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A BILL TO BE ENTITLED
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AN ACT
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relating to the dissolution of a non-profit direct-support |
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organization. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 54.633, Education Code, is amended by |
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adding Subsection (n) to read as follows: |
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(n) If the comptroller determines that the purpose of a |
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direct-support organization established under Subsection (e) has |
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been substantially complied with, the comptroller may dissolve the |
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organization. On dissolution, the title to all funds and |
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properties then owned by the organization shall transfer to the |
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Texas Match the Promise Foundation. |
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SECTION 2. This Act takes effect September 1, 2019. |