Tex. Parks & Wild. Code § 11.064 · Subchapter E. LIFETIME LICENSE ENDOWMENT ACCOUNT
RESTRICTIONS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) No expenditure shall be made from the principal of the lifetime license endowment account if that expenditure would lower the unencumbered balance of the principal of the account below $20 million.
(b) The interest earnings on and principal in the lifetime license endowment account may not be used to pay salaries or employee benefits.
(c) The interest earnings on the lifetime license endowment account may be used for any purpose described by Section 11.063.
(d) The principal in the lifetime license endowment account may be used only for the purpose described by Section 11.063(3).
Notes and commentary — not statutory text
History
Added by Acts 1985, 69th Leg., ch. 267, art. 1, Sec. 21, eff. Sept. 1, 1986. Amended by Acts 1993, 73rd Leg., ch. 679, Sec. 6, eff. Sept. 1, 1993.
Amended by:
Acts 2017, 85th Leg., R.S., Ch. 708 (H.B. 3781), Sec. 2, eff. September 1, 2017.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/PW/htm/PW.11.htm
- Text hash
- sha256 d2ae2df628b01ca0d39406af1cb8a7b777ce4b61404d4813ecac3948fe7f0e32
- 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
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