Texas Education Code

§ 62.150 — INSTITUTIONAL ENDOWMENT REPORTING

ED § 62.150Title 3. HIGHER EDUCATION · Part B. STATE COORDINATION OF HIGHER EDUCATION · Ch. 62. CONSTITUTIONAL AND STATUTORY FUNDS TO SUPPORT INSTITUTIONS OF HIGHER EDUCATION · Art. G. TEXAS UNIVERSITY FUND

Statute text

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(a)In this section, "institutional endowment fund" means a fund established to support a general academic teaching institution's mission in perpetuity.

(b)For purposes of reporting the amount of an institution's institutional endowment funds, each eligible institution may include as a true endowment, in accordance with coordinating board rule, the institution's share of the market value of the fund corresponding to the share of the permanent endowment for education and research base funding to which the institution is entitled for a state fiscal year as provided by Section 62.1481.

Legislative history

Added by Acts 2023, 88th Leg., R.S., Ch. 1004 (H.B. 1595), Sec. 19, eff. January 1, 2024.