Amend SB 2 (senate committee printing) as follows:
(1) In SECTION 4 of the bill, strike added Section 230.001(1), Insurance Code (page 3, lines 44-61) and substitute the following:
(1) "Educational assistance organization" means an organization that:
(A) has the ability according to the organization's charter to pay educational expenses for eligible students in public elementary or secondary schools located in this state; and
(B) uses part of its annual revenue for the purpose provided by Paragraph (A).
(2) In SECTION 4 of the bill, in the heading to added Subchapter B, Chapter 230, Insurance Code (page 4, line 11), strike "SCHOLARSHIP AND".
(3) In SECTION 4 of the bill, strike added Section 230.051(b), Insurance Code (page 4, line 18, through page 5, line 11), and substitute the following:
(b) To be eligible for certification, the organization:
(1) must:
(A) be exempt from federal tax under Section 501(a) of the Internal Revenue Code of 1986 by being listed as an exempt organization in Section 501(c)(3) of that code;
(B) be in good standing with the state;
(C) be located in the state;
(D) allocate at least 90 percent of its annual revenue from contributions that are designated for educational expense assistance for eligible students under this chapter for assistance for educational expenses, including tuition, transportation, instructional materials, and other supplies, and for other related educational expense assistance as described by this section;
(E) award assistance for qualifying educational expenses to eligible students who demonstrate the greatest financial and academic need;
(F) agree to give each donor a receipt for money contributed to the organization that includes the name of the organization, the name of the donor, the amount of the contribution, the information required by Section 230.054(c), and any other information required by the comptroller;
(G) demonstrate experience and technical expertise in accepting, processing, and tracking applications for educational expense assistance;
(H) agree to be independently audited on an annual basis and file the audit with the comptroller; and
(I) disburse within two academic years of receipt contributions received from and designated by entities for educational expense assistance under this chapter; and
(2) may not:
(A) pay educational expenses incurred only at a particular school; and
(B) provide to a student educational expense assistance in excess of the amount provided under Section 230.055, unless the money used to provide the portion of the assistance in excess of that amount was contributed by a person other than an entity that notifies the organization under Section 230.054(c) that the entity may apply for a tax credit for the contribution, including assistance for:
(i) facility fees;
(ii) instructional materials;
(iii) school supplies;
(iv) tutoring;
(v) academic after-school programs;
(vi) school or lab fees;
(vii) before-school or after-school child care; and
(viii) transportation expenses, including the cost to transfer from one public school to another.
(4) In SECTION 4 of the bill, strike added Sections 230.0512, 230.052, and 230.053, Insurance Code (page 5, line 54, through page 6, line 54).
(5) In SECTION 4 of the bill, strike added Section 230.0532, Insurance Code (page 7, lines 4-30).
(6) In SECTION 4 of the bill, in added Section 230.054(a), Insurance Code (page 7, line 34), strike "scholarships or".
(7) In SECTION 4 of the bill, in added Section 230.054(b)(2), Insurance Code (page 7, lines 41 and 42), strike "a scholarship or".
(8) In SECTION 4 of the bill, strike added Section 230.055, Insurance Code (page 7, lines 53-69), and substitute the following:
Sec. 230.055. LIMIT ON AMOUNT OF EDUCATIONAL EXPENSE ASSISTANCE. The maximum educational expense assistance the certified educational assistance organization may award to a student under this chapter using money contributed by an entity that notifies the organization under Section 230.054(c) that the entity may apply for a tax credit for the contribution may not exceed $500 for the 2019 state fiscal year, increased by five percent each subsequent year.
(9) In SECTION 4 of the bill, strike added Section 230.057, Insurance Code (page 8, lines 36-49).
(10) Strike SECTION 7 of the bill (page 10, lines 59-63) and renumber the SECTIONS of the bill accordingly.