| |
| |
|
|
A BILL TO BE ENTITLED
|
|
|
AN ACT
|
|
|
relating to authorizing the Texas Higher Education Coordinating |
|
|
Board to award grants to public institutions of higher education |
|
|
for alternative student financial assistance plans. |
|
|
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|
|
SECTION 1. Subchapter C, Chapter 61, Education Code, is |
|
|
amended by adding Section 61.07763 to read as follows: |
|
|
Sec. 61.07763. GRANTS FOR ALTERNATIVE FINANCIAL AID PLANS. |
|
|
(a) Using funds described by Subsection (d), the board shall award |
|
|
grants to eligible institutions of higher education for the |
|
|
provision of student financial assistance in accordance with this |
|
|
section. |
|
|
(b) The board shall develop a competitive application |
|
|
process to award grants to eligible institutions of higher |
|
|
education under this section. In awarding grants, the board shall |
|
|
consider the potential of proposals to use financial aid funds to |
|
|
effectively achieve desired purposes and outcomes identified by the |
|
|
board or targeted by a proposal. The board shall make a reasonable |
|
|
effort to ensure that the selected institutions are geographically |
|
|
diverse and serve students that represent the demographic diversity |
|
|
of this state. |
|
|
(c) To be eligible to receive a grant under this section, an |
|
|
institution of higher education must adopt a plan to provide |
|
|
financial assistance to students enrolled at the institution using |
|
|
the grant funds. The plan must: |
|
|
(1) provide that only students who meet the financial |
|
|
need requirements as defined by the board are eligible to receive |
|
|
financial assistance; and |
|
|
(2) require a student receiving financial assistance |
|
|
to use the funds only for costs associated with attending the |
|
|
institution, as identified by the institution. |
|
|
(d) The board may use a portion, not to exceed three |
|
|
percent, of the funds appropriated for the TEXAS grant program |
|
|
under Subchapter M, Chapter 56, and a portion, not to exceed three |
|
|
percent, of the funds appropriated for the Texas Educational |
|
|
Opportunity Grant Program under Subchapter P, Chapter 56, for |
|
|
purposes of this section. |
|
|
(e) The board shall include in its annual report to the |
|
|
legislature on financial aid in this state a report on the |
|
|
effectiveness of the student financial assistance plans funded by |
|
|
grants awarded under this section and any recommendations for |
|
|
legislative or other action. |
|
|
(f) The board may adopt rules as necessary to implement this |
|
|
section. |
|
|
SECTION 2. The Texas Higher Education Coordinating Board |
|
|
shall award grants under Section 61.07763, Education Code, as added |
|
|
by this Act, beginning with the 2023-2024 academic year. |
|
|
SECTION 3. The Texas Higher Education Coordinating Board |
|
|
shall include the board's initial report required under Section |
|
|
61.07763(e), Education Code, as added by this Act, in the board's |
|
|
annual report to the legislature on financial aid in this state |
|
|
awarded during the 2023-2024 academic year. |
|
|
SECTION 4. This Act takes effect September 1, 2021. |