Bill Text: TX HB3644 | 2015-2016 | 84th Legislature | Introduced
Bill Title: Relating to establishing a student grant program administered by the Texas Higher Education Coordinating Board funded by depository interest and earnings on certain unclaimed original land grant mineral proceeds.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2015-03-23 - Referred to Appropriations [HB3644 Detail]
Download: Texas-2015-HB3644-Introduced.html
84R9506 PMO-D | ||
By: Guillen | H.B. No. 3644 |
|
||
|
||
relating to establishing a student grant program administered by | ||
the Texas Higher Education Coordinating Board funded by depository | ||
interest and earnings on certain unclaimed original land grant | ||
mineral proceeds. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Subchapter C, Chapter 61, Education Code, is | ||
amended by adding Section 61.0908 to read as follows: | ||
Sec. 61.0908. STUDENT GRANT PROGRAM FOR CERTAIN HEIRS OF | ||
GRANTEES OF ORIGINAL LAND GRANTS. (a) In this section, "original | ||
land grant" means an initial conveyance of real property in this | ||
state, as evidenced by a certificate, title, or patent from: | ||
(1) the Crown of Spain; | ||
(2) Mexico; | ||
(3) the Republic of Texas; or | ||
(4) this state. | ||
(b) The board shall establish and administer a grant program | ||
to increase the participation at institutions of higher education | ||
by heirs of grantees of original land grants whose descendency is | ||
established by a final, unappealable judgment. | ||
(c) The board by rule shall: | ||
(1) design the program established under Subsection | ||
(b); | ||
(2) prescribe the procedure an heir must use to apply | ||
for a grant; | ||
(3) prescribe the criteria for awarding a grant; and | ||
(4) specify the purposes for which a grant may be used. | ||
(d) The comptroller may distribute to the board money | ||
appropriated for the purposes of the program in an amount equal to | ||
the amount of depository interest and other earnings as provided | ||
under Section 74.604(c), Property Code. | ||
(e) The board may: | ||
(1) solicit and accept gifts and grants from any | ||
private or public source for the purposes of this section; and | ||
(2) contract with another entity for the | ||
administration of the program. | ||
(f) The total amount of grants provided under this section | ||
may not exceed the amount of money available for the program under | ||
this section. | ||
SECTION 2. Subchapter D, Chapter 74, Property Code, is | ||
amended by adding Section 74.3014 to read as follows: | ||
Sec. 74.3014. DELIVERY OF UNCLAIMED MINERAL PROCEEDS. (a) | ||
The comptroller shall determine the amount of unclaimed mineral | ||
proceeds delivered to the comptroller without the information that | ||
the comptroller requires under Section 74.501(c) for a claimant to | ||
assert a claim for the mineral proceeds. | ||
(b) The comptroller shall annually publish a disclosure of | ||
the amount determined under Subsection (a) in a manner determined | ||
appropriate by the comptroller, including posting on the | ||
comptroller's Internet website or publishing in a newspaper of | ||
general circulation in each county in which is located a well the | ||
production from which resulted in proceeds included in the amount | ||
determined under Subsection (a). | ||
SECTION 3. Section 74.601(b), Property Code, is amended to | ||
read as follows: | ||
(b) Except as provided by Section 74.604, the [ |
||
comptroller shall deposit to the credit of the general revenue | ||
fund: | ||
(1) all funds, including marketable securities, | ||
delivered to the comptroller under this chapter or any other | ||
statute requiring the delivery of unclaimed property to the | ||
comptroller; | ||
(2) all proceeds from the sale of any property, | ||
including marketable securities, under this chapter; | ||
(3) all funds that have escheated to the state under | ||
Chapter 71, except that funds relating to escheated real property | ||
shall be deposited according to Section 71.202; and | ||
(4) any income derived from investments of the | ||
unclaimed money. | ||
SECTION 4. Section 74.602, Property Code, is amended to | ||
read as follows: | ||
Sec. 74.602. USE OF MONEY. Except as provided by Section | ||
61.0908, Education Code, Section 381.004, Local Government Code, | ||
and Section 74.604 of this code, the comptroller shall use the | ||
unclaimed money received under this chapter or any other statute | ||
requiring the delivery of unclaimed property to the comptroller to | ||
pay the claims of persons or states establishing ownership of | ||
property in the possession of the comptroller under this chapter or | ||
under any other unclaimed property or escheat statute. | ||
SECTION 5. Subchapter G, Chapter 74, Property Code, is | ||
amended by adding Section 74.604 to read as follows: | ||
Sec. 74.604. USE OF CERTAIN UNCLAIMED MINERAL PROCEEDS. | ||
(a) The comptroller shall deposit the amount determined under | ||
Section 74.3014 to the credit of an account in the general revenue | ||
fund. Money in that account may be appropriated only to pay the | ||
claims of persons establishing ownership of the mineral proceeds, | ||
except as provided by Subsection (b). | ||
(b) Interest and other earnings on money in the account are | ||
exempt from Sections 404.071(e)-(g), Government Code, and the | ||
comptroller shall retain in the account all depository interest and | ||
other earnings accruing on the amount in the account. The | ||
accumulated interest and other earnings in the account may be | ||
appropriated only for distribution to the Texas Higher Education | ||
Coordinating Board for use in accordance with Section 61.0908, | ||
Education Code. | ||
SECTION 6. (a) The changes in law made by this Act apply to | ||
unclaimed mineral proceeds in the possession of the comptroller of | ||
public accounts on or after the effective date of this Act. | ||
(b) The Texas Higher Education Coordinating Board shall | ||
ensure that the student grant program described by Section 61.0908, | ||
Education Code, as added by this Act, is established not later than | ||
January 1, 2016. | ||
SECTION 7. This Act takes effect September 1, 2015. |