TITLE: Relating to the uses of the lifetime license endowment account by the Parks and Wildlife Department.

SUMMARY: Relating to the uses of the lifetime license endowment account by the Parks and Wildlife Department.

FULL TEXT:
AN ACT relating to the uses of the lifetime license endowment account by the Parks and Wildlife Department. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: SECTION 1. Section 11.063, Parks and Wildlife Code, is amended to read as follows: Sec. 11.063. USES OF ACCOUNT. To the extent allowed by federal law, money in the lifetime license endowment fund and interest [Interest] earned on the lifetime license endowment account may be used only for the purpose of managing the fish and wildlife resources of this state, as follows [to]:(1) acquiring [acquire] public hunting and fishing areas; [and] (2) developing, managing, and repairing [develop, manage, and repair] public hunting and fishing areas;and (3) making capital expenditures related to fisheries and wildlife resources, including: (A) land acquisition; (B) construction; and (C) the purchase of: (i) transportation items; (ii) equipment; and (iii) information technology resources.SECTION 2. Section 11.064, Parks and Wildlife Code, is amended to read as follows: Sec. 11.064. RESTRICTIONS. (a) No expenditure [expenditures] 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 [except as provided by law].(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). SECTION 3. This Act takes effect September 1, 2017.