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Amend CSHB 1172 by adding the following new SECTIONs to the
bill, appropriately numbered, and renumbering the subsequent
SECTIONs of the bill accordingly:
SECTION ___. Subsection (c), Section 52.91, Education Code,
is amended to read as follows:
(c) The board shall repay bonds issued by the board to fund
the Texas B-On-time student loan program using legislative
appropriations and money collected by the board as repayment for
Texas B-On-time student loans awarded by the board. The board may
use tuition set aside under Section 56.465 to repay bonds issued by
the board for the Texas B-On-time student loan program. The board
may not use money collected by the board as repayment for student
loans awarded by the board under Subchapter C to repay bonds issued
by the board for the Texas B-On-time student loan program under
Section 56.464(b).
SECTION ___. Subsection (b), Section 56.463, Education
Code, is amended to read as follows:
(b) Money in the Texas B-On-time student loan account may be
used only to pay any costs of the coordinating board related to the
operation of the Texas B-On-time loan program and as otherwise
provided by this subchapter.
SECTION ___. Subsection (b), Section 56.465, Education
Code, is amended to read as follows:
(b) The amount of tuition set aside under Subsection (a)
shall be deposited to the credit of the Texas B-On-time student loan
account established under Section 56.463 or to the interest and
sinking fund established by the coordinating board under Section
52.91(b) in accordance with the resolution of the board
establishing such fund.
SECTION ___. The Texas Higher Education Coordinating Board
shall, as necessary, adopt rules consistent with Sections 52.91,
56.463, and 56.465, Education Code, as amended by this Act, as soon
as practicable after this Act takes effect. For that purpose, the
coordinating board may adopt the rules in the manner provided by law
for emergency rules.