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House Bill 2440 |
House Author: McCall |
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Effective: 9-1-09 |
Senate Sponsor: Williams |
House Bill 2440 amends the Occupations Code to specify that a scholarship fund for fifth-year accounting students is a trust fund held by the Texas State Board of Public Accountancy outside the state treasury, rather than an account in the general revenue fund; to conform the additional fee that accompanies each license fee and that is designated for deposit to the credit of the trust fund to reflect the one-year term for each license and license renewal; and to lower the cap on administrative costs incurred to collect and distribute the fee from 15 percent to 10 percent of the total money collected. The bill removes a provision specifying an allocation of the money for administrative cost between the Texas Higher Education Coordinating Board and the Texas State Board of Public Accountancy.
The bill transfers provisions relating to scholarships for fifth-year accounting students from the Education Code to the Occupations Code and transfers functions and authority relating to these provisions from the Texas Higher Education Coordinating Board to the Texas State Board of Public Accountancy. Previous law authorized the state board to use only money appropriated to it from the fund. The bill specifies that the state board is authorized to use without appropriation any money from the trust fund. The bill requires the state board, not later than January 1, 2010, to adopt the rules required to implement provisions concerning the scholarship trust fund for fifth-year accounting students and requires the coordinating board on September 1, 2009, to transfer specified amounts to the state board for deposit in the trust fund.