HB4610: To conform Federal tax law with the Texas Constitution to allow for the continued benefit to the fullest extent possible from the financial leverage of the Permanent University Fund to the State of Texas.
- 1Introduced (current step)
- 2Passed One Chamber
- 3Passed Both Chambers
- 4Became Law
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Bill information
Summary
To conform Federal tax law with the Texas Constitution to allow for the continued benefit to the fullest extent possible from the financial leverage of the Permanent University Fund to the State of Texas.
Plain-language summary
This bill aims to change federal tax law to align with Texas's state constitution regarding the Permanent University Fund. The Permanent University Fund is a state investment fund that generates money for Texas universities. The bill would allow Texas to use this fund more effectively by removing federal tax barriers. The bill has been introduced in Congress and currently sits at the initial stage. It is sponsored by a bipartisan group of Texas representatives.
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HB4610: To conform Federal tax law with the Texas Constitution to allow for the continu…
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Sponsors
Lloyd Doggett
Primary SponsorCo-sponsors (14)
Michael McCaul
Elizabeth Fletcher
Henry Cuellar
John Carter
Monica De La Cruz