S.B. 968 78(R)    BILL ANALYSIS


S.B. 968
By: Shapleigh
Higher Education
Committee Report (Unamended)



BACKGROUND AND PURPOSE 

Individual development account (IDA) programs provide matching funds for
individuals' savings 
contributions, giving them the opportunity to build savings over a period
of time. IDA savings 
can be used toward home ownership, small business entrepreneurship, and
educational expense. 
While the variety of funding streams ensures the continuation of IDA
programs, some eligible 
participants lack awareness of this savings opportunity. As proposed, S.B.
968 directs the Texas 
Higher Education Coordinating Board to provide information regarding IDA
programs to public 
junior college financial aid offices in an effort to expand awareness of
such programs to junior 
college students.


RULEMAKING AUTHORITY

Rulemaking authority is expressly granted to the Texas Higher Education
Coordinating Board in 
SECTION 1 (Section 61.0816, Education Code) of this bill.


ANALYSIS

SECTION 1. Amends Subchapter C, Chapter 61, Education Code, by adding
Section 61.0816, 
as follows:

Sec. 61.0816. INDIVIDUAL DEVELOPMENT ACCOUNT INFORMATION PROGRAM. (a)
Requires the Texas Higher Education Coordinating Board (THECB) to
establish and administer a program to provide student financial aid
offices at public junior colleges with information and other assistance to
enable those offices to provide appropriate students of those colleges
with information and referrals regarding the availability of and services
offered by individual development account programs. Requires THECB to
evaluate the program as necessary to determine the effectiveness of the
program at increasing student awareness of and participation in individual
development account programs. 

 (b) Authorizes THECB to adopt rules for the administration of this
section. 

SECTION 2. Effective date: upon passage or September 1, 2003.


EFFECTIVE DATE

This Act takes effect immediately if it receives a vote of two-thirds of
all the members elected to each house, as provided by Section 39, Article
III, Texas Constitution.  If this Act does not receive the vote necessary
for immediate effect, this Act takes effect September 1, 2003.