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A BILL TO BE ENTITLED
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AN ACT
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relating to re-creating the scholarship trust fund for fifth-year |
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accounting students as a trust fund outside the treasury. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 901.155(a), Occupations Code, is amended |
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to read as follows: |
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(a) The fee for the issuance or renewal of a license under |
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this chapter consists of: |
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(1) [is] the amount of the fee set by the board under |
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Section 901.154; |
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(2) [together with] the fee increase imposed under |
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Section 901.406; and |
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(3) an additional $10 annual fee to be deposited to the |
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credit of the scholarship trust fund for fifth-year accounting |
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students. |
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SECTION 2. Section 901.155(b), Occupations Code, as amended |
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by Chapter 119 (H.B. 2440), Acts of the 81st Legislature, Regular |
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Session, 2009, is reenacted to read as follows: |
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(b) The scholarship trust fund for fifth-year accounting |
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students is held by the board outside the state treasury and may be |
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used only to: |
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(1) provide scholarships under Subchapter N to |
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accounting students in the fifth year of a program designed to |
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qualify each student to apply for certification as a certified |
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public accountant; and |
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(2) pay administrative costs under Subsection (c). |
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SECTION 3. Section 901.155(c), Occupations Code, is amended |
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to read as follows: |
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(c) The administrative costs incurred to collect the fee |
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imposed under Subsection (a)(3) [(a)] and to disburse the money may |
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not exceed 10 percent of the total money collected. |
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SECTION 4. The scholarship trust fund for fifth-year |
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accounting students is re-created by this Act as a trust fund held |
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outside the state treasury by the Texas State Board of Public |
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Accountancy. The revenue dedicated to the trust fund as provided by |
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Chapter 119 (H.B. 2440), Acts of the 81st Legislature, Regular |
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Session, 2009, is rededicated by this Act for the purposes |
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specified by Subchapter N, Chapter 901, Occupations Code, as |
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amended by that Act. |
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SECTION 5. This Act takes effect immediately if it receives |
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a vote of two-thirds of all the members elected to each house, as |
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provided by Section 39, Article III, Texas Constitution. If this |
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Act does not receive the vote necessary for immediate effect, this |
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Act takes effect September 1, 2011. |