June 2023 Committee on School Finance/Permanent School Fund Item 2

Review the Process to Consider Board Member Nominees for a School Land Board Position

June 23, 2023

COMMITTEE ON SCHOOL FINANCE/PERMANENT SCHOOL FUND: ACTION
STATE BOARD OF EDUCATION: CONSENT

SUMMARY: This item provides an opportunity for the committee and board to review the process to consider nominees for a School Land Board position.

STATUTORY AUTHORITY: Texas Constitution, Article VII, §2 and §5;and Natural Resources Code (NRC), §32.012; and Texas Government Code (TGC), §825.003.

The Texas Constitution, Article VII, §2 and §5 establish the permanent school fund, the assets that comprise the permanent school fund, the bond guarantee program, the available school fund, and authorize the State Board of Education (SBOE) to manage the permanent school fund.

NRC §32.012 provides that two of the citizens appointed to the School Land Board by the governor must be selected from the lists of nominees submitted by the SBOE.

TGC §825.003 requires the governor to appoint two members to the Teacher Retirement System Board of Trustees from the lists of nominees submitted by the SBOE.

The full text of statutory citations can be found in the statutory authority section of this agenda.

Staff Member Responsible: 
Mark Shewmaker, Managing Director of Special Projects, Portfolio Manager, Texas Permanent School Fund Corporation