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Tax Law Changes for Texas University Fund

This bill amends a date in tax law to align with the Texas Constitution. The goal is to ensure that funds for higher education in Texas can continue to be fully utilized. It does not directly impact citizens' daily finances but supports the financial stability of Texas universities.
Key points
Aligns federal tax law with the Texas Constitution to maximize the benefit from university funds.
Changes a specific date in the Tax Reform Act of 1984, affecting arbitrage rules for educational funds.
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Additional Information
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.
Print number: HR 4610
Sponsor: Rep. Doggett, Lloyd [D-TX-37]
Process start date: 2023-07-13