| |
| |
|
|
A BILL TO BE ENTITLED
|
|
|
AN ACT
|
|
|
relating to the repeal of the Texas B-On-time student loan program. |
|
|
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|
|
SECTION 1. Section 52.89(c), Education Code, is amended to |
|
|
read as follows: |
|
|
(c) The board shall deposit to the credit of the fund any |
|
|
proceeds from the sale of bonds, excluding: |
|
|
(1) any accrued interest on the bonds which shall be |
|
|
deposited in the board interest and sinking fund relating to the |
|
|
bonds; and |
|
|
(2) proceeds from the sale of bonds issued by the board |
|
|
under Section 56.464(b), as that subsection existed immediately |
|
|
before September 1, 2013 [to provide Texas B-On-time student
|
|
|
loans]. |
|
|
SECTION 2. Sections 52.90(a) and (b), Education Code, are |
|
|
amended to read as follows: |
|
|
(a) The board[:
|
|
|
[(1)] shall make a loan from the fund to a student who |
|
|
qualifies for a loan under Subchapter C[; and
|
|
|
[(2)
may make a loan from the fund to a student who
|
|
|
qualifies for a Texas B-On-time student loan under Subchapter Q,
|
|
|
Chapter 56]. |
|
|
(b) Loans from the fund are governed by Subchapter C [of
|
|
|
this chapter or Subchapter Q, Chapter 56, as appropriate, as if made
|
|
|
under that subchapter, except to the extent of conflict with this
|
|
|
subchapter]. |
|
|
SECTION 3. The heading to Section 52.91, Education Code, is |
|
|
amended to read as follows: |
|
|
Sec. 52.91. BONDS FOR FORMER TEXAS B-ON-TIME STUDENT LOAN |
|
|
PROGRAM. |
|
|
SECTION 4. Sections 52.91(a) and (c), Education Code, are |
|
|
amended to read as follows: |
|
|
(a) The board shall deposit to the credit of the Texas |
|
|
B-On-time student loan account established under Section 56.009 |
|
|
[56.463] any proceeds from the sale of bonds issued by the board to |
|
|
fund Texas B-On-time student loans under Section 56.464(b), as that |
|
|
subsection existed immediately before September 1, 2013, other |
|
|
than[:
|
|
|
[(1)] accrued interest on the bonds, which shall be |
|
|
deposited to the credit of the interest and sinking fund related to |
|
|
the bonds[; and
|
|
|
[(2)
any proceeds from the sale of the bonds that the
|
|
|
board by resolution deposits to the student loan auxiliary fund
|
|
|
under Section 52.89(c-1)]. |
|
|
(c) The board shall repay bonds described by Subsection (a) |
|
|
[issued by the board to fund the Texas B-On-time student loan
|
|
|
program] using proceeds from the bonds, legislative |
|
|
appropriations, and money collected by the board as repayment for |
|
|
Texas B-On-time student loans awarded by the board for a semester or |
|
|
term occurring before the 2014 fall semester. The board may also |
|
|
repay the bonds by using [use] tuition set aside under Section |
|
|
56.465, as that section existed immediately before September 1, |
|
|
2013, for a semester or term occurring before the 2013 fall semester |
|
|
[to repay bonds issued by the board for the Texas B-On-time student
|
|
|
loan program]. The board may not repay the bonds with [use] money |
|
|
collected by the board as repayment for student loans awarded by the |
|
|
board under Subchapter C [to repay bonds issued by the board for the
|
|
|
Texas B-On-time student loan program under Section 56.464(b)]. |
|
|
SECTION 5. Section 54.0065(a), Education Code, is amended |
|
|
to read as follows: |
|
|
(a) A qualified student is eligible for a rebate of a |
|
|
portion of the undergraduate tuition the student has paid if the |
|
|
student: |
|
|
(1) is awarded a baccalaureate degree from a general |
|
|
academic teaching institution within: |
|
|
(A) four calendar years after the date the |
|
|
student initially enrolled in the institution or another |
|
|
postsecondary educational institution if: |
|
|
(i) the institution is a four-year |
|
|
institution; and |
|
|
(ii) the student is awarded a degree other |
|
|
than a degree in engineering, architecture, or any other program |
|
|
determined by the coordinating board to require more than four |
|
|
years to complete; or |
|
|
(B) five calendar years after the date the |
|
|
student initially enrolled in the institution or another |
|
|
postsecondary educational institution if: |
|
|
(i) the institution is a four-year |
|
|
institution; and |
|
|
(ii) the student is awarded a degree in |
|
|
engineering, architecture, or any other program determined by the |
|
|
coordinating board to require more than four years to complete [the
|
|
|
period prescribed by Section 56.462(1)(A) or (B), as applicable, to
|
|
|
qualify for forgiveness of a Texas B-On-time loan]; and |
|
|
(2) has attempted no more than three hours in excess of |
|
|
the minimum number of semester credit hours required to complete |
|
|
the degree program: |
|
|
(A) including: |
|
|
(i) transfer credits; and |
|
|
(ii) course credit earned exclusively by |
|
|
examination, except that, for purposes of this subsection, only the |
|
|
number of semester credit hours earned exclusively by examination |
|
|
in excess of nine semester credit hours is treated as hours |
|
|
attempted; and |
|
|
(B) excluding: |
|
|
(i) course credit that is earned to satisfy |
|
|
requirements for a Reserve Officers' Training Corps (ROTC) program |
|
|
but that is not required to complete the degree program; and |
|
|
(ii) course credit, other than course |
|
|
credit earned exclusively by examination, that is earned before |
|
|
graduating from high school. |
|
|
SECTION 6. Subchapter A, Chapter 56, Education Code, is |
|
|
amended by adding Section 56.009 to read as follows: |
|
|
Sec. 56.009. TEXAS B-ON-TIME STUDENT LOAN ACCOUNT; FORMER |
|
|
LOAN PROGRAM CONTINUED IN EFFECT FOR 2013-2014 ACADEMIC YEAR ONLY. |
|
|
(a) The Texas B-On-time student loan account is an account in the |
|
|
general revenue fund. The account consists of: |
|
|
(1) gifts and grants; |
|
|
(2) legislative appropriations received for the |
|
|
purpose of awarding Texas B-On-time student loans for the 2013-2014 |
|
|
academic year and for discharging any remaining obligations under |
|
|
the former Texas B-On-time student loan program; |
|
|
(3) tuition set aside under Section 56.465, as that |
|
|
section existed immediately before September 1, 2013, for a |
|
|
semester or term occurring before the 2013 fall semester; |
|
|
(4) bond proceeds deposited under Section 52.91(a); |
|
|
and |
|
|
(5) any other money in the account on September 1, |
|
|
2013. |
|
|
(b) Money in the Texas B-On-time student loan account may be |
|
|
used only to pay any costs of the coordinating board related to |
|
|
loans awarded under the Texas B-On-time loan program before the |
|
|
2014-2015 academic year. |
|
|
(c) The coordinating board may not award a Texas B-On-time |
|
|
student loan to an eligible student after the 2013-2014 academic |
|
|
year. For Texas B-On-time student loans awarded for the 2013-2014 |
|
|
academic year: |
|
|
(1) students may qualify and establish eligibility |
|
|
under Subchapter Q as it existed immediately before September 1, |
|
|
2013; and |
|
|
(2) the coordinating board may make loans using any |
|
|
money available for the purposes of the former Texas B-On-time |
|
|
student loan program. |
|
|
SECTION 7. The following provisions of the Education Code |
|
|
are repealed: |
|
|
(1) Sections 52.89(c-1) and 52.91(b); |
|
|
(2) Section 56.307(l); and |
|
|
(3) Subchapter Q, Chapter 56. |
|
|
SECTION 8. Notwithstanding any other law, Subchapter Q, |
|
|
Chapter 56, Education Code, as that subchapter existed immediately |
|
|
before the effective date of this Act, is continued in effect solely |
|
|
for the purposes of: |
|
|
(1) awarding Texas B-On-time student loans for the |
|
|
2013-2014 academic year; and |
|
|
(2) discharging any remaining obligations under the |
|
|
former Texas B-On-time student loan program. |
|
|
SECTION 9. This Act takes effect September 1, 2013. |