Tex. Gov't Code § 487.559 · Subchapter M. RURAL COMMUNITIES HEALTH CARE INVESTMENT PROGRAM
ADMINISTRATION AND USE OF FUND.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The department may administer the permanent endowment fund for the rural communities health care investment program. If the department elects not to administer the fund, the comptroller shall administer the fund.
(b) The administrator of the fund shall invest the fund in a manner intended to preserve the purchasing power of the fund's assets and the fund's annual distributions. The administrator may acquire, exchange, sell, supervise, manage, or retain, through procedures and subject to restrictions the administrator considers appropriate, any kind of investment of the fund's assets that prudent investors, exercising reasonable care, skill, and caution, would acquire or retain in light of the purposes, terms, distribution requirements, and other circumstances of the fund then prevailing, taking into consideration the investment of all the assets of the fund rather than a single investment.
(c) The comptroller or the department may solicit and accept gifts and grants to the fund.
(d) Annual distributions for the fund shall be determined by the investment and distribution policy adopted by the administrator of the fund for the fund's assets.
(e) Except as provided by Subsection (f), money in the fund may not be used for any purpose.
(f) The amount available for distribution from the fund, including any gift or grant, may be appropriated only for providing stipends and loan reimbursement under the programs authorized by this subchapter and to pay the expenses of managing the fund. The expenditure of a gift or grant is subject to any limitation or requirement placed on the gift or grant by the donor or granting entity.
(g) Sections 403.095 and 404.071, Government Code, do not apply to the fund. Section 404.094(d), Government Code, applies to the fund.
Notes and commentary — not statutory text
History
Added by Acts 2001, 77th Leg., ch. 435, Sec. 2, eff. May 28, 2001. Redesignated from Health and Safety Code Sec. 106.309 and amended by Acts 2003, 78th Leg., ch. 609, Sec. 6, eff. Sept. 1, 2003; Acts 2003, 78th Leg., ch. 1276, Sec. 9.006(e), eff. Sept. 1, 2003.
Amended by:
Acts 2009, 81st Leg., R.S., Ch. 112 (H.B. 1918), Sec. 73, eff. September 1, 2009.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/GV/htm/GV.487.htm
- Text hash
- sha256 66eb55b6eaaa098cbaabb90316ceea6580ad2db547da5ab99bef13a5fa5daf7d
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
This section cites
Provisions in this library that the text above cites, as it prints each citation. A range cited as “ss. 61.13-61.16” links its first and last provisions.
Government Code
- Tex. Gov't Code § 403.095USE OF DEDICATED REVENUE.Printed as Sections 403.095 and 404.071, Government Code
- Tex. Gov't Code § 404.071DISPOSITION OF INTEREST ON INVESTMENTS.Printed as Sections 403.095 and 404.071, Government Code
- Tex. Gov't Code § 404.094FUNDS TO BE DEPOSITED IN TREASURY.Printed as Section 404.094(d), Government Code
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.