162. DEFINITIONS. In this subchapter: |
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(1) "Eligible institution" means a junior college |
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district. |
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(2) "Fund" means the permanent public community |
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college fund. |
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Sec. 62.163. ALLOCATIONS. (a) Beginning with the first |
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state fiscal year for which the comptroller certifies that, based |
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on the assets in the fund, there is sufficient purchasing power in |
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the fund to allocate money for the purposes of this subchapter, an |
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eligible institution is entitled to receive an amount allocated in |
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accordance with this subchapter from the amounts distributed for |
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that year from the permanent public community college fund created |
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by Section 21, Article VII, Texas Constitution. |
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(b) The comptroller shall distribute amounts allocated |
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under this subchapter only on presentation of a claim and issuance |
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of a warrant in accordance with Section 403.071, Government Code. |
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An eligible institution may not present a claim to be paid from any |
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amount allocated under this subchapter before the delivery of goods |
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or services, except for the payment of principal or interest on |
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bonds or notes or for a payment for a book or other published |
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library material as authorized by Section 2155.386, Government |
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Code. |
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(c) In each state fiscal year, the comptroller shall |
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distribute to eligible institutions the total amount appropriated |
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from the fund for that fiscal year. The amount shall be allocated |
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to the eligible institutions based on an equitable formula adopted |
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by the legislature to carry out the purposes of the fund as |
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established by Section 21, Article VII, Texas Constitution. The |
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coordinating board may make recommendations regarding the |
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equitable formula and may provide assistance regarding the formula |
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as directed by the legislature. |
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Sec. 62.164. USE OF ALLOCATED AMOUNTS. (a) An eligible |
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institution may use money received under this subchapter only for |
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the purposes prescribed by Section 21, Article VII, Texas |
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Constitution. |
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(b) Money received in a fiscal year by an eligible |
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institution under this subchapter that is not used in that fiscal |
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year by the institution may be held and used by the institution in |
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subsequent fiscal years for the purposes prescribed by this |
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subchapter. |
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SECTION 2. This Act takes effect January 1, 2016, but only |
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if the constitutional amendment proposed by the 84th Legislature, |
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Regular Session, 2015, to support the construction, acquisition, |
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improvement, and equipping of buildings, facilities, and other |
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improvements at public junior and community colleges is approved by |
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the voters. If that constitutional amendment is not approved by the |
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voters, this Act has no effect. |