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A BILL TO BE ENTITLED
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AN ACT
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relating to the tuition set aside requirement for the B-On-Time |
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program. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Sec. 56.465, Subchapter Q, Chapter 56, Education |
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Code, is amended to read as follows: |
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(a) The governing board of each institution of higher |
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education shall cause to be set aside five percent of the amount of |
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the tuition charged to a resident undergraduate student at the |
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institution under Section 54.0513 in excess of $46 per semester |
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credit hour. The amount of a student's tuition set aside under this |
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subsection is considered a part of the amount required to be set |
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aside from that tuition under Section 56.011. |
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(b) The amount of tuition set aside under Subsection (a) |
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shall be deposited to the credit of the Texas B-On-time student loan |
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account established under Section 56.463 or to the interest and |
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sinking fund established by the coordinating board under Section |
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52.91(b) in accordance with the resolution of the board |
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establishing such fund. held in reserve at the institution the |
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student attends and distributed to students at that institution in |
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accordance with this subchapter. |
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SECTION 2. 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. |