Prop 5 Would Create Endowment Fund For Emerging Research Universities

A constitutional amendment on next month's ballot would create a nearly $4 billion endowment to support emerging research universities in Texas. Proposition 5 would authorize the state to create the Texas University Fund to enhance research capabilities at universities statewide. The endowment would be funded mostly from the state's budget surplus and wouldn't require any new taxes. So far, the University of Houston, the University of North Texas, Texas Tech, and Texas State University are qualified to receive money from the fund.