1-1 By: Ellis S.B. No. 315 1-2 (In the Senate - Filed January 29, 1999; February 2, 1999, 1-3 read first time and referred to Committee on Education; 1-4 March 4, 1999, reported favorably by the following vote: Yeas 8, 1-5 Nays 0; March 4, 1999, sent to printer.) 1-6 A BILL TO BE ENTITLED 1-7 AN ACT 1-8 relating to authorizing certain prepaid tuition contracts to cover 1-9 tuition for an additional period of attendance at an institution of 1-10 higher education. 1-11 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: 1-12 SECTION 1. Subsection (a), Section 54.6252, Education Code, 1-13 is amended to read as follows: 1-14 (a) The board may permit the purchaser of a prepaid tuition 1-15 contract for a senior college plan or a private college plan at any 1-16 time during which the contract is in effect and before the 1-17 beneficiary graduates from high school to enter into a supplemental 1-18 contract to prepay the tuition and required fees of the beneficiary 1-19 for a number of undergraduate credit hours, in addition to the 1-20 undergraduate credit hours included in the primary contract, equal 1-21 to the number of credit hours purchased for one year under the 1-22 primary contract. The additional credit hours must be for the same 1-23 type of institution as the credit hours purchased under the primary 1-24 contract. 1-25 SECTION 2. (a) Except as provided by Subsection (b) of this 1-26 section, the amendment made by this Act to Section 54.6252, 1-27 Education Code, does not apply to a prepaid tuition contract 1-28 entered into before the effective date of this Act. 1-29 (b) The Prepaid Higher Education Tuition Board may permit 1-30 the purchaser of a prepaid tuition contract entered into before the 1-31 effective date of this Act to amend the contract to conform to 1-32 Section 54.6252, Education Code, as amended by this Act. The board 1-33 may require the purchaser to make increased or additional payments 1-34 as necessary to compensate for any additional costs that the board 1-35 estimates will be incurred under the contract because of the 1-36 contract amendment. 1-37 SECTION 3. This Act takes effect September 1, 1999. 1-38 SECTION 4. The importance of this legislation and the 1-39 crowded condition of the calendars in both houses create an 1-40 emergency and an imperative public necessity that the 1-41 constitutional rule requiring bills to be read on three several 1-42 days in each house be suspended, and this rule is hereby suspended. 1-43 * * * * *