Issue Date: 2017-09-01
Revised Date: 2019-06-12

Legal Cites

Origin:

S.B. 1, 82nd Leg., 1st C.S.

Purpose

A fund in the state treasury outside the general revenue fund. The fund includes amounts remitted by charter school districts that have bonds guaranteed by the Permanent School Fund (0044). The amount remitted is 20% of the savings the charter school district achieves through a lower interest rate due to the bond guarantee by the Permanent School Fund.

Amounts in the fund are to be used in case of charter district default. Fund may be managed in the same manner as the Permanent School Fund.

Receives transfer from Charter School Liquidation Fund 0326 when Fund 0326 balance exceeds $2 million.

Classification Group 01: General State Operating and Disbursing Funds [?]
Depository Interest Retained in fund.
Disposition of Balance Accumulative
Appropriation Technique Transferred to district's paying agent in case of default.

Administering Agencies

Note

Remitted percentage increased from 10% and fund management amended by S.B. 1480, 85th Leg., R.S.

Transfer from Fund 0326 added by S.B. 1454, 86th Leg., R.S.

USAS Values

USAS Title CHARTER DISTRICT BOND GUARANTEE RESERVE
Consolidated Fund
State Fund Group 01 - GENERAL STATE OPERATING & DISBURSING FDS
USAS Status A
Used to make general expenditures for the daily operations of state government.