By Nixon S.B. No. 848
76R5532 CAG-D
A BILL TO BE ENTITLED
1-1 AN ACT
1-2 relating to the use of a scholarship fund for fifth-year accounting
1-3 students.
1-4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-5 SECTION 1. Sections 32(c) and (d), Public Accountancy Act of
1-6 1991 (Article 41a-1, Vernon's Texas Civil Statutes), are amended to
1-7 read as follows:
1-8 (c) Each fee collected under this section shall be deposited
1-9 to the credit of the scholarship fund for fifth-year accounting
1-10 students as a special fund in the [state] treasury outside the
1-11 general revenue fund [to the credit of a special fund to be known
1-12 as the scholarship fund for fifth-year accounting students]. The
1-13 fund may be appropriated [used] only to [by] the Texas Higher
1-14 Education Coordinating Board for providing scholarships to
1-15 accounting students in the fifth year of a program that would
1-16 qualify the recipient to apply to become a certified public
1-17 accountant, as provided by Subchapter N, Chapter 61, Education
1-18 Code, and to [by] the Texas Higher Education Coordinating Board and
1-19 the Texas State Board of Public Accountancy for paying associated
1-20 administrative costs, subject to Subsection (e) of this section.
1-21 Interest earned on the fund shall be credited to the fund.
1-22 (d) The fund is exempt from the application of Section
1-23 403.095 [Notwithstanding Section 404.071], Government Code[,
1-24 interest earned on amounts in the scholarship fund for fifth-year
2-1 accounting students shall be credited to that fund].
2-2 SECTION 2. On the effective date of this Act, the
2-3 comptroller of public accounts shall transfer the balance of the
2-4 scholarship fund for fifth-year accounting students as it exists
2-5 immediately before the effective date of this Act to the special
2-6 fund outside the general revenue fund created by this Act.
2-7 SECTION 3. The importance of this legislation and the
2-8 crowded condition of the calendars in both houses create an
2-9 emergency and an imperative public necessity that the
2-10 constitutional rule requiring bills to be read on three several
2-11 days in each house be suspended, and this rule is hereby suspended,
2-12 and that this Act take effect and be in force from and after its
2-13 passage, and it is so enacted.