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By:  Ellis                                                        S.B. No. 1553


A BILL TO BE ENTITLED

AN ACT

relating to the creation of a program for alternative funding of 
Toward EXcellence, Access, & Success (TEXAS) grants.
	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:                        
	SECTION 1.  Section 56.310, Education Code, is amended by 
amending Subsection (a) and adding Subsection (c) to read as 
follows:
	(a)  The coordinating board shall [may] solicit and accept 
gifts, [and] grants, and donations from any public or private 
source for the purposes of this subchapter.
	(c)  In performing its duties under Subsection (a), the 
coordinating board shall develop and implement an appropriate 
process for the naming and sponsoring of the program created under 
this subchapter, an individual grant awarded under this subchapter, 
or any item received by the coordinating board under Subsection 
(a).
	SECTION 2.  Subsection (a), Section 56.302, Education Code, 
is amended to read as follows:
	(a)  Except as provided under Section 56.310(c), the [The] 
student financial assistance program authorized by this subchapter 
is known as the Toward EXcellence, Access, & Success (TEXAS) grant 
program, and an individual grant awarded under this subchapter is 
known as a TEXAS grant.
	SECTION 3.  The Texas Higher Education Coordinating Board 
shall:             
		(1)  study alternative methods of funding the Toward 
EXcellence, Access, & Success (TEXAS) grant program created under 
Subchapter M, Chapter 56, Education Code; and
		(2)  not later than September 1, 2006, report to the 
Legislative Oversight Committee on the TEXAS grant program and 
Teach for Texas grant program concerning the results of the study.
	SECTION 4.  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, 2005.