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.
Issue Date: |
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Revised Date: |
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Legal Cites
Origin:
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Depository Interest |
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Disposition of Balance |
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Administering Agencies
Note
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 Repealed by H.B. 51, 81st Leg., R.S. and voter approval in 2009.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 |
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State Fund Group |
05 - CONSTITUTIONAL NONEXPENDABLE FUNDS
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USAS Status |
I |