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TX HB3301
Bill
Status
2/25/2025
Primary Sponsor
Ron Reynolds
Click for details
AI Summary
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Establishes the permanent public school fund as a special fund in the state treasury, separate from general revenue
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Requires the comptroller to deposit $10 million to the fund at the beginning of each state fiscal biennium
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Restricts appropriations to only the interest and earnings from the fund's investments, preserving the principal
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Limits fund earnings to two purposes: reducing school district maintenance and operations property taxes through state compression percentage adjustments, or funding public school prekindergarten programs
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Mandates the comptroller invest fund money in cryptocurrencies, corporate bonds, municipal bonds, and U.S. Treasury bills
Legislative Description
Relating to establishing the permanent public school fund to reduce school district maintenance and operations ad valorem taxes and provide funding for public school prekindergarten programs.
State Finances
Last Action
Referred to Appropriations
3/21/2025