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Senate Bill 1640 |
Senate Author: Williams |
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Effective: See below |
House Sponsor: Chisum et al. |
Senate Bill 1640 amends the Education Code to authorize the Texas Higher Education Coordinating Board to issue an additional $500 million in general obligation bonds for the student loan program. The bill revises the required use of funds received by the board in relation to the loan program and deposited in one or more interest and sinking funds, authorizes the board to transfer funds between the Texas Opportunity Plan Fund and the student loan auxiliary fund, and requires the board to prescribe the manner of giving notice of a sale of bonds by competitive bid. The bill also clarifies provisions relating to a student's eligibility for certain fee exemptions. Senate Bill 1640 takes effect contingent on voter approval of the constitutional amendment proposed by Senate Joint Resolution 57.