HB 3301

Reynolds’s $10M School Fund Has To Invest In Cryptocurrencies

Died in committee

Verdict: Smells

SmellsInitial review

Rep. Ron ReynoldsDHouse 27

Both charges, and why

New fee, fund, board or appointees

THE TEXT

…“school fund is a special fund in the state treasury outside the”…

Bill text, introduced version (I)

The bill creates a new dedicated fund in the state treasury. The caption says so openly, so this is an honest fund bill, not a hidden one.

New fee, fund, board or appointees

Caption mismatch

THE TEXT

“(1) cryptocurrencies;”

Bill text, introduced version (I)

The caption covers only a school fund for tax relief and pre-K. It never mentions that the body orders the comptroller to invest state money in cryptocurrencies, overriding the normal investment rules.

Caption mismatch

Initial review · graded Oct 20, 2026 · Headline, summary and grade are analysis of the bill text, not a finding about any person · How we grade

Caption

relating to establishing the permanent public school fund to reduce school district maintenance and operations ad valorem taxes and provide funding for public school prekindergarten programs.

Caption from analyzed text · version I.

Summary

Caption: tax relief and pre-K. Bill: “cryptocurrencies,” overriding the normal state investment rules.

The bill creates a new state fund, the permanent public school fund, and requires the comptroller to put $10 million into it at the start of each two-year budget cycle. Only the investment earnings can be spent, and only to lower school district maintenance and operations property taxes or to pay for public school pre-K programs. The comptroller must invest the money in cryptocurrencies, corporate bonds, municipal bonds and U.S. treasury bills, overriding the normal state investment rules.

Labels

Labels: NEVER GOT A HEARING. Filed Feb 25, 2025 and referred to the House Appropriations committee. No public hearing. The bill died.

Receipt

The receipt

89R-HB3301 · 2025-02-25

SOLD BY

Rep. Ron ReynoldsDHouse 27

ITEM

relating to establishing the permanent public school fund to reduce school district maintenance and operations ad valorem taxes and provide funding for public school prekindergarten programs.

WHAT IT DOES

Caption: tax relief and pre-K. Bill: “cryptocurrencies,” overriding the normal state investment rules.

CHARGES

[x] NEW FEE, FUND, BOARD OR APPOINTEESanalysis confidence 50%

THE TEXT

…“school fund is a special fund in the state treasury outside the”…

Bill text, introduced version (I)

The bill creates a new dedicated fund in the state treasury. The caption says so openly, so this is an honest fund bill, not a hidden one.

[x] CAPTION MISMATCHanalysis confidence 50%

THE TEXT

“(1) cryptocurrencies;”

Bill text, introduced version (I)

TOTAL

No fiscal note in the loaded record.

HISTORY

Feb 25, 2025Filed
Mar 21, 2025Read first time
Mar 21, 2025Referred to Appropriations

FILED UNDER

PROPERTY TAX RELIEF THAT ISN'T

THE TEXT

…“$10 million to the credit of the fund.”

Bill text, introduced version (I)

The tax relief is limited to investment earnings on a $10 million deposit each biennium, so whatever compression it pays for is limited by that small principal.

Smells

THANK YOU FOR CHECKING THE RECEIPT

CAMPAIGN PAID FOR BY

Ron Reynolds

Donors

Texas Sands PAC$30K Texas Trial Lawyers Association PAC$25K Texas House Democratic Campaign Committee$7K

Not tied to this bill.

Sources

The author's campaign account only. Own money and internal transfers are separate on the member page.

Derived itemized flow · Oct 29, 2024 to Oct 19, 2026. State data as of Nov 4, 2026.

Derived itemized contributions on live regular reports and uncovered special-session dates. Internal account transfers and daily reports are excluded.

Texas Sands PAC$30,000.00

Texas Sands PAC

$30,000.00

Cash: $30,000.00
Paid by others: $0.00
Total: $30,000.00

Also funds 121 other sitting lawmakers.

Derived recipient stock · Jul 3, 2024 to Oct 24, 2026. State data as of Nov 4, 2026.

TEC account match.

Team

Sources

Derived itemized flow · Dec 5, 2024 to Feb 19, 2026. State data as of Nov 4, 2026.

Derived itemized contributions on live regular reports and uncovered special-session dates. Internal account transfers and daily reports are excluded.

Report IDs: 100982635, 101040208.

Texas Trial Lawyers Association PAC$25,000.00

Texas Trial Lawyers Association PAC

$25,000.00

Cash: $25,000.00
Paid by others: $0.00
Total: $25,000.00

Also funds 137 other sitting lawmakers.

Derived recipient stock · Jul 24, 2024 to Oct 23, 2026. State data as of Nov 4, 2026.

TEC account match.

Team

Sources

Derived itemized flow · Nov 27, 2024 to Jan 16, 2026. State data as of Nov 4, 2026.

Derived itemized contributions on live regular reports and uncovered special-session dates. Internal account transfers and daily reports are excluded.

Report IDs: 100982635, 101028685, 101035822.

Texas House Democratic Campaign Committee$7,000.00

Texas House Democratic Campaign Committee

$7,000.00

Cash: $7,000.00
Paid by others: $0.00
Total: $7,000.00

Also funds 9 other sitting lawmakers.

Derived recipient stock · Oct 15, 2024 to Oct 15, 2026. State data as of Nov 4, 2026.

Name match, not a verified identity: normalized filed name and state.

Team

Sources

Derived itemized flow · on Apr 30, 2026. State data as of Nov 4, 2026.

Derived itemized contributions on live regular reports and uncovered special-session dates. Internal account transfers and daily reports are excluded.

Report IDs: 101057584.

Money

Missing data does not establish zero giving. Display amounts are rounded.

Texas Sands PAC

$30,000.00

Cash: $30,000.00
Paid by others: $0.00
Total: $30,000.00

Also funds 121 other sitting lawmakers.

Derived recipient stock · Jul 3, 2024 to Oct 24, 2026. State data as of Nov 4, 2026.

TEC account match.

Team

Sources

Derived itemized flow · Dec 5, 2024 to Feb 19, 2026. State data as of Nov 4, 2026.

Derived itemized contributions on live regular reports and uncovered special-session dates. Internal account transfers and daily reports are excluded.

Report IDs: 100982635, 101040208.

Texas Trial Lawyers Association PAC

$25,000.00

Cash: $25,000.00
Paid by others: $0.00
Total: $25,000.00

Also funds 137 other sitting lawmakers.

Derived recipient stock · Jul 24, 2024 to Oct 23, 2026. State data as of Nov 4, 2026.

TEC account match.

Team

Sources

Derived itemized flow · Nov 27, 2024 to Jan 16, 2026. State data as of Nov 4, 2026.

Derived itemized contributions on live regular reports and uncovered special-session dates. Internal account transfers and daily reports are excluded.

Report IDs: 100982635, 101028685, 101035822.

Texas House Democratic Campaign Committee

$7,000.00

Cash: $7,000.00
Paid by others: $0.00
Total: $7,000.00

Also funds 9 other sitting lawmakers.

Derived recipient stock · Oct 15, 2024 to Oct 15, 2026. State data as of Nov 4, 2026.

Name match, not a verified identity: normalized filed name and state.

Team

Sources

Derived itemized flow · on Apr 30, 2026. State data as of Nov 4, 2026.

Derived itemized contributions on live regular reports and uncovered special-session dates. Internal account transfers and daily reports are excluded.

Report IDs: 101057584.

Votes

No floor vote loaded for this bill.

Fiscal

No fiscal note in the loaded record.

How this was graded

Analysis of text version I by claude-opus-5-5, Oct 20, 2026, against the published rubric.

Sources

Texas House · Filed Feb 25, 2025

03/21/2025 H Referred to Appropriations: Mar 21 2025 9:52AM

Texas Legislature Online · Introduced

Data snapshot Oct 26, 2026 at 4:19 AM CDT. Grades, charges, quotes and corrections follow the published record.

House committee · Appropriations · Final status: Died in committee

Subjects

Education--Primary & Secondary--Finance

State Finances--Management & Control

Taxation--School District

PRESCHOOL & PREKINDERGARTEN

Text

The text as introduced · 301 words

89R10923 KJE-D

By: Reynolds
H.B. No. 3301

A BILL TO BE ENTITLED

AN ACT

relating to establishing the permanent public school fund to reduce

school district maintenance and operations ad valorem taxes and

provide funding for public school prekindergarten programs.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:

SECTION 1. Subtitle I, Title 2, Education Code, is amended

by adding Chapter 47A to read as follows:

CHAPTER 47A. PERMANENT PUBLIC SCHOOL FUND

Sec. 47A.001. DEFINITION. In this chapter, "fund" means

the permanent public school fund.

Sec. 47A.002. FUND ESTABLISHED. (a) The permanent public

school fund is a special fund in the state treasury outside the

general revenue fund.

(b) The fund consists of:

(1) money appropriated by the legislature for deposit

to the credit of the fund; and

(2) interest or other earnings attributable to the

investment of money in the fund.

Sec. 47A.003. USES OF FUND. (a) The legislature may not

appropriate money from the fund other than the interest or other

earnings attributable to the investment of money in the fund.

(b) The interest or other earnings attributable to the

investment of money in the fund may be appropriated only to:

(1) reduce school district maintenance and operations

ad valorem taxes by reducing the state compression percentage under

Section 48.255; or

(2) provide funding for prekindergarten programs

under Subchapter E, Chapter 29.

Sec. 47A.004. DEPOSIT OF MONEY. Not later than the first

day of each state fiscal biennium, the comptroller shall deposit

$10 million to the credit of the fund.

Sec. 47A.005. INVESTMENT OF FUND. Notwithstanding Section

404.024(b), Government Code, the comptroller shall invest money in

the fund in:

(1) cryptocurrencies;

(2) corporate bonds;

(3) municipal bonds; and

(4) treasury bills issued by the United States

government.

SECTION 2. This Act takes effect September 1, 2025.