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SB 883, 66th Regular Session
To change the duties and powers of the State Board of Education with regard to the permanent and available school fund to conform to sound, current investment practices; removing the requirement that bonds of school districts of the state be first offered for purchase to the State Board of Education; authorizing the use of a bank "lock-box" system to speed collection of income to the Available School Fund; authorizing participation in a fully secured stock and bond loan program to increase the earnings of the Available School Fund.

Last action: Effective immediately

Author: W.E. "Pete" Snelson
Sponsor: Hamp Atkinson

Session Law Chapter:
Acts 1979, 66th R.S.,ch. 661, General and Special Laws of Texas

Companion:

HB 1596 (Identical)

Subjects:
Education--Primary & Secondary--Finance
Financial--General
PERMANENT SCHOOL FUND

House Committee: Ways & Means ()
Minutes: May 16 1979
Senate Committee: Education ()

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