Bill 118 hr 4610 aims to align Federal tax law with the Texas Constitution in order to ensure that the State of Texas can fully benefit from the financial leverage provided by the Permanent University Fund. The Permanent University Fund is a valuable resource that supports higher education in Texas by providing funding for universities and colleges.
By conforming Federal tax law with the Texas Constitution, this bill seeks to maximize the benefits that the State of Texas can receive from the Permanent University Fund. This will help to ensure that Texas universities and colleges have the necessary resources to provide high-quality education to students and contribute to the state's economic growth.
Overall, Bill 118 hr 4610 is designed to support higher education in Texas and ensure that the state can continue to leverage the Permanent University Fund to its fullest extent. By aligning Federal tax law with the Texas Constitution, this bill will help to strengthen the state's education system and support its long-term success.