Texas Education Code
§ 63.002 — ADMINISTRATION AND USE OF FUND
ED § 63.002Title 3. HIGHER EDUCATION · Part B. STATE COORDINATION OF HIGHER EDUCATION · Ch. 63. PERMANENT FUNDS FOR HEALTH-RELATED INSTITUTIONS OF HIGHER EDUCATION · Art. A. PERMANENT HEALTH FUND FOR HIGHER EDUCATION
Statute text
View on source(a)The board of regents of The University of Texas System shall administer the fund. The board may manage and invest the fund in the same manner as the board manages and invests other permanent endowments. In administering the fund, the board shall invest any funds in a manner that preserves the purchasing power of the fund's assets and the fund's annual distributions. The board shall determine the amount available for distribution from the fund in a manner consistent with the board's procedures for making distributions to other endowment beneficiaries. The amount available for distribution shall be determined by the investment and distribution policy for the fund's assets adopted by the board. Expenses of managing the fund's assets shall be paid from the fund.
(b)Except as provided by Subsections (c), (d), and (f), money in the fund may not be used for any purpose.
(c)The amount available for distribution from the fund may be appropriated only for programs that benefit medical research, health education, or treatment programs at the following health-related institutions of higher education:
(1)The University of Texas Health Science Center at San Antonio;
(2)The University of Texas M. D. Anderson Cancer Center;
(3)The University of Texas Southwestern Medical Center;
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Legislative history
Acts 2009, 81st Leg., R.S., Ch. 1341 (S.B. 98), Sec. 4, eff. June 19, 2009. Acts 2013, 83rd Leg., R.S., Ch. 65 (S.B. 120), Sec. 14, eff. May 18, 2013. Acts 2013, 83rd Leg., R.S., Ch. 179 (H.B. 1844), Sec. 7, eff. September 1, 2013. Acts 2019, 86th Leg., R.S., Ch. 8 (H.B. 826), Sec. 7, eff. May 1, 2019. Acts 2019, 86th Leg., R.S., Ch. 294 (H.B. 2867), Sec. 7, eff. May 29, 2019. Acts 2019, 86th Leg., R.S., Ch. 517 (S.B. 479), Sec. 3, eff. June 7, 2019. Acts 2021, 87th Leg., R.S., Ch. 915 (H.B. 3607), Sec. 5.025, eff. September 1, 2021.