Allowed Institutions
The following are all available beneficiaries, as of 7 February 2009, of the Available University Fund, which distributes the annual dividends and returns of the Permanent University Fund. The Texas Constitution (Article 7, Section 18) stipulates that most current institutions under the University of Texas System and Texas A&M System are eligible to receive PUF profits through the AUF, and that a two-third vote of each house in the State Legislature is necessary to create a new institution as part of either system, which would then be automatically eligible for funds.
Other Texas public universities—notably all institutions in the University of Houston System, the University of North Texas System, the Texas State System, the Texas Tech System, and some UT System and Texas A&M System institutions—are prohibited by law from sharing the income from this endowment, but since 1984 have been served by the Higher Education Assistance Fund, a much smaller fund. Addition of the other university systems or individual institutions to the Permanent University Fund would require an amendment to the Texas Constitution.
| University of Texas System | Texas A&M University System | ||
|---|---|---|---|
| University of Texas at Arlington | University of Texas Health Science Center at Houston | Texas A&M University | Texas AgriLife Extension Service |
| University of Texas at Austin | University of Texas Health Science Center at San Antonio | Prairie View A&M University | Texas AgriLife Research |
| University of Texas at Dallas | University of Texas Health Science Center at Tyler | Tarleton State University | Texas Engineering Extension Service |
| University of Texas at El Paso | University of Texas Institute of Texan Cultures at San Antonio | Texas A&M University at Galveston | Texas Forest Service |
| University of Texas of the Permian Basin | University of Texas M. D. Anderson Cancer Center | Texas A&M Health Science Center | Texas Transportation Institute |
| University of Texas at San Antonio | University of Texas Medical Branch | Texas A&M University System Administration | |
| University of Texas at Tyler | University of Texas Southwestern Medical Center | ||
| University of Texas System Administration | |||
| source: Texas Constitution, Article 7, Section 7.18(a) and Section 7.18(b) | |||
Read more about this topic: Permanent University Fund
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