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Texas Statutes (Last Updated: January 4, 2014) |
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NATURAL RESOURCES CODE |
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Title 2. PUBLIC DOMAIN |
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Subtitle D. DISPOSITION OF THE PUBLIC DOMAIN |
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Chapter 51. LAND, TIMBER, AND SURFACE RESOURCES |
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Subchapter I. ACQUISITION OF PUBLIC SCHOOL LAND |
Sec. 51.412. REPORTS TO LEGISLATURE
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(a) Not later than September 1 of each even-numbered year, the board shall submit to the legislature a report that, specifically and in detail, assesses the direct and indirect economic impact, as anticipated by the board, of the investment of funds designated under Section 51.401 for deposit in the real estate special fund account of the permanent school fund. The board may not disclose information under this section that is confidential under applicable state or federal law. The report must include the following information:
(1) the total amount of money designated by Section 51.401 for deposit in the real estate special fund account of the permanent school fund that the board intends to invest;
(2) the rate of return the board expects to attain on the investment;
(3) the amount of money the board expects to distribute to the available school fund or the State Board of Education for investment in the permanent school fund after making the investments;
(4) the distribution of the board's investments by county;
(5) the effect of the board's investments on the level of employment, personal income, and capital investment in the state; and
(6) any other information the board considers necessary to include in the report.
(b) Not later than January 1 of each odd-numbered year, the board shall submit to the legislature a report that assesses the return and economic impact of the investments reported to the legislature before the preceding regular legislative session.