SRC-JBJ H.B. 2359 76(R) BILL ANALYSIS Senate Research Center H.B. 2359 76R11739 ESH-FBy: Olivo (West) Education 5/7/1999 Engrossed DIGEST The Investment Capital Fund (ICF) was created in 1993 by the Texas Legislature to assist schools which are committed to improving student achievement and partnerships between parents and community members. ICF provides grants of up to $50,000 per year to any eligible school for staff development, parent education and training, and student enrichment. It is anticipated that more than 300 schools will participate in the program during the coming biennium. H.B. 2359 would eliminate the statutory prohibition against more than 25 percent of the funds being used for strategies to extend and enrich student learning beyond the regular school day. PURPOSE As proposed, H.B. 2359 eliminates the statutory prohibition that not more than 25 percent of certain funds may be used in strategies to extend and enrich student learning beyond the regular school day. RULEMAKING AUTHORITY This bill does not grant any additional rulemaking authority to a state officer, institution, or agency. SECTION BY SECTION ANALYSIS SECTION 1. Amends Section 7.024(d), Education Code, to delete language authorizing only 25 percent of a grant to be used to implement strategies to enrich or extend student learning. SECTION 2. Effective date: September 1, 1999. SECTION 3.Emergency clause.