By: Huffman S.B. No. 1333
 
 
 
   
 
 
A BILL TO BE ENTITLED
 
AN ACT
         relating to the creation of the Texas state buildings
  preservation endowment fund.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Section 443.0102(b), Government Code, is amended
  to read as follows:
         Sec. 443.0102(b). The Texas state buildings preservation
  endowment [Capitol] fund created by Section 443.0103 [443.0101] is
  not subject to Subchapter F, Chapter 404. A provision of this
  chapter or other law that provides for the deposit of money or
  another thing of value into the fund prevails over Subchapter F,
  Chapter 404.
         SECTION 2.  Section 443.0103, Government Code, is amended to
  read as follows:
         Sec. 443.0103.  [CAPITAL RENEWAL] TEXAS STATE BUILDINGS
  PRESERVATION ENDOWMENT [TRUST] FUND. (a) The Texas state buildings
  preservation [capital renewal] endowment [trust] fund is created as
  a [trust] fund outside the treasury to maintain, preserve,
  rehabilitate, and restore the buildings and grounds over which the
  board has authority. The fund is composed of:
               (1)  Money transferred or appropriated to the fund by
  the legislature;
               (2)  Money transferred to the fund from former capital
  renewal trust fund, Governor's Mansion renewal trust fund and the
  State Cemetery preservation trust fund;
               (3)  gifts, grants, and donations contributed to the
  fund for a purpose for which money in the fund may be used under this
  section; and
               (4)  the returns received from investment of money in
  the fund.
  [with the comptroller and shall be administered by the board, as a
  trustee on behalf of the people of this state, to maintain and
  preserve the Capitol, the General Land Office Building, their
  contents, and their grounds. The fund consists of money
  transferred to the fund:
               (1)  at the direction of the legislature; or
               (2)  in accordance with this section]
         (b)  In this section, "trust company" means the Texas
  Treasury Safekeeping Trust Company, and "board" means the state
  preservation board. The trust company shall hold, manage, and
  invest the fund. The trust company shall determine the amount
  available for distribution from the fund determined in accordance
  with a distribution policy that is adopted by the comptroller and
  designed to preserve the purchasing power of the fund's assets,
  provide a stable and predictable stream of annual distributions,
  and meet liquidity needs of the fund as appropriate. The expenses of
  managing the fund and its assets shall be paid from the fund. Except
  as provided by this section, money in the fund may not be used for
  any other purpose. 
         (c)  In managing the assets of the fund, through procedures
  and subject to restrictions the trust company considers
  appropriate, the trust company may acquire, exchange, sell,
  supervise, manage, or retain any kind of investment that a prudent
  investor, exercising reasonable care, skill, and caution, would
  acquire or retain in light of the purposes, terms, distribution
  requirements, liquidity requirements, and other circumstances of
  the fund then prevailing, taking into consideration the investment
  of all the assets of the fund rather than a single investment. The
  board will provide the trust company with a cash flow forecast at
  least annually, and more frequently as appropriate, for purposes of
  distribution and liquidity requirements.
         (d) The board may request an annual fund distribution not to
  exceed the amount the trust company determines available for
  distribution as provided under subsection (b). The amount
  distributed may only be used[(b) Money in the fund may be used only]
  for the purpose of maintaining, [and] preserving, rehabilitating,
  and restoring the buildings and grounds over which the board has
  authority. The board shall spend at least one-third of the funds
  distributed on projects at the Bob Bullock Texas State History
  Museum, with the exception of funds transferred from the former
  capital renewal trust fund, Governor 's Mansion renewal trust fund
  and the State Cemetery preservation trust fund. Distributed funds
  may be used to acquire land in close proximity to the State Cemetery
  for expansion of the cemetery with the written approval of the
  Legislative Budget Board. Money in the fund may not be used to pay
  salaries, employee benefits, costs associated with employee
  benefits, or administration, operating, or program costs of the
  board or the buildings and grounds over which the board has
  authority[the Capitol, the General Land Office Building, their
  contents, and their grounds].
         (e)  Subject to subsection (f), not more frequently than once
  per calendar year, the board may request an additional distribution
  from the fund in excess of the amount the trust company determines
  is available for distribution under the terms of subsection (b), to
  be used for the purposes described in subsection (d). The amount
  requested pursuant to this subsection shall not exceed the amount
  distributed to the board pursuant to the comptroller's policy in
  the preceding calendar year.
         (f)  The board may approve a distribution of the fund
  authorized under Subsection (e) after it certifies to the
  legislative budget board that:
               (1)  the board has reviewed and approved the use of the
  money;
               (2)  all purchases made with the money will conform to
  any applicable provision of law governing state procurement and
  contracting; and
               (3)  the money will not be used to:
                     (A)  pay salaries, employee benefits, costs
  associated with employee benefits, or administration, operating or
  program costs of the board or the buildings or grounds subject to
  its authority;
                     (B)  acquire new historic sites or real property;
  or
                     (C)  purchase capital equipment that is not
  related to the rehabilitation or restoration of a building or
  grounds.
         (g)  All expenditures by the board under this section are
  subject to audit by the state auditor.
         (h)  The board shall include in the strategic plan submitted
  under Section 2056.002 a report on each project funded using money
  in the fund during the two-year period preceding the date on which
  the board submits the plan and a list of each project the board
  anticipates will be funded using money in the fund for the period
  covered by the plan.
         [(c)The interest received from investment of money in the
  fund shall be credited to the fund.
         [(d)The board may transfer money from any account of the
  Capitol fund to the capital renewal trust fund, other than money
  that was donated to the board, derived from a security or other
  thing of value donated to the board, or earned as interest or other
  income on a donation to the board, if the board determines that
  after the transfer there will be a sufficient amount of money in the
  applicable account of the Capitol fund to accomplish the purposes
  for which the account was created.
         [(e)The board may transfer money from the capital renewal
  trust fund to any account of the Capitol fund, provided that money
  transferred shall only be used for the purposes outlined in
  Subsection (b).]
         SECTION 3.  On September 1, 2024, the unencumbered balance
  of the capital renewal trust fund is transferred to the comptroller
  of public accounts for deposit in the Texas state buildings
  preservation endowment fund created under Section 443.0103,
  Government Code, as amended by this Act. These transferred funds
  are considered available for expenditure under Subsection (e),
  Section 443.0103, Government Code, and are not subject to the
  one-third museum expenditure requirement in Subsection (d) of that
  Section.
         SECTION 4.  On September 1, 2024, the Governor 's Mansion
  renewal trust fund and the State Cemetery preservation trust fund
  are abolished and the unencumbered balances of those funds are
  transferred to the comptroller of public accounts for deposit in
  the Texas state buildings preservation endowment fund created under
  Section 443.0103, Government Code, as amended by this Act. These
  transferred funds are considered available for expenditure under
  Subsection (e), Section 443.0103, Government Code, and are not
  subject to the one-third museum expenditure requirement in
  Subsection (d) of that Section.
         SECTION 5.  On September 1, 2024, the following provisions
  of the Government Code are repealed:
               (1)  Section 443.0295;
               (2)  Section 2165.2565, as added by Chapter 72 (S.B.
  574), Acts of the 84th Legislature, Regular Session, 2015; and
               (3)  Section 2165.2565, as added by Chapter 932 (H.B.
  2206), Acts of the 84th Legislature, Regular Session, 2015.
         SECTION 6.  This Act takes effect September 1, 2023.