AUTHOR'S / SPONSOR'S STATEMENT OF INTENT

 

Currently, funds are dedicated to nursing education from the Permanent Fund for Higher Education Nursing, Allied Health, and Other Health-Related Programs.  This fund is one of the trust funds established by the Texas tobacco settlement.  The dedication of these funds is set to expire on August 31, 2015.  This legislation extends the dedication of funds until August 31, 2019. 

 

As proposed, S.B. 448 amends current law relating to the use of money from the permanent fund for health-related programs to provide grants to nursing education programs.

 

RULEMAKING AUTHORITY

 

This bill does not expressly grant any additional rulemaking authority to a state officer, institution, or agency.

 

SECTION BY SECTION ANALYSIS

 

SECTION 1. Amends Sections 63.202(f) and (g), Education Code, as follows:

 

(f) Requires that the grants awarded under Subsection (c) (authorizing the Texas Higher Education Coordinating Board to use investment returns of funds) for the state fiscal biennium ending on August 31, 2017, rather than August 31, 2013, and the fiscal biennium ending on August 31, 2019, rather than August 31, 2015, by the Texas Higher Education Coordinating Board (THECB), notwithstanding the limitation provided by Subsection (b) (prohibiting money in the fund established under this subchapter from being used for any purpose), be awarded to certain programs. Makes no further changes to this subsection.

 

(g) Provides that Subsection (f) and this subsection expire September 1, 2019, rather than September 1, 2015.

 

SECTION 2. Effective date: upon passage or September 1, 2015.