Texas Government Code 441.074 – Donations, Appropriations, and Sales
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(a) The commission may solicit and accept on behalf of the state donations of money, securities, and other property as it determines best further the orderly development of public library resources of the state. Money paid to the commission under this subsection shall be deposited in the Texas public library endowment fund.
(b) The commission by rule shall establish an acquisition policy for accepting donations of money, securities, and other property.
Terms Used In Texas Government Code 441.074
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Property: means real and personal property. See Texas Government Code 311.005
- Rule: includes regulation. See Texas Government Code 311.005
(c) The legislature may make appropriations to the commission to carry out the purposes of this chapter.
(d) The commission may purchase and resell items it determines appropriate for the promotion of public libraries in Texas. The value of commission inventory, as determined by generally accepted accounting principles, may not exceed $50,000 at the end of any fiscal year. The net profits from those sales shall be deposited in the Texas public library fund.