Bill Text: TX SB44 | 2015-2016 | 84th Legislature | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Relating to matching private grants given to enhance additional research activities at institutions of higher education.

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Passed) 2015-06-09 - Effective on 9/1/15 [SB44 Detail]

Download: Texas-2015-SB44-Introduced.html

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84R1115 KSD-D
By: Zaffirini S.B. No. 44

A BILL TO BE ENTITLED
AN ACT
relating to matching private grants given to enhance additional
research activities at institutions of higher education.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Sections 62.123(a) and (b), Education Code, are
amended to read as follows:
(a) An eligible institution that receives gifts or
endowments from private sources in a state fiscal year for the
purpose of enhancing research activities at the institution,
including a gift or endowment for endowed chairs, professorships,
facilities, equipment, program costs, [or] graduate stipends or
fellowships, or undergraduate research, is entitled to receive, out
of funds appropriated for the purposes of the program for that
fiscal year, a matching grant in an amount determined according to
the following rates:
(1) 50 percent of the amount of the gifts and
endowments, if the total amount of gifts and endowments is $100,000
or more but not more than $999,999;
(2) 75 percent of the amount of the gifts and
endowments, if the total amount of gifts and endowments is $1
million or more but not more than $1,999,999; or
(3) 100 percent of the amount of the gifts and
endowments, if the total amount of gifts and endowments is $2
million or more.
(b) An eligible institution is not entitled to matching
funds under the program for:
(1) a gift that has been pledged but has not been
received by the institution;
(2) a gift for undergraduate scholarships or
undergraduate financial aid grants; or
(3) any portion of gifts or endowments received by the
institution from a single source in a state fiscal year in excess of
$10 million.
SECTION 2. This Act takes effect September 1, 2015.