Tex. Education Code § 56.039
This is the official text of Tex. Education Code § 56.039, part of Texas’s Education Code — governs public schools and universities in Texas.
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§ 56.039. FULL USE OF FUNDS.
Official statutory text
At the end of a fiscal year, if the total amount of unencumbered funds that have been set aside under this subchapter by an institution of higher education, together with the total amount of unencumbered funds transferred by that institution to the Coordinating Board, Texas College and University System, exceeds 150 percent of the amount of funds set aside by that institution in that fiscal year, the institution shall transfer the excess amount to the coordinating board. The coordinating board shall use funds transferred under this section to award grants under Subchapter M.
Status: in_force · Read it on the official government site
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