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(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 State Board of Education 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 State Board of Education for investment in the permanent school fund from the real estate special fund account as provided by Subsection (a).
Cite this article: FindLaw.com - Texas Natural Resources Code - NAT RES § 51.413. Transfers from the Real Estate Special Fund Account to the Available School Fund and the Permanent School Fund - last updated April 14, 2021 | https://codes.findlaw.com/tx/natural-resources-code/nat-res-sect-51-413/
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