BILL ANALYSIS

S.B. 499

By: Seliger

Higher Education

Committee Report (Unamended)

BACKGROUND AND PURPOSE

It has been noted that a statutory requirement for a public institution of higher education annually to provide each student receiving certain state financial aid with certain education loan information could be burdensome and costly to those institutions if the requirement is interpreted to include the provision of information regarding a student's private loans. S.B. 499 seeks to clarify this issue by specifying that information on private entity loans is not required in the loan information disclosure.

CRIMINAL JUSTICE IMPACT

It is the committee's opinion that this bill does not expressly create a criminal offense, increase the punishment for an existing criminal offense or category of offenses, or change the eligibility of a person for community supervision, parole, or mandatory supervision.

RULEMAKING AUTHORITY

It is the committee's opinion that this bill does not expressly grant any additional rulemaking authority to a state officer, department, agency, or institution.

ANALYSIS

S.B. 499 amends the Education Code to prohibit statutory provisions relating to required student loan debt disclosure under the student loan program administered by the Texas Higher Education Coordinating Board from being construed to require a participating higher educational institution to provide in the required disclosure information regarding loans issued by a private entity.

EFFECTIVE DATE

September 1, 2019.