BILL ANALYSIS
Senate Research Center S.B. 1844
By: Harris
AUTHOR'S/SPONSOR'S STATEMENT OF INTENT
The 72nd Legislature, Regular Session, 1991, provided for the establishment of a scholarship fund for fifth-year accounting students, funded by a $10 per annum fee paid by licensed Certified Public Accountants. The fund is to provide scholarships to qualified students. There is currently a maximum scholarship amount that can be given of $3,000. The financial needs of a fifth-year accounting student have grown substantially since 1991, and the current limit on the scholarship amount is insufficient to provide the level of assistance envisioned when the program was created.
S.B. 1844 eliminates the scholarship limit and requires the Texas Higher Education Coordinating Board, along with an advisory committee, to determine the maximum scholarship amount given to a student.
RULEMAKING AUTHORITY
SECTION BY SECTION ANALYSIS
SECTION 1. Amends Section 61.756(a), Education Code, to require the Texas Higher Education Coordinating Board (board), in consultation with the advisory committee appointed under Section 61.757 (Advisory Committee), to determine the maximum amount of any scholarship for a fifth-year accounting student awarded under this subchapter. Requires scholarships to be made available to eligible students attending any institution of higher education or any nonprofit independent institution approved by the board under Section 61.222 (Approved Institutions). Deletes existing text providing that the maximum scholarship amount under this subchapter is $3,000. Makes nonsubstantive changes.
SECTION 2. Amends Section 61.757(c), Education Code, to require the advisory committee to specifically advise the board on certain matters, including the amount of money needed to adequately fund the scholarships and the maximum amount that may be awarded in any given year to an individual student. Makes a nonsubstantive change.
SECTION 3. (a) Makes application of this Act prospective.
(b) Authorizes the Texas Higher Education Coordinating Board, before January 1, 2006, to adopt rules for the administration of Section 61.756(a), Education Code, as amended by this Act, in the manner provided by law for emergency rules.
SECTION 4. Effective date: upon passage or September 1, 2005.