State of Texas – Fiscal Management

Manual of Accounts

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Fund 0346 – Permanent Higher Education Fund
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Repealed

This fund is inactive. Please see the notes section for further information regarding the inactive status. Recently inactivated funds may remain active in USAS for a period of time to complete outstanding transactions or for other accounting purposes.

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Purpose


Classification  
Depository Interest
Disposition of Balance
Appropriation Technique

Administering Agencies



Financial Activity


To view this fund's current revenue and expenditure activity by agency or comptroller object code, visit the following links:


Notes


Created September 1, 1995 under TEX. CONST. art. VII sec. 17(i) and TEX. EDUC. CODE ANN. sec. 62.062. Texas Constitution to allow the legislature to dedicate a portion of state revenues to the fund until the income and interest total $2 billion. At that time, income earned on the corpus of the fund will be used to replace the GR appropriations to the Higher Education  Assistance Fund.  At the beginning of the fiscal year after the fund reaches $2 billion, and each year thereafter, 10 percent of the interest, dividends and other income accruing from investments during the previous fiscal year is deposited to the fund. Repealed by H.B. 51, 81st Leg., R.S. and voter approval in 2009. Amounts transferred to the Available National Research University Fund (0214).


USAS Values


USAS Title PERMANENT HIGHER EDUCATION FUND
Consolidated Fund
State Fund Group 05 - CONSTITUTIONAL NONEXPENDABLE FUNDS
USAS Status I


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