(a) The board of regents of The University of Texas System may charge each student enrolled at The University of Texas Rio Grande Valley a sports recreation and wellness facility fee to finance, construct, operate, maintain, or improve sports recreation and wellness programs and facilities at the university. The amount of the fee may not exceed $79 per student for each regular semester and $39.50 per student for each term of the summer session.
(b) A fee charged under this section is in addition to any other fee the board is authorized by law to charge.

(c) The board may not increase the amount of the fee by more than 10 percent in any academic year unless the amount of the increase is approved by:
(1) a majority vote of those students participating in a general student election held at the institution and called for that purpose; and
(2) a majority of the members of the legislative body of the student government of the institution.
(d) The board shall deposit the revenue from the fee to the credit of an account known as The University of Texas Rio Grande Valley sports recreation and wellness facility account. Money in the account shall be used to the extent required in accordance with the terms of the settlement agreement between the board of regents of The University of Texas System and the board of trustees of the Texas Southmost College District, as amended from time to time, terminating the partnership agreement authorized by former Section 78.02.
(e) The board may:
(1) pledge revenue from the fee to pay obligations issued pursuant to the revenue financing system of The University of Texas System; and
(2) use revenue from the fee to pay an obligation issued to finance, construct, operate, maintain, renovate, or improve a wellness, recreational, and fitness complex owned by Texas Southmost College and used by the university under the terms of the settlement agreement between the board of regents of The University of Texas System and the board of trustees of the Texas Southmost College District.
(f) A fee imposed under this section may not be considered in determining the maximum amount of student services fees that may be charged under § 54.503.
(g) The board may permit a person who is not enrolled at The University of Texas Rio Grande Valley to use a university-owned facility financed with revenue from a fee imposed under this section if:
(1) the person’s use of the facility will not materially interfere with student demand or use;
(2) the person is charged a fee that is not less than the student fee and that is not less than the direct and indirect cost to the university of providing for the person’s use; and
(3) the person’s use will not materially increase the potential liability of the university.
(h) The board of trustees of the Texas Southmost College District may pledge revenue from a fee imposed under this section, whether received directly from a student or from The University of Texas Rio Grande Valley, under the terms of the settlement agreement between the board of regents of The University of Texas System and the board of trustees of the Texas Southmost College District, for the payment of obligations issued by Texas Southmost College District to finance the construction, operation, maintenance, renovation, and improvement of a wellness, recreational, and fitness complex owned by Texas Southmost College District and used by the university under the settlement agreement. If the fee imposed under this section is pledged to the payment of obligations issued by Texas Southmost College District, the board of regents of The University of Texas System may not pledge revenue from the fee for the payment of obligations issued for an authorized purpose under the revenue financing system of The University of Texas System.