Texas Education Code 62.121 – Definitions
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Terms Used In Texas Education Code 62.121
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Personal property: All property that is not real property.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
In this subchapter:
(1) “Eligible institution” means an institution of higher education designated as an emerging research university under the coordinating board’s accountability system.
(2) “Gift” includes cash, cash equivalents, marketable securities, closely held securities, money market holdings, partnership interests, personal property, real property, minerals, and life insurance proceeds.
(3) “Institution of higher education” has the meaning assigned by § 61.003.
(4) “Program” means the Texas Research Incentive Program (TRIP) established under this subchapter.