Bill Text: TX HB3353 | 2013-2014 | 83rd Legislature | Introduced

Texas House Bill 3353 (Prior Session Legislation)

Introduced

Bill Title: Relating to the investment of funds by the governing boards of certain institutions of higher education.

Sponsorship: Partisan Bill (Republican 1)

Status: (Introduced - Dead) 2013-05-02 - Laid on the table subject to call [HB3353 Detail]

Download: Texas-2013-HB3353-Introduced.html



	By: Frank	H.B. No. 3353



	A BILL TO BE ENTITLED
	AN ACT
	relating to the investment of funds by the governing boards of
	certain institutions of higher education.
	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
	SECTION 1. Section 51.0031, Education Code, is amended by
	adding Subsection (c-1) to read as follows:
	(c-1) If a governing board does not have under its control
	at least $25 million in book value of endowment funds, the governing
	board may contract to pool its funds described in this section with
	another institution that meets the $25 million in book value of
	endowment funds threshold established under Subsection (c), and
	have its funds invested by that governing board under prudent
	person standards.
	SECTION 2. This Act takes effect September 1, 2013.