Amend CSSB 215 (senate committee printing) in SECTION 23 of the bill by striking added Section 61.07761, Education Code (page 9, lines 27 through 36), and substituting the following:
Sec. 61.07761. FINANCIAL AID AND OTHER TRUSTEED FUNDS ALLOCATION. (a) For any funds trusteed to the board for allocation to institutions of higher education and private or independent institutions of higher education, including financial aid program funds, the board by rule shall:
(1) establish and publish the allocation methodologies; and
(2) develop procedures to verify the accuracy of the application of those allocation methodologies by board staff.
(b) The board shall engage in negotiated rulemaking as described by Chapter 2008, Government Code, in adopting rules under this section.