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Texas Education Code - Chapter 62 Division Of Constitutionally Appropriated Funds Among Certain Institutions Of Higher Education; Research Development Fund

Legal Research Home > Texas Lawyer > Education Code > Texas Education Code - Chapter 62 Division Of Constitutionally Appropriated Funds Among Certain Institutions Of Higher Education; Research Development Fund

  • Texas Education Code Section 62.001 - Short Title
    This chapter may be cited as "The Excellence in Higher Education Act" of 1985. Added by Acts 1985, 69th Leg., ch. 225, § 1, eff. ...
  • Texas Education Code Section 62.002 - Purpose
    Through equitable allocation of the annual appropriation mandated by Article VII, Section 17(a), of the Constitution of Texas, the purpose of this chapter is to ...
  • Texas Education Code Section 62.003 - Definitions
    In this chapter: (1) "Eligible institution" means the eligible agencies and institutions of higher education listed in Article VII, Section 17(b), of the Constitution of ...
  • Texas Education Code Section 62.021 - Allocations
    (a) In each state fiscal year beginning with the state fiscal year ending August 31, 2008, an eligible institution is entitled to receive an amount ...
  • Texas Education Code Section 62.022 - Allocation Formula
    (a) Prior to the convening of the regular session of the Texas Legislature immediately preceding each 10-year period for which Section 17(d), Article VII, Texas ...
  • Texas Education Code Section 62.023 - Severability
    If any provision of this chapter or the application thereof under any circumstance is held invalid, such invalidity shall not affect other provisions or applications ...
  • Texas Education Code Section 62.024 - Amount Of Allocation Increased
    In accordance with Section 17(a), Article VII, Texas Constitution, for each state fiscal year beginning with the state fiscal year ending August 31, 2008, the ...
  • Texas Education Code Section 62.025. DEPOSIT OF $50 MILLION. (a) Not later than November 1 of each state fiscal year, the comptroller shall deposit the first $50 million that comes to the state at the beginning of each state fiscal year and that is not dedicated by other law as follows: (1) except as provided by Subsection (e), an amount equal to the portion of the total return on all investment assets of the higher education fund in the preceding state fiscal year computed by multiplying that total return by the percentage of the total return on all investment assets of the permanent fund for tobacco education and enforcement that constitutes available earnings as determined by the comptroller under Section 403.1068, Government Code, in that year must be deposited to the credit of the research development fund established under Subchapter E; and (2) the remaining amount must be deposited to the credit of the higher education fund. (b) The comptroller may adopt rules to administer this section. (c) The deposit required by this section to the higher education fund expires on September 1 after the date the comptroller certifies that the value of the higher education fund is $2 billion. In each state fiscal year that begins on or after that date, the comptroller shall deposit to the credit of the research development fund established under Subchapter E from the first money that comes to the state at the beginning of that fiscal year an amount, not to exceed $50 million, equal to the portion of the total return on all investment assets of the higher education fund in the preceding state fiscal year computed by multiplying that total return by the percentage of the total return on all investment assets of the permanent fund for tobacco education and enforcement that constitutes available earnings as determined by the comptroller under Section 403.1068, Government Code. (d) Repealed by Acts 2003, 78th Leg., ch. 322, § 4(1). (e) An amount may not be deposited to the research development fund under this section if Subchapter E expires or is repealed or if the research development fund is abolished. (f) Expired. Added by Acts 1993, 73rd Leg., ch. 537, § 1, eff. Sept - 1, 1995
    Amended by Acts 2001, 77th Leg., ch. 1052, § 2, eff. Sept. 1, 2001; Acts 2003, 78th Leg., ch. 322, § 3, 4(1), eff. Sept. ...
  • Texas Education Code Section 62.026 - Higher Education Fund
    (a) The higher education fund is a fund outside the state treasury in the custody of the comptroller. (b) The fund consists of the amount ...
  • Texas Education Code Section 62.027 - Effect Of Legislation
    (a) The constitutional amendment proposed by S.J.R. No. 13, 73rd Legislature, Regular Session, 1993, and approved by the voters at an election held on November ...
  • Texas Education Code Section 62.091 - Purpose
    The research development fund is established to provide funding to promote increased research capacity at eligible general academic teaching institutions. Added by Acts 2003, 78th ...
  • Texas Education Code Section 62.092 - Definitions
    In this subchapter: (1) "Coordinating board" means the Texas Higher Education Coordinating Board. (2) "Eligible institution" means a general academic teaching institution, as defined by ...
  • Texas Education Code Section 62.093 - Administration
    (a) The research development fund is a fund outside the state treasury in the custody of the comptroller. (b) The comptroller shall administer and invest ...
  • Texas Education Code Section 62.094 - Funding
    (a) The research development fund consists of the amount deposited to the credit of the fund under Section 62.025 in each state fiscal year, the ...
  • Texas Education Code Section 62.095 - Apportionment Of Fund To Eligible Institutions
    (a) In each state fiscal year, the comptroller shall distribute the total amount of all assets in the research development fund to eligible institutions. The ...
  • Texas Education Code Section 62.0951 - Apportionment Of Fund In 2006-2007 Fiscal Biennium
    Text of section effective until January 1, 2008 (a) This section applies to the apportionment of the research development fund in each state fiscal ...
  • Texas Education Code Section 62.096 - Verification Of Allocation Factors
    (a) For purposes of this subchapter, the coordinating board shall prescribe standards and accounting methods for determining the amount of restricted research funds expended by ...
  • Texas Education Code Section 62.097 - Use Of Allocated Amounts
    (a) An eligible institution may use money received from the research development fund only for the support and maintenance of educational and general activities, including ...
  • Texas Education Code Section 62.098 - Annual Report
    (a) Each eligible institution that receives money under this subchapter in a state fiscal year shall prepare a report at the end of that fiscal ...
  • Last modified: August 10, 2007