April 2018 Committee on School Finance/Permanent School Fund Item 13
Discussion on SB 253 of the 85th Legislative Session
April 12, 2018
COMMITTEE ON SCHOOL FINANCE/PERMANENT SCHOOL FUND: DISCUSSION
STATE BOARD OF EDUCATION: NO ACTION
SUMMARY: This item provides an opportunity for the committee and board to discuss SB 253 of the 85th Legislature, Regular Session, related to restrictions on certain investments of public money.
STATUTORY AUTHORITY: Texas Education Code (TEC), §45.0532.
PREVIOUS BOARD ACTION: None.
BACKGROUND INFORMATION AND SIGNIFICANT ISSUES: Not applicable.
FISCAL IMPACT: The distribution of the Permanent School Fund is projected to be
$2.5 billion during the 2018-2019 biennium.
PROCEDURAL AND REPORTING IMPLICATIONS: Not applicable.
PUBLIC AND STUDENT BENEFIT: The distribution of the Permanent School Fund will flow to the school districts and reduce the tax burden to the public and the state of Texas.
PUBLIC PROCEDURAL AND REPORTING IMPLICATIONS: Not applicable.
PUBLIC COMMENTS: None.
OTHER COMMENTS AND RELATED ISSUES: None.
Staff Member Responsible:
Holland Timmins, Executive Administrator
and Chief Investment Officer of the
Texas Permanent School Fund
April 12, 2018
COMMITTEE ON SCHOOL FINANCE/PERMANENT SCHOOL FUND: DISCUSSION
STATE BOARD OF EDUCATION: NO ACTION
SUMMARY: This item provides an opportunity for the committee and board to discuss SB 253 of the 85th Legislature, Regular Session, related to restrictions on certain investments of public money.
STATUTORY AUTHORITY: Texas Education Code (TEC), §45.0532.
PREVIOUS BOARD ACTION: None.
BACKGROUND INFORMATION AND SIGNIFICANT ISSUES: Not applicable.
FISCAL IMPACT: The distribution of the Permanent School Fund is projected to be
$2.5 billion during the 2018-2019 biennium.
PROCEDURAL AND REPORTING IMPLICATIONS: Not applicable.
PUBLIC AND STUDENT BENEFIT: The distribution of the Permanent School Fund will flow to the school districts and reduce the tax burden to the public and the state of Texas.
PUBLIC PROCEDURAL AND REPORTING IMPLICATIONS: Not applicable.
PUBLIC COMMENTS: None.
OTHER COMMENTS AND RELATED ISSUES: None.
Staff Member Responsible:
Holland Timmins, Executive Administrator
and Chief Investment Officer of the
Texas Permanent School Fund