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AN ACT
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relating to the student endowment scholarship and internship |
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program fund at Texas A&M University--Corpus Christi. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subchapter E, Chapter 54, Education Code, is |
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amended by adding Section 54.5395 to read as follows: |
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Sec. 54.5395. STUDENT ENDOWMENT FUND FEE; TEXAS A&M |
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UNIVERSITY--CORPUS CHRISTI. (a) The board of regents of The Texas |
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A&M University System may impose a student endowment fund fee on |
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each student enrolled at Texas A&M University--Corpus Christi. The |
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fee may not be imposed unless approved by a majority vote of the |
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students participating in a general student election held at the |
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university under Section 56.243. |
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(b) The amount of the fee may not exceed $1 per semester |
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credit hour for each regular semester or summer session, unless the |
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amount is increased as provided by Subsection (c). |
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(c) The amount of the fee may not be increased by more than |
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10 percent unless the increase has been approved by a majority vote |
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of the students enrolled at the university who participate in a |
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general student election called for that purpose. |
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(d) A fee imposed under this section must be used to |
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establish a student endowment fund under Section 56.247. |
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(e) A fee imposed under this section is in addition to any |
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other fee authorized by law and may not be considered in determining |
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the maximum amount of student services fees that may be imposed |
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under Section 54.503(b). |
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SECTION 2. Section 56.243, Education Code, is amended to |
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read as follows: |
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Sec. 56.243. ELECTION TO PARTICIPATE. A [Not later than
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September 1, 2004, a] general academic teaching institution may |
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elect to participate in the Student Endowment Scholarship and |
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Internship Program. For the institution to make the election, the |
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student government of the institution must determine by official |
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action that the program would benefit the institution. If the |
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student government determines that the program would benefit the |
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institution, in a general election called for that purpose a |
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majority of the students of the institution voting in the election |
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must approve an additional fee and the potential matching grant |
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from the state. If the majority approves the additional fee and |
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potential matching grant from the state, the governing board of the |
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institution shall impose and decide the structure of the additional |
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fee. |
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SECTION 3. Section 56.246, Education Code, is amended to |
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read as follows: |
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Sec. 56.246. AMOUNT OF SCHOLARSHIP OR INTERNSHIP FUNDING. |
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(a) [During the five-year period during which the institution may
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receive state matching funds, the amount of student endowment
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scholarship funding for an internship may not exceed $500 per
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semester or summer session.
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[(b)] The amount of a student endowment scholarship may not |
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exceed the amount of tuition and required fees that a student would |
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be charged by the institution. |
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(b) [(c)] The amount of student endowment internship |
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funding may not exceed the amount of tuition and required fees that |
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a student would be charged by the institution during the student's |
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period of internship. |
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(c) [(d)] On receipt of a scholarship or internship funding |
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under this subchapter, a student must comply with any applicable |
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conditions of the scholarship or internship funding. |
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SECTION 4. Subsections (a) and (c), Section 56.247, |
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Education Code, are amended to read as follows: |
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(a) Each institution shall establish a student endowment |
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fund consisting of the revenue from the additional student fee[,
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the state matching funds appropriated for the purpose,] and the |
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interest and other income from investment of the fund. The fund |
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shall be invested by the governing board in accordance with the |
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policies governing investment of other funds held and invested by |
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the board on behalf of the institution. |
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(c) Scholarships and internships may be paid from both the |
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income and the principal of the fund, except that after the first |
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five-year period after the date the fund is established, [during
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which state matching funds are payable, for any year] not more than |
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five percent of the principal of the fund may be expended for |
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scholarships and internships for any year. |
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SECTION 5. This Act applies beginning with the 2007 fall |
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semester. |
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SECTION 6. This Act takes effect September 1, 2007. |
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______________________________ |
______________________________ |
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President of the Senate |
Speaker of the House |
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I hereby certify that S.B. No. 1417 passed the Senate on |
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April 26, 2007, by the following vote: Yeas 31, Nays 0. |
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______________________________ |
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Secretary of the Senate |
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I hereby certify that S.B. No. 1417 passed the House on |
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May 17, 2007, by the following vote: Yeas 143, Nays 0, two |
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present not voting. |
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______________________________ |
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Chief Clerk of the House |
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Approved: |
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______________________________ |
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Date |
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______________________________ |
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Governor |