Texas Education Code - Section 43.001. Composition Of Permanent School Fund And Available School Fund
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§ 43.001. COMPOSITION OF PERMANENT SCHOOL FUND AND
AVAILABLE SCHOOL FUND. (a) Except as provided by Subsection (b),
the permanent school fund, which is a perpetual endowment for the
public schools of this state, consists of:
(1) all land appropriated for the public schools by
the constitution and laws of this state;
(2) all of the unappropriated public domain remaining
in this state, including all land recovered by the state by suit or
otherwise except pine forest land as defined by Section 88.111;
(3) all proceeds from the authorized sale of permanent
school fund land;
(4) all proceeds from the lawful sale of any other
properties belonging to the permanent school fund;
(5) all investments authorized by Section 43.003 of
properties belonging to the permanent school fund; and
(6) all income from the mineral development of
permanent school fund land, including income from mineral
development of riverbeds and other submerged land.
Text of subsec. (b) as amended by Acts 2003, 78th Leg., ch. 201,
§ 36
(b) The available school fund, which shall be apportioned
annually to each county according to its scholastic population,
consists of:
(1) the interest and dividends arising from any
securities or funds belonging to the permanent school fund, as
determined in accordance with the accrual basis of accounting;
(2) all interest derivable from the proceeds of the
sale of land set apart for the permanent school fund;
(3) all money derived from the lease of land belonging
to the permanent school fund;
(4) one-fourth of all revenue derived from all state
occupation taxes, exclusive of delinquencies and cost of
collection;
(5) one-fourth of revenue derived from state gasoline
and special fuels excise taxes as provided by law; and
(6) all other appropriations to the available school
fund made by the legislature for public school purposes.
Text of subsec. (b) as amended by Acts 2003, 78th Leg., ch. 328,
§ 2
(b) The available school fund, which shall be apportioned
annually to each county according to its scholastic population,
consists of:
(1) the distributions to the fund from the permanent
school fund as provided by Section 5(a), Article VII, Texas
Constitution;
(2) one-fourth of all revenue derived from all state
occupation taxes, exclusive of delinquencies and cost of
collection;
(3) one-fourth of revenue derived from state gasoline
and special fuels excise taxes as provided by law; and
(4) all other appropriations to the available school
fund made by the legislature for public school purposes.
(c) The term "scholastic population" in Subsection (b) or
any other law governing the apportionment, distribution, and
transfer of the available school fund means all students of school
age enrolled in average daily attendance the preceding school year
in the public elementary and high school grades of school districts
within or under the jurisdiction of a county of this state.
Added by Acts 1995, 74th Leg., ch. 260, § 1, eff. May 30, 1995.
Amended by Acts 2003, 78th Leg., ch. 201, § 36, eff. June 10,
2003; Acts 2003, 78th Leg., ch. 328, § 2, eff. Jan. 1, 2004.
Section: 42.261 42.301 42.302 42.303 42.304 42.352 42.4101 43.001 43.002 43.003 43.0031 43.0032 43.0033 43.0034 43.004
Last modified: August 10, 2007
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