Sec. 442.015. TEXAS PRESERVATION TRUST FUND ACCOUNT

(a) Notwithstanding Section 403.095, the Texas preservation trust fund account is a separate account in the general revenue fund. The account consists of transfers made to the account, loan repayments, grants and donations made for the purposes of this program, proceeds of sales, income earned on money in the account, and any other money received under this section. Money in the account may be used only for the purposes of this section and to pay operating expenses of the commission. Money allocated to the commission's historic preservation grant program shall be deposited to the credit of the account. Income earned on money in the account shall be deposited to the credit of the account.

(b) The commission may use money in the Texas preservation trust fund account to provide financial assistance to public or private entities for the acquisition, survey, restoration, or preservation, or for planning and educational activities leading to the preservation, of historic property in the state that is listed in the National Register of Historic Places or designated as a State Archeological Landmark or Recorded Texas Historic Landmark, or that the commission determines is eligible for such listing or designation. The financial assistance may be in the amount and form and according to the terms that the commission by rule determines. The commission shall give priority to property the commission determines to be endangered by demolition, neglect, underuse, looting, vandalism, or other threat to the property. Gifts and grants deposited to the credit of the account specifically for any eligible projects may be used only for the type of projects specified. If such a specification is not made, the gift or grant shall be unencumbered and accrue to the benefit of the Texas preservation trust fund account. If such a specification is made, the entire amount of the gift or grant may be used during any period for the project or type of project specified.

(c) As a condition of providing financial assistance under this section, the commission shall require the creation of a preservation easement in the property, as provided by Chapter 183, Natural Resources Code, in favor of the state, the designation of the property as a State Archeological Landmark, as provided by Chapter 191, Natural Resources Code, or the creation of other appropriate covenants in favor of the state. The commission may take any necessary action to enforce repayment of a loan made under this section.

(d) The commission, after considering the recommendations of the governor, lieutenant governor, and speaker of the house of representatives, shall appoint an advisory board composed of:

(1) one representative of a bank or savings and loan association;

(2) one attorney with a recognized background in historic preservation;

(3) two architects with substantial experience in historic preservation;

(4) two archeologists with substantial experience in Texas archeology;

(5) one real estate professional with experience in historic preservation;

(6) two persons with demonstrated commitment to historic preservation; and

(7) two directors of nonprofit historic preservation organizations.

(e) Members of the advisory board serve two-year terms expiring February 1 of each odd-numbered year. A member of the advisory board is not entitled to compensation for the member's service on the advisory board but is entitled to reimbursement for reasonable expenses incurred in attending advisory board meetings, subject to any limit provided by the General Appropriations Act.

(f) The advisory board shall recommend to the commission rules for administering this section.

(g) The commission may accept grants or other donations of money or other property and services from any source. Money received under this subsection shall be deposited to the credit of the Texas preservation trust fund account.

(h) Repealed by Acts 2011, 82nd Leg., 1st C.S., Ch. 4, Sec. 22.02, eff. November 1, 2011.

(i) Repealed by Acts 2011, 82nd Leg., 1st C.S., Ch. 4, Sec. 22.02, eff. November 1, 2011.

(j) Repealed by Acts 2011, 82nd Leg., 1st C.S., Ch. 4, Sec. 22.02, eff. November 1, 2011.

(k) Repealed by Acts 2011, 82nd Leg., 1st C.S., Ch. 4, Sec. 22.02, eff. November 1, 2011.

(l) Repealed by Acts 2011, 82nd Leg., 1st C.S., Ch. 4, Sec. 22.02, eff. November 1, 2011.

Added by Acts 1989, 71st Leg., ch. 366, Sec. 1, eff. Sept. 1, 1989. Renumbered from Sec. 442.0071 by Acts 1990, 71st Leg., 6th C.S., ch. 12, Sec. 2(6), eff. Sept. 6, 1990. Amended by Acts 1995, 74th Leg., ch. 109, Sec. 11, eff. Aug. 30, 1995; Acts 1999, 76th Leg., ch. 461, Sec. 2, eff. Sept. 1, 1999; Acts 2001, 77th Leg., ch. 377, Sec. 4, eff. Sept. 1, 2001. Amended by: Acts 2007, 80th Leg., R.S., Ch. 1159 , Sec. 9, eff. June 15, 2007. Acts 2011, 82nd Leg., 1st C.S., Ch. 4 , Sec. 22.01, eff. November 1, 2011. Acts 2011, 82nd Leg., 1st C.S., Ch. 4 , Sec. 22.02, eff. November 1, 2011.