Honorable Judith Zaffirini, Chair, Senate Committee on S/C on Higher Education
FROM:
John S. O'Brien, Director, Legislative Budget Board
IN RE:
SB2048 by Shapleigh (Relating to a prohibition against certain activities by a person employed in the financial aid office of a public institution of higher education.), As Introduced
No significant fiscal implication to the State is anticipated.
The bill relates to a prohibition against certain activities by a person employed in the financial aid office of a public institution of higher education. Under provisions of the bill, a person employed by an institution of higher education in the financial aid office of the institution may not: (1) own stock or hold another ownership interest in a student loan lender, other than through ownership of shares in a publicly traded mutual fund or similar investment vehicle in which the person does not exercise any discretion regarding the investment of the assets of the fund or other investment vehicle; or (2) solicit or accept any gift from a student loan lender.
Local Government Impact
No fiscal implication to units of local government is anticipated.
Source Agencies:
768 Texas Tech University System Administration, 769 University of North Texas System Administration, 781 Higher Education Coordinating Board