By: Y. Davis of Dallas H.B. No. 4279
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  Relating to the urban scholarship; enforcement and authorizing
  penalties.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Section 74.3012, Property Code, is amending by
  amending Subsections (a) and (b) and adding Subsection (h) to read
  as follows:
         (a)  Notwithstanding and in addition to any other provision
  of this chapter or other law, a local exchange company shall [may]
  deliver reported money to a scholarship fund for urban students
  instead of delivering the money to the comptroller as prescribed by
  Section 74.301.
         (b)  A local exchange company shall [may] deliver the money
  under this section only to a scholarship fund established by one or
  more local exchange companies in this state to enable needy
  students from urban areas to attend college, technical school, or
  another postsecondary educational institution.
         (c)  A local exchange company shall file with the comptroller
  a verification of money delivered under this section that complies
  with Section 74.302.
         (h)  A local exchange company is subject to Subchapter H for
  failure to comply with this Section.
         SECTION 2.  Section 74.706, Property Code, is amended to
  read as follows:
         (a)  A penalty equal to five percent of the value of the
  property due shall be imposed on a holder who fails to pay or
  deliver property within the time prescribed by this chapter. If a
  holder fails to pay or deliver property before the 31st day after
  the date the property is due, an additional penalty equal to five
  percent of the value of the property due shall be imposed.
         (b) A penalty equal to ten percent of the property due per day
  shall be imposed on a holder who fails to pay or deliver property
  under Section 74.3012 within the time prescribed by this Chapter.
         (c)[(b)]  For purposes of Subsections (a) and (b)
  [Subsection (a)], "holder" does not include a local governmental
  entity or an officer or employee of a local governmental entity who
  is performing the officer's or employee's official duties for the
  local governmental entity.
         SECTION 3.  This Act takes effect immediately if it receives
  a vote of two-thirds of all members elected to each house, as
  provided by Section 39, Article III, Texas Constitution. If this
  Act does not receive the vote necessary for immediate effect, this
  Act takes effect September 1, 2025.