| |
| |
|
|
A BILL TO BE ENTITLED
|
|
|
AN ACT
|
|
|
relating to the dissolution of a direct-support organization |
|
|
established by the Prepaid Higher Education Tuition Board and the |
|
|
transfer of funds related to prepaid higher education tuition |
|
|
scholarships to the Texas Save and Match Program. |
|
|
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|
|
SECTION 1. Section 54.633, Education Code, is amended by |
|
|
adding Subsection (n) to read as follows: |
|
|
(n) The board shall dissolve a direct-support organization |
|
|
established under Subsection (e) if the comptroller determines that |
|
|
the purpose of the organization has been substantially complied |
|
|
with and orders the dissolution. On dissolution of the |
|
|
organization, the board shall transfer all funds and property held |
|
|
by the organization to the fund established under Section 54.808. |
|
|
SECTION 2. This Act takes effect September 1, 2019. |