1-1 By: Nixon S.B. No. 848
1-2 (In the Senate - Filed March 3, 1999; March 8, 1999, read
1-3 first time and referred to Committee on Finance; April 27, 1999,
1-4 reported favorably by the following vote: Yeas 9, Nays 0;
1-5 April 27, 1999, sent to printer.)
1-6 A BILL TO BE ENTITLED
1-7 AN ACT
1-8 relating to the use of a scholarship fund for fifth-year accounting
1-9 students.
1-10 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-11 SECTION 1. Subsections (c) and (d), Section 32, Public
1-12 Accountancy Act of 1991 (Article 41a-1, Vernon's Texas Civil
1-13 Statutes), are amended to read as follows:
1-14 (c) Each fee collected under this section shall be deposited
1-15 to the credit of the scholarship fund for fifth-year accounting
1-16 students as a special fund in the [state] treasury outside the
1-17 general revenue fund [to the credit of a special fund to be known
1-18 as the scholarship fund for fifth-year accounting students]. The
1-19 fund may be appropriated [used] only to [by] the Texas Higher
1-20 Education Coordinating Board for providing scholarships to
1-21 accounting students in the fifth year of a program that would
1-22 qualify the recipient to apply to become a certified public
1-23 accountant, as provided by Subchapter N, Chapter 61, Education
1-24 Code, and to [by] the Texas Higher Education Coordinating Board and
1-25 the Texas State Board of Public Accountancy for paying associated
1-26 administrative costs, subject to Subsection (e) of this section.
1-27 Interest earned on the fund shall be credited to the fund.
1-28 (d) The fund is exempt from the application of Section
1-29 403.095 [Notwithstanding Section 404.071], Government Code[,
1-30 interest earned on amounts in the scholarship fund for fifth-year
1-31 accounting students shall be credited to that fund].
1-32 SECTION 2. On the effective date of this Act, the
1-33 comptroller of public accounts shall transfer the balance of the
1-34 scholarship fund for fifth-year accounting students as it exists
1-35 immediately before the effective date of this Act to the special
1-36 fund outside the general revenue fund created by this Act.
1-37 SECTION 3. The importance of this legislation and the
1-38 crowded condition of the calendars in both houses create an
1-39 emergency and an imperative public necessity that the
1-40 constitutional rule requiring bills to be read on three several
1-41 days in each house be suspended, and this rule is hereby suspended,
1-42 and that this Act take effect and be in force from and after its
1-43 passage, and it is so enacted.
1-44 * * * * *