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A BILL TO BE ENTITLED
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AN ACT
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relating to the abolition of the B-On-time student loan account and |
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the allocation of funds remaining in that account. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Sections 56.0092(d), (e), and (f), Education |
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Code, are amended to read as follows: |
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(d) On September 1, 2021 [2020], the Texas B-On-time student |
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loan account is abolished, and any remaining money in the account, |
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notwithstanding Subsection (b), may be appropriated only to |
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eligible institutions in the manner provided by Subsection (e). |
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(e) An appropriation under Subsection (d) must be made in |
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accordance with a performance-based methodology [formula], adopted |
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by coordinating board rule, that [the coordinating board determines
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fairly] allocates the appropriated amount to [those] eligible |
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institutions based on the average number of bachelor's degrees |
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awarded by each institution to at-risk students in the three most |
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recent academic years for which that information is available [at
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which the Texas B-On-time student loan program was underutilized.
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For purposes of this subsection, the Texas B-On-time student loan
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program is considered to have been underutilized by students of an
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institution in any period if the institution's percentage of the
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total amount of tuition set aside by all institutions under the
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program during the period was greater than the institution's
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percentage of all students who received a Texas B-On-time student
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loan under the program for the same period.
The coordinating board
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shall base the coordinating board's determination on a period of
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academic years occurring before the 2015-2016 academic year that
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the coordinating board considers representative of eligible
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institutions' student participation in the Texas B-On-time student
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loan program]. |
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(f) In this section: |
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(1) "At-risk student" means an undergraduate student |
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of an eligible institution: |
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(A) who has previously received a grant under the |
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federal Pell Grant program or met the Expected Family Contribution |
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(EFC) criterion for a grant under that program; or |
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(B) whose total score on the SAT or the ACT, |
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excluding the optional essay test, is less than the national mean of |
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students' scores on the applicable test. |
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(2) "Eligible[, "eligible] institution" means a |
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general academic teaching institution described by Section |
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56.451(2)(A) or a medical and dental unit described by Section |
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56.451(2)(B), as those paragraphs existed immediately before |
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September 1, 2015. |
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SECTION 2. This Act takes effect immediately if it receives |
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a vote of two-thirds of all the members elected to each house, as |
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provided by Section 39, Article III, Texas Constitution. If this |
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Act does not receive the vote necessary for immediate effect, this |
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Act takes effect September 1, 2019. |
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* * * * * |