Sec. 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.
(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.
(d) Each biennium the State Board of Education shall set aside an amount equal to 50 percent of the distribution for that biennium from the permanent school fund to the available school fund as provided by Section 5(a), Article VII, Texas Constitution, to be placed, subject to the General Appropriations Act, in the state instructional materials fund established under Section 31.021.
Added by Acts 1995, 74th Leg., ch. 260, Sec. 1, eff. May 30, 1995. Amended by Acts 2003, 78th Leg., ch. 201, Sec. 36, eff. June 10, 2003; Acts 2003, 78th Leg., ch. 328, Sec. 2.
Amended by:
Acts 2011, 82nd Leg., 1st C.S., Ch. 6 (S.B. 6), Sec. 65, eff. July 19, 2011.
Acts 2011, 82nd Leg., 1st C.S., Ch. 6 (S.B. 6), Sec. 66, eff. July 19, 2011.
Acts 2015, 84th Leg., R.S., Ch. 731 (H.B. 1474), Sec. 4, eff. September 1, 2015.
Section: 43.001 43.002 43.003 43.0031 43.0032 43.0033 43.0034 43.004 43.005 43.0051 43.006 43.007 43.009 43.010 43.011 NextLast modified: September 28, 2016