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A BILL TO BE ENTITLED
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AN ACT
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relating to the award of scholarship money by the Texas State Board |
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of Public Accountancy to certain accounting students. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 901.155, Occupations Code, is amended to |
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read as follows: |
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Sec. 901.155. SCHOLARSHIP TRUST FUND FOR [FIFTH-YEAR] |
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ACCOUNTING STUDENTS. (a) The fee for the issuance or renewal of a |
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license under this chapter consists of: |
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(1) the amount of the fee set by the board under |
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Section 901.154; and |
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(2) an additional $10 annual fee to be deposited to the |
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credit of the scholarship trust fund for [fifth-year] accounting |
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students. |
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(b) The scholarship trust fund for [fifth-year] accounting |
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students is held by the board outside the state treasury and may be |
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used only to: |
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(1) provide scholarships under Subchapter N to |
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accounting students in [the fifth year of] a program designed to |
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qualify each student to apply for certification as a certified |
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public accountant; and |
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(2) pay administrative costs under Subsection (c). |
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(c) The administrative costs incurred to collect the fee |
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imposed under Subsection (a)(2) and to disburse the money may not |
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exceed 10 percent of the total money collected. |
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(d) Notwithstanding Section 404.071, Government Code, |
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interest earned on amounts in the scholarship trust fund for |
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[fifth-year] accounting students shall be credited to that fund. |
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SECTION 2. The heading to Subchapter N, Chapter 901, |
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Occupations Code, is amended to read as follows: |
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SUBCHAPTER N. SCHOLARSHIPS FOR [FIFTH-YEAR] ACCOUNTING STUDENTS |
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SECTION 3. Section 901.653, Occupations Code, is amended to |
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read as follows: |
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Sec. 901.653. SCHOLARSHIPS. The board shall establish and |
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administer, using funds collected and appropriated for that purpose |
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and in accordance with this subchapter and board rules, |
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scholarships for [fifth-year] accounting students. |
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SECTION 4. Section 901.654(b), Occupations Code, is amended |
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to read as follows: |
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(b) In determining what best promotes the public purpose, |
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the board shall consider at a minimum the following factors |
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relating to each person applying for a scholarship under this |
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section: |
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(1) financial need; |
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(2) ethnic or racial minority status; and |
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(3) scholastic ability and performance in at least 15 |
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hours of upper-level accounting coursework. |
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SECTION 5. Section 901.656(a), Occupations Code, is amended |
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to read as follows: |
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(a) The board shall determine the maximum amount of any |
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scholarship awarded under this subchapter. The scholarship may be |
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spent by the recipient on the expenses for tuition, fees, books, |
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supplies, and living expenses incurred by the student in connection |
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with the accounting student's study in [fifth year of] an |
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accounting program. Scholarships shall be made available to |
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eligible students attending: |
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(1) any institution of higher education; or |
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(2) any nonprofit independent institution approved by |
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the Texas Higher Education Coordinating Board under Section 61.222, |
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Education Code. |
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SECTION 6. Section 901.660(a), Occupations Code, is amended |
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to read as follows: |
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(a) Before January 15 of each odd-numbered year, the board |
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shall report to the legislature concerning the scholarship program |
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for [fifth-year] accounting students administered by the board |
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under this subchapter. |
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SECTION 7. Section 901.651, Occupations Code, is repealed. |
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SECTION 8. The Texas State Board of Public Accountancy |
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shall adopt rules necessary to implement the changes in law made by |
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this Act not later than October 1, 2023. |
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SECTION 9. This Act takes effect immediately if it receives |
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a vote of two-thirds of all the members elected to each house, as |
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provided by Section 39, Article III, Texas Constitution. If this |
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Act does not receive the vote necessary for immediate effect, this |
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Act takes effect September 1, 2023. |