Texas Education Code
§ 43.015 — DUTIES OF COMPTROLLER
ED § 43.015Title 2. PUBLIC EDUCATION · Part I. SCHOOL FINANCE AND FISCAL MANAGEMENT · Ch. 43. PERMANENT SCHOOL FUND AND AVAILABLE SCHOOL FUND · Art. A. GENERAL PROVISIONS
Statute text
View on source(a)Not later than the 30th day before the first day of each regular session of the legislature and not later than the 10th day before the first day of any special session at which there can be legislation respecting the public schools, the comptroller shall report to the governor the condition of the permanent school fund and the available school fund, the amount of each fund, and the manner of its disbursement.
(b)The comptroller shall provide the State Board of Education with the reports specified by Subsection (a) and with additional reports concerning those funds requested by the State Board of Education.
(c)The comptroller shall ensure that no portion of either the permanent school fund or the available school fund is used to pay any warrant drawn against any other fund.
(d)The comptroller shall receive and hold in a special deposit and account for all properties belonging to the available school fund. All warrants drawn on that fund by the comptroller pursuant to a certificate of the commissioner must be registered by the comptroller and then transmitted to the commissioner, and when properly endorsed shall be paid by the comptroller in the order of their presentation.
(e)On order of the State Board of Education, the comptroller shall exchange or accept refunding bonds in lieu of:
(1)either matured or unmatured bonds held for the benefit of the permanent school fund, which are being refunded under this chapter;
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Legislative history
Added by Acts 1995, 74th Leg., ch. 260, Sec. 1, eff. May 30, 1995. Amended by Acts 1997, 75th Leg., ch. 1423, Sec. 5.04, eff. Sept. 1, 1997.