By: Burrows H.J.R. No. 13
 
 
 
A JOINT RESOLUTION
  proposing a constitutional amendment establishing the Texas
  university fund to provide funding for research activities
  conducted by public institutions of higher education in the Texas
  Tech University System or the University of Houston System.
         BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Article VII, Texas Constitution, is amended by
  adding Section 21 to read as follows:
         Sec. 21.  (a) In this section, "fund" means the Texas
  university fund.
         (b)  The Texas university fund is established to provide a
  dedicated source of funding for research activities conducted by
  public institutions of higher education in the Texas Tech
  University System or the University of Houston System.
         (c)  The fund consists of money transferred or deposited to
  the credit of the fund and any interest or other return on the
  investment assets of the fund.
         (d)  The fund shall be administered by a board of directors.
  The board consists of six members, appointed as follows:
               (1)  three members of the board of regents of the Texas
  Tech University System, selected by the chair of that board of
  regents;
               (2)  three members of the board of regents of the
  University of Houston System, selected by the chair of that board of
  regents; and
         (e)  The fund shall be invested in the manner and according
  to the standards provided for investment of the permanent
  university fund. The expenses of managing the investments of the
  fund shall be paid from the fund.
         (f)  For each state fiscal biennium, the legislature may
  appropriate all or a portion of the total return on all investment
  assets of the fund to the Texas Tech University System and the
  University of Houston System in equal amounts to pay for research
  activities conducted by component institutions of the respective
  systems. The board of regents of each system shall determine the
  manner of allocating money appropriated to the system from the fund
  to component institutions of the system.
         SECTION 2.  This proposed constitutional amendment shall be
  submitted to the voters at an election to be held May 7, 2022. The
  ballot shall be printed to permit voting for or against the
  proposition: "The constitutional amendment establishing the Texas
  university fund to provide funding for research activities
  conducted by public institutions of higher education in the Texas
  Tech University System or the University of Houston System."