This section creates an inaugural endowment fund, requires certain excess inaugural-fund money to be transferred into it when the inaugural committee is dissolved, and limits how the committee may spend and operate.
Sec. 401.011. INAUGURAL ENDOWMENT FUND. (a) To the extent that the balance of the inaugural fund exceeds $100,000 plus the amount necessary to cover fund obligations, on the date the inaugural committee appointed for an inauguration is dissolved that balance shall be transferred to an account in the general revenue fund to be known as the inaugural endowment fund. The fund shall be administered and expended in accordance with this section. (b) The fund may be expended for decorating, furnishing, preserving, or improving the Capitol, the Governor's Mansion, or other state property of historical significance or for grants in support of public schools, public libraries, or other charitable causes at the discretion of the inaugural endowment fund committee. (c) The inaugural endowment fund committee is composed of the chair of the Texas Historical Commission, a person appointed by the governor, a person appointed by the lieutenant governor, and a person appointed by the speaker of the house of representatives. Notwithstanding other law, the spouse of the governor, of a member of the legislature, or of another state officer may be appointed to the committee. The governor shall designate the chair of the committee from among the members. (d) Appointed members of the committee serve for terms of two years, expiring on the third Tuesday in January in odd-numbered years. Committee members serve without compensation or reimbursement for travel or personal expenses incurred in carrying out committee duties, except that the service of the chair of the Texas Historical Commission is considered an additional duty of that office and expenses for that person shall be reimbursed by the commission to the same extent as for performance of other commission duties. (e) Operations of the committee may not be conducted at state expense, and committee functions may not be carried out through the use of state personnel or equipment. (f) Not later than October 1 of each year, the committee shall file a report with the secretary of state detailing expenditures made during the 12 months ending on the August 31 preceding the report. The secretary of state shall publish the report in the Texas Register. (g) The committee is a governmental body for purposes of Chapters 551 and 552 but is not subject to Chapter 2001. (h) Section 403.095 does not apply to the inaugural endowment fund. Added by Acts 2001, 77th Leg., ch. 1454, Sec. 1, eff. Feb. 1, 2003. SUBCHAPTER B. EMERGENCY INTERIM SUCCESSION