Amend CSSB 40 (house committee printing) as follows:

(1)  Strike SECTION 4 of the bill, amending Sections 57.13(a) and (b), Education Code (page 3, line 26, through page 4, line 16), and substitute the following:

SECTION 4.  Section 57.13(b), Education Code, is amended to read as follows:

(b)  The governor, with the advice and consent of the senate, shall appoint the [10] members of [to] the board as follows:

(1)  five members who must have knowledge of or experience in finance, including management of funds or business operations;

(2)  one member who must be a student enrolled at a postsecondary educational institution for the number of credit hours required by the institution to be classified as a full-time student of the institution; and

(3)  five [four] members who must be members the faculty or administration of a [an eligible] postsecondary educational institution that is an eligible institution for purposes of the Higher Education Act of 1965, as amended[, as defined by Section 57.46].

(2)  Strike SECTION 6 of the bill, amending Section 57.14, Education Code (page 5, lines 9 through 14), and substitute the following:

SECTION 6.  Section 57.14, Education Code, is amended to read as follows:

Sec. 57.14.  DIRECTORS' TERMS OF OFFICE. Members of the board [appointed by the governor] serve for terms of six years, with the terms of three or four members, as applicable, expiring on January 31 of each odd-numbered year.

(3)  Strike SECTION 24 of the bill (page 17, line 21 through page 18, line 8), and substitute the following:

SECTION 24.  Notwithstanding any other law, to comply with the requirements of Section 57.13, Education Code, as amended by this Act, and Section 30a, Article XVI, Texas Constitution, as soon as practicable on or after September 1, 2011, the governor shall appoint one additional member to the board of directors of the Texas Guaranteed Student Loan Corporation under Section 57.13(b)(3), Education Code, for a term to expire January 31, 2015.