Texas Natural Resources Code 51.412 – Report On Use of Certain Money
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(a) Not later than September 1 of each even-numbered year, the board shall submit to the legislature, the Texas Permanent School Fund Corporation, and the Legislative Budget Board a report that, specifically and in detail, assesses the direct and indirect economic impact, as anticipated by the board, of the use of funds:
(1) retained by the board as provided by § 51.011(a-3); or
(2) designated under § 51.401 for deposit in the real estate special fund account of the permanent school fund.
(b) The board may not disclose information under this section that is confidential under applicable state or federal law.
Terms Used In Texas Natural Resources Code 51.412
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Year: means 12 consecutive months. See Texas Government Code 311.005
(c) The report must include the following information:
(1) the total amount of the funds designated by § 51.401 for deposit in the real estate special fund account of the permanent school fund that the board intends to use in a manner authorized under § 51.402;
(2) the amount of funds retained by the board as provided by § 51.011(a-3) and the purposes for which the board intends to use those funds;
(3) the amount of the funds the board expects to distribute to the available school fund or the Texas Permanent School Fund Corporation for investment in the permanent school fund under § 51.413;
(4) the amounts of all fees or other compensation paid by the board to investment consultants and advisors appointed or organizations contracted with under § 51.4021; and
(5) any other information the board considers necessary to include in the report.