SRC-JLB S.B. 968 78(R)   BILL ANALYSIS


Senate Research Center   S.B. 968
78R6412 KSD-DBy: Shapleigh
Education
4/29/2003
As Filed


DIGEST 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. 

SECTION BY SECTION 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.