TO: | Honorable Judith Zaffirini, Chair, Senate Committee on Higher Education |
FROM: | John S. O'Brien, Director, Legislative Budget Board |
IN RE: | SB816 by Patrick, Dan (relating to the Texas Teach Corps Loan Repayment Assistance Program for undergraduate students who agree to teach in school districts in this state that have shortages of teachers in mathematics or science.), Committee Report 1st House, Substituted |
Fiscal Year | Probable Net Positive/(Negative) Impact to General Revenue Related Funds |
---|---|
2010 | ($17,710) |
2011 | ($68,131) |
2012 | ($56,957) |
2013 | ($5,056,957) |
2014 | ($10,056,957) |
Fiscal Year | Probable Savings/(Cost) from GENERAL REVENUE FUND 1 |
---|---|
2010 | ($17,710) |
2011 | ($68,131) |
2012 | ($56,957) |
2013 | ($5,056,957) |
2014 | ($10,056,957) |
Fiscal Year | Change in Number of State Employees from FY 2009 |
---|---|
2010 | 0.0 |
2011 | 1.0 |
2012 | 1.0 |
2013 | 1.0 |
2014 | 1.0 |
The bill would create the Texas Teach Corps Student Loan Repayment Assistance Program, administered by the Higher Education Coordinating Board, for eligible students who agree to teach in public schools that have teacher shortages in math and science. Under provisions of the bill, not more than 4,000 eligible persons may be awarded loan repayment assistance in any one year, but beginning in the 2012-13 academic year, not more than 1,000 eligible persons may receive loans. The number of eligible persons would increase by a 1,000 each academic year.
Subject to the availablity of funds, the amount of an assistance payment provided under the bill in any year could not exceed $5,000. Except as provided for the bill, for the first school year of employment and each following consecutive school year of employment, not to exceed four years, the Higher Education Coordinating Board may provide assistance for the repayment of a portion of an eligible person's eligible loans.
The bill would create the mathematics and science teacher investment fund. The fund is a dedicated account in the general revenue fund and consists of appropriations of money to the fund by the legislature; gifts, grants, and other donations received for the fund; and interest and other earnings from the investment of the fund. The fund could only be used to provide repayment assistance for the repayment of eligible loans as specified in the bill.
Under provisions of the bill, the Higher Education Coordinating Board would begin providing loan repayment assistance for eligible persons teaching in the 2012-13 school year.
Source Agencies: | 710 Texas A&M University System Administrative and General Offices, 720 The University of Texas System Administration, 758 Texas State University System, 768 Texas Tech University System Administration, 769 University of North Texas System Administration, 781 Higher Education Coordinating Board, 783 University of Houston System Administration
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LBB Staff: | JOB, KK, RT, GO
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