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  89R10923 KJE-D     By: Reynolds H.B. No. 3301       A BILL TO BE ENTITLED   AN ACT   relating to establishing the permanent public school fund to reduce   school district maintenance and operations ad valorem taxes and   provide funding for public school prekindergarten programs.          BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:          SECTION 1.  Subtitle I, Title 2, Education Code, is amended   by adding Chapter 47A to read as follows:   CHAPTER 47A.   PERMANENT PUBLIC SCHOOL FUND           Sec.   47A.001.     DEFINITION. In this chapter, "fund" means   the permanent public school fund.           Sec.   47A.002.     FUND ESTABLISHED. (a)   The permanent public   school fund is a special fund in the state treasury outside the   general revenue fund.           (b)  The fund consists of:                 (1)     money appropriated by the legislature for deposit   to the credit of the fund; and                 (2)     interest or other earnings attributable to the   investment of money in the fund.           Sec.   47A.003.     USES OF FUND. (a)   The legislature may not   appropriate money from the fund other than the interest or other   earnings attributable to the investment of money in the fund.           (b)     The interest or other earnings attributable to the   investment of money in the fund may be appropriated only to:                 (1)     reduce school district maintenance and operations   ad valorem taxes by reducing the state compression percentage under   Section 48.255; or                 (2)     provide funding for prekindergarten programs   under Subchapter E, Chapter 29.           Sec.   47A.004.     DEPOSIT OF MONEY. Not later than the first   day of each state fiscal biennium, the comptroller shall deposit   $10 million to the credit of the fund.           Sec.   47A.005.     INVESTMENT OF FUND. Notwithstanding Section   404.024(b), Government Code, the comptroller shall invest money in   the fund in:                 (1)  cryptocurrencies;                 (2)  corporate bonds;                 (3)  municipal bonds; and                 (4)     treasury bills issued by the United States   government.          SECTION 2.  This Act takes effect September 1, 2025.