88R7862 SCP-F

By: Button H.B. No. 3520

A BILL TO BE ENTITLED

AN ACT

relating to the regulation of public accountancy.

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

SECTION 1. Section 901.252, Occupations Code, is amended to read as follows:

Sec. 901.252. ELIGIBILITY REQUIREMENTS. To be eligible to receive a certificate, a person must:

(1) satisfy the requirements of Section 901.253;

(2) meet the education requirements established under Section 901.254 [or 901.255];

(3) pass the uniform CPA examination;

(4) meet the work experience requirements established under Section 901.256; and

(5) pass an examination on the rules of professional conduct as determined by board rule.

SECTION 2. Section 901.256(a), Occupations Code, is amended to read as follows:

(a) To be eligible to receive a certificate, a person must complete[:

[(1) at least two years of work experience under the supervision of a certified public accountant; or

[(2)] at least one year of work experience acceptable to the board and under the supervision of a certified public accountant, including experience providing a service or advice involving accounting, attest services, management or financial advisory or consulting services, tax services, or other services the board considers appropriate for an accountant[, if the person:

[(A) has completed at least 150 semester hours of college credits; or

[(B) holds a graduate degree].

SECTION 3. Section 901.304(a), Occupations Code, is amended to read as follows:

(a) For each examination or reexamination, the board by rule shall apportion an amount of the total examination fee among the parts of the examination that an applicant is eligible to take on a particular examination date. For each examination or reexamination, the board shall collect from each applicant a fee set by board rule not to exceed the cost of administering the parts of the examination that the applicant is eligible to take.

SECTION 4. The heading to Section 901.310, Occupations Code, is amended to read as follows:

Sec. 901.310. PASSAGE OF [CONDITIONAL] EXAMINATION [CREDIT].

SECTION 5. Section 901.310(c), Occupations Code, is amended to read as follows:

(c) The board shall consider a person to have passed an examination if the person receives credit for each subject within the time prescribed by the board [by receiving conditional credit after September 1, 1989, and passing the remaining subjects within the six consecutive examinations following the examination for which the person receives conditional credit].

SECTION 6. Section 901.311, Occupations Code, is amended to read as follows:

Sec. 901.311. RESTRUCTURE OF EXAMINATION. On the restructuring of [If] the uniform CPA examination [is restructured], the board by rule shall determine the manner in which credit for a subject is integrated into the new structure.

SECTION 7. Section 901.355(a), Occupations Code, is amended to read as follows:

(a) The holder of a certificate, license, or degree authorizing the person to practice public accountancy in a foreign country who on or before September 1, 2023, registered [may register] with the board as the holder of a certificate, license, or degree issued by the foreign country may continue to practice in this state under that registration for as long as the person stays in compliance with the provisions of this chapter and board rules applicable to the person[, if the board determines that the standards under which the applicant was certified or otherwise authorized to practice public accountancy were at least as high as the standards of this state at the time that authority was granted].

SECTION 8. The following provisions of the Occupations Code are repealed:

(1) Section 901.255;

(2) Sections 901.310(a) and (b); and

(3) Sections 901.355(b) and (c).

SECTION 9. This Act takes effect immediately if it receives a vote of two-thirds of all the members elected to each house, as provided by Section 39, Article III, Texas Constitution. If this Act does not receive the vote necessary for immediate effect, this Act takes effect September 1, 2023.