Texas Administrative Code › Title 13 - CULTURAL RESOURCES › Part 2 - TEXAS HISTORICAL COMMISSION › Chapter 17 - STATE ARCHITECTURAL PROGRAMS › Section 17.1 - Texas Preservation Trust Fund

Current through Reg. 49, No. 28; July 12, 2024
(a)
				Definition. The Texas preservation trust fund (hereinafter referred to as trust
				fund or fund) is a fund in the state treasury, created by enactment of Senate
				Bill 294 by the 71st Texas Legislature (1989), which amended the Texas
				Government Code, Chapter 442, by adding §442.015. The trust fund shall
				consist of transfers made to the fund, including state and federal legislative
				appropriations, grants, donations, proceeds of sales, loan repayments, interest
				income earned by the fund, and any other monies received. Funds may be received
				from federal, state, or local government sources, organizations, charitable
				trusts and foundations, private individuals, business or corporate entities,
				estates, or any other source.
(b)
				Purpose. The purpose of the Texas preservation trust fund is to serve as a
				source of funding for the Texas Historical Commission (Commission) to provide
				financial assistance to qualified applicants for the acquisition, survey,
				restoration, preservation, or for planning and educational activities leading
				to the preservation, of historic properties and associated collections in the
				State of Texas.
(c) Types of
				assistance. Commission shall provide financial assistance in the form of grants
				or loans. Grant recipients shall be required to follow the terms and conditions
				of the Preservation Trust Fund Grants and other terms and conditions imposed by
				Commission at the time of the grant award. Loans shall have a term not to
				exceed five years at an interest rate at the prime interest rate at the time
				the loan is made.
(d) Allowable use
				of trust fund monies. In all cases when no specification is made, or the
				specified amount is less than $5,000 the proceeds and/or interest on such gifts
				or monies shall be unencumbered and shall accrue to the benefit of the entire
				fund. Money deposited to the fund for specific projects shall only be used for
				the projects specified provided that the specific project has received approval
				of the Commission, there is or will be a dedicated account within the Trust
				Fund for that project, and all other requirements herein are met. Money
				deposited to specified projects in amounts of $5,000 or greater shall retain
				all proceeds or interest earned for that specified project unless the donor
				stipulates that all proceeds or interest earned shall be unencumbered and
				accrue to the benefit of the entire fund.
(e) Organization. The Texas preservation
				trust fund shall be administered by the Commission through its Executive
				Committee. The trust fund advisory board, and commission staff shall provide
				support and input as needed.
(f)
				All actions of the Executive Committee are subject to ratification by the full
				Texas Historical Commission with the exception of emergency grants. Duties of
				the Executive Committee are:
(1) to approve
				all policies and guidelines for the administration of the fund or any of its
				associated boards and committees;
(2) to approve the acceptance of grants or
				other donations of money, property, and/or services from any source. Money
				received shall be deposited to the credit of the Texas preservation trust
				fund;
(3) to provide final approval
				of all trust fund allocations based on advisory board and commission staff
				recommendations.