163.005[2/2] – APPROPRIATION FOR EXPENDITURE OR ACCUMULATION OF
Texas Property Code § 163.005[2/2]
Summary
This law regulates how university systems in Texas can appropriate funds from large endowment funds. It specifically limits the amount that can be spent annually to no more than nine percent of the fair market value of the endowment, ensuring responsible financial management.
Applies only to Texas university systems with large endowments.
Limits annual appropriations to nine percent of fair market value.
Fair market value must be averaged over three years.
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In simple terms: Learn about Texas's APPROPRIATION FOR EXPENDITURE OR ACCUMULATION OF law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
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