(a) An eligible institution may use money received under this subchapter only for the support and maintenance of educational and general activities that promote increased research capacity at the institution.
(b) For purposes of Subsection (a), the use of money shall be limited to the following permitted activities:
(1) providing faculty support and paying faculty salaries;
(2) purchasing equipment or library materials;
(3) paying graduate stipends; and
(4) supporting research performed at the institution, including undergraduate research.

Terms Used In Texas Education Code 62.149

  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Year: means 12 consecutive months. See Texas Government Code 311.005

(c) Money received in a fiscal year by an institution under this subchapter that is not used in that fiscal year by the institution may be held and used by the institution in subsequent fiscal years for the purposes prescribed by this section.