Bill Text: TX HB2626 | 2011-2012 | 82nd Legislature | Introduced
Bill Title: Relating to the distribution of money appropriated from the national research university fund and to one or more audits of the information necessary to establish eligibility for that distribution.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2011-03-15 - Referred to Higher Education [HB2626 Detail]
Download: Texas-2011-HB2626-Introduced.html
82R12381 KEL-D | ||
By: Branch | H.B. No. 2626 |
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relating to the distribution of money appropriated from the | ||
national research university fund and to one or more audits of the | ||
information necessary to establish eligibility for that | ||
distribution. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Section 62.146, Education Code, is amended to | ||
read as follows: | ||
Sec. 62.146. ACCOUNTING STANDARDS; VERIFICATION OF | ||
INFORMATION. (a) The coordinating board by rule shall prescribe | ||
standard methods of accounting and standard methods of reporting | ||
information for the purpose of determining: | ||
(1) the eligibility of institutions under Section | ||
62.145; and | ||
(2) the amount of restricted research funds expended | ||
by an eligible institution in a state fiscal year. | ||
(b) As soon as practicable in each even-numbered year, based | ||
on information submitted by the institutions to the coordinating | ||
board as required by the coordinating board, the coordinating board | ||
shall certify to the legislature verified information relating to | ||
the criteria established by Section 62.145 to be used to determine | ||
which institutions are [ |
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money from the fund. | ||
(c) Information submitted to the coordinating board by | ||
institutions for purposes of establishing eligibility under this | ||
subchapter and the coordinating board's certification or | ||
verification of that information under this section [ |
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are subject to a mandatory audit by the state auditor in accordance | ||
with Chapter 321, Government Code. The coordinating board may | ||
request subsequent audits by the state auditor as necessary or | ||
appropriate after an eligible institution begins receiving | ||
distributions under this subchapter. | ||
SECTION 2. Section 62.148, Education Code, is amended to | ||
read as follows: | ||
Sec. 62.148. DISTRIBUTION [ |
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FUNDS TO ELIGIBLE INSTITUTIONS. (a) In each state fiscal year, | ||
the comptroller shall distribute to eligible institutions in | ||
accordance with this section an [ |
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from the fund for that fiscal year. | ||
(b) The total amount appropriated from the fund for any | ||
state fiscal year may not exceed an amount equal to 4.5 percent of | ||
the average net market value of the investment assets of the fund | ||
for the 12 consecutive state fiscal quarters ending with the last | ||
quarter of the preceding state fiscal year, as determined by the | ||
comptroller. | ||
(b-1) For purposes of Subsection (b), for a state fiscal | ||
quarter that includes any period before the fund was established on | ||
January 1, 2010, a reference to the average net market value of the | ||
investment assets of the fund includes the average net market value | ||
of the investment assets of the former higher education fund for the | ||
applicable state fiscal quarter. This subsection expires January | ||
1, 2014. | ||
(c) In each state fiscal year, each eligible institution is | ||
entitled to an equal share of the total amount to be distributed | ||
from the fund in that year. Subject to Subsection (e), the total | ||
amount to be distributed from the fund to those eligible | ||
institutions in that year is a portion of the total amount | ||
appropriated from the fund for that year determined as follows: | ||
(1) one-half of the total amount appropriated if only | ||
one institution has established eligibility; | ||
(2) two-thirds of the total amount appropriated if two | ||
institutions have established eligibility; | ||
(3) three-fourths of the total amount appropriated if | ||
three institutions have established eligibility; | ||
(4) four-fifths of the total amount appropriated if | ||
four institutions have established eligibility; | ||
(5) five-sixths of the total amount appropriated if | ||
five institutions have established eligibility; and | ||
(6) six-sevenths of the total amount appropriated if | ||
six institutions have established eligibility. | ||
(d) The comptroller shall retain within the fund any portion | ||
of an appropriated amount that remains after all distributions are | ||
made for a state fiscal year under this section. The appropriation | ||
of that retained amount lapses at the end of that state fiscal year. | ||
(e) If the number of institutions that are eligible for | ||
distributions in a state fiscal year is more than six, each eligible | ||
institution is entitled to an equal share of the total amount | ||
appropriated from the fund for that fiscal year [ |
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SECTION 3. This Act takes effect immediately if it receives | ||
a vote of two-thirds of all the members elected to each house, as | ||
provided by Section 39, Article III, Texas Constitution. If this | ||
Act does not receive the vote necessary for immediate effect, this | ||
Act takes effect September 1, 2011. |