 |
Texas Statutes (Last Updated: January 4, 2014) |
 |
EDUCATION CODE |
|
Title 2. PUBLIC EDUCATION |
|
Subtitle I. SCHOOL FINANCE AND FISCAL MANAGEMENT |
|
Chapter 43. PERMANENT SCHOOL FUND AND AVAILABLE SCHOOL FUND |
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 year the State Board of Education shall set aside an amount equal to 50 percent of the annual distribution for that year 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.
(e) Subsection (d) applies beginning with the state fiscal biennium beginning September 1, 2013. For the state fiscal biennium beginning September 1, 2011, each year the State Board of Education shall set aside an amount equal to 40 percent of the annual distribution for that year 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.
(f) In calculating the amounts to be set aside as provided by Subsection (e) for the state fiscal biennium beginning September 1, 2011, the State Board of Education shall consider only the amounts of the annual distribution of the permanent school fund for that biennium. The board shall not consider amounts distributed for the state fiscal biennium beginning September 1, 2009, regardless of the date on which those amounts were approved for distribution.
(g) Subsections (e) and (f) and this subsection expire September 1, 2013.