Section 51.413 - [See Note] Transfers From The Real Estate Special Fund Account To The Available School Fund And The Permanent School Fund(a) The board may, by a resolution adopted at a regular meeting, release from the real estate special fund account funds previously designated under Section 51.401 or managed, used, or encumbered under Section 51.402 or Section 51.4021 to be deposited in the State Treasury to the credit of: (1) the available school fund; or (2) the Texas Permanent School Fund Corporation for investment in the permanent school fund. (b) The board shall adopt rules to establish the procedure that will be used by the board to determine the date a transfer will be made and the amount of the funds that will be transferred to the available school fund or to the Texas Permanent School Fund Corporation for investment in the permanent school fund from the real estate special fund account as provided by Subsection (a). Tex. Nat. Res. Code § 51.413
Amended by Acts 2021, Texas Acts of the 87th Leg. - Regular Session, ch. 875,Sec. 2.09, eff. 12/31/2022 only if the State Board of Education incorporates the Texas Permanent School Fund Corporation under Subchapter B, Chapter 43, Education Code, on or before that date.Amended by Acts 2019, Texas Acts of the 86th Leg.- Regular Session, ch. 524,Sec. 11, eff. 9/1/2019.Amended by Acts 2015, Texas Acts of the 84th Leg. - Regular Session, ch. 735,Sec. 1, eff. 6/17/2015.Added by Acts 2007, 80th Leg., R.S., Ch. 1368, Sec. 8, eff. 6/15/2007.This section is set out more than once due to postponed, multiple, or conflicting amendments.