SB 1232, 87th R.S. history

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SB 1232, 87th R.S.
Relating to the management and investment of the permanent school fund, including authorizing the creation of the Texas Permanent School Fund Corporation to manage and invest the fund and limiting the authority of the School Land Board to manage and invest the fund if the corporation is created.

Last action: See remarks for effective date

Author: Larry Taylor
Sponsor: Greg Bonnen

Remarks: This Act takes effect September 1, 2021, except Article 2 takes effect December 31, 2022, but only if the State Board of Education incorporates the Texas Permanent School Fund Corporation under Subchapter B, Chapter 43, Education Code, as added by this Act, on or before that date. If the State Board of Education does not incorporate the Texas Permanent School Fund Corporation on or before December 31, 2022, Article 2 has no effect.

Session Law Chapter:
Acts 2021, 87th R.S.,ch. 875, General and Special Laws of Texas

Signed legislation

Bill Analyses:
Committee Report (TLC)
Introduced (Senate Research Center)
Committee Report (Senate Research Center)
Committee Report (House Research Organization)

Subjects:
COMPTROLLER OF PUBLIC ACCOUNTS
EDUCATION, STATE BOARD OF
Education--Primary & Secondary--Finance
GENERAL LAND OFFICE
Governor
PERMANENT SCHOOL FUND
PERMANENT SCHOOL FUND CORPORATION, TEXAS
PERMANENT SCHOOL FUND INVESTMENT MANAGEMENT ORGANIZATION
Public Lands, Buildings & Resources
SCHOOL LAND BOARD
State Agencies, Boards & Commissions--Newly Proposed
State Finances--Management & Control

House Committee: Appropriations (Greg Bonnen, Trent Ashby, Cecil Bell, Giovanni Capriglione, Jay Dean, Alex Dominguez, Gary Gates, Mary González, Justin Holland, Donna Howard, Ann Johnson, Julie Johnson, Jarvis Johnson, Ina Minjarez, Geanie W. Morrison, John Raney, Toni Rose, Matt Schaefer, Carl Sherman, Sr., Lynn Stucky, Ed Thompson, Steve Toth, Gary VanDeaver, Armando Walle, Terry M. Wilson, Gene Wu, Erin Zwiener)
Minutes: May 18 2021 | May 19 2021
Senate Committee: Education (Brandon Creighton, Larry Taylor, Paul Bettencourt, Brian Birdwell, Bob Hall, Bryan Hughes, Eddie Lucio, Jr., José Menéndez, Angela Paxton, Charles Perry, Beverly Powell, Charles Schwertner, Royce West)

Index to Sections Affected

Texas Legislature Online


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