KUT Morning Newspod July 14, 2011
UT Regents May Increase Endowment Payout
The University of Texas System Board of Regents is scheduled to vote Thursday on whether to increase the payout rate for the state’s major higher education endowment, the Permanent University Fund. The proposed 2012 increase would be over 13 percent for a total of more than $575 million. The UT System and the Texas A&M System share the funds, but UT gets more.
UT System officials are recommending the higher endowment payout. They cite a record year of royalty income and strong investments for the Permanent University Fund. They also note that universities are in need of extra money because of state budget cuts.
Texas Companies Applying for Federal Air Permits
More than a hundred Texas refinery, chemical and utility plants have told the Environmental Protection Agency that they plan to apply for a federal air permit. Last year, the federal government declared the state’s flexible air program violated the Clean Air Act. A lawsuit is pending against the EPA’s ruling but as KUT’s Erika Aguilar reports, companies are moving forward with getting permits through the federal government anyway.
County Approves F1 Building Permits
Developers of the Formula One race track southeast of Austin could start building the actual buildings on the site soon. Site clearing has already begun but Travis County officials issued the building permits Wednesday. Developers could soon start pouring concrete foundations for the pit center, media and medical facilities. Austin’s first F1 Grand Prix race is tentatively scheduled for next June.