Bill Text: TX HB1472 | 2017-2018 | 85th Legislature | Comm Sub
NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Relating to investment by a public junior college district of public funds received from the management and development of mineral rights.
Spectrum: Moderate Partisan Bill (Republican 6-1)
Status: (Passed) 2017-06-01 - Effective on 9/1/17 [HB1472 Detail]
Download: Texas-2017-HB1472-Comm_Sub.html
Bill Title: Relating to investment by a public junior college district of public funds received from the management and development of mineral rights.
Spectrum: Moderate Partisan Bill (Republican 6-1)
Status: (Passed) 2017-06-01 - Effective on 9/1/17 [HB1472 Detail]
Download: Texas-2017-HB1472-Comm_Sub.html
85R3063 MM-D | ||
By: Capriglione, Goldman, Darby, | H.B. No. 1472 | |
King of Parker, Turner |
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relating to investment by a public junior college district of | ||
public funds received from the management and development of | ||
mineral rights. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Subchapter A, Chapter 2256, Government Code, is | ||
amended by adding Section 2256.0206 to read as follows: | ||
Sec. 2256.0206. AUTHORIZED INVESTMENTS: PUBLIC JUNIOR | ||
COLLEGE DISTRICT FUNDS FROM MANAGEMENT AND DEVELOPMENT OF MINERAL | ||
RIGHTS. (a) In addition to other investments authorized under | ||
this subchapter, the governing board of a public junior college | ||
district may invest funds received by the district from a lease or | ||
contract for the management and development of land owned by the | ||
district and leased for oil, gas, or other mineral development in | ||
any investment authorized to be made by a trustee under Subtitle B, | ||
Title 9, Property Code (Texas Trust Code). | ||
(b) Funds invested by the governing board of a public junior | ||
college district under this section shall be segregated and | ||
accounted for separately from other funds of the district. | ||
SECTION 2. This Act takes effect September 1, 2017. |