81R10235 YDB-F
By: Williams S.B. No. 1412
A BILL TO BE ENTITLED
AN ACT
relating to scholarships for fifth-year accounting students.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 901.155, Occupations Code, is amended to
read as follows:
Sec. 901.155. SCHOLARSHIP TRUST FUND ACCOUNT FOR FIFTH-YEAR
ACCOUNTING STUDENTS. (a) The fee for the issuance or renewal of a
license under this chapter is the amount of the fee set by the board
under Section 901.154 together with the fee increase imposed under
Section 901.406 and an additional $10 annual [$20] fee to be
deposited to the credit of the scholarship trust fund account for
fifth-year accounting students in the general revenue fund.
(b) The scholarship trust fund account for fifth-year
accounting students may be used only to:
(1) provide scholarships under Subchapter N[, Chapter
61, Education Code,] to accounting students in the fifth year of a
program designed to qualify each student to apply for certification
as a certified public accountant; and
(2) pay administrative costs under Subsection (c).
(c) The administrative costs incurred to collect the fee
imposed under Subsection (a) and to disburse the money may not
exceed 10 [15] percent of the total money collected[, with 10
percent of the money allocated to the Texas Higher Education
Coordinating Board and five percent of the money allocated to the
board].
(d) Notwithstanding Section 404.071, Government Code,
interest earned on amounts in the scholarship trust fund account
for fifth-year accounting students shall be credited to that
account.
SECTION 2. Subchapter N, Chapter 61, Education Code, is
transferred to Chapter 901, Occupations Code, designated as
Subchapter N, Chapter 901, Occupations Code, and amended to read as
follows:
SUBCHAPTER N. SCHOLARSHIPS FOR FIFTH-YEAR ACCOUNTING STUDENTS
Sec. 901.651 [61.751]. DEFINITION. In this subchapter,
"fifth-year accounting student" means a student enrolled in the
additional hours of study required by Section 901.254 [12(e)(2)(B),
Public Accountancy Act of 1991 (Article 41a-1, Vernon's Texas Civil
Statutes)].
Sec. 901.652 [61.752]. PUBLIC PURPOSE. The scholarships
required by this subchapter serve a public purpose of the state as
described by Section 901.155 [32, Public Accountancy Act of 1991
(Article 41a-1, Vernon's Texas Civil Statutes)].
Sec. 901.653 [61.753]. SCHOLARSHIPS. The board shall
establish and administer, using funds collected and appropriated
for that purpose and in accordance with this subchapter and board
rules, scholarships for fifth-year accounting students.
Sec. 901.654 [61.754]. FACTORS. (a) Scholarships shall be
established and administered in a manner that the board determines
best serves the public purpose of the scholarships.
(b) In determining what best promotes the public purpose,
the board shall consider at a minimum the following factors
relating to each person applying for a scholarship under this
section:
(1) financial need;
(2) ethnic or racial minority status; and
(3) scholastic ability and performance.
Sec. 901.655 [61.755]. RULES. (a) The board shall adopt
rules as necessary for the administration of this subchapter.
(b) The board shall adopt rules relating to the
establishment of the scholarships under Section 901.653 [61.753 of
this code], including rules providing eligibility criteria and the
determination of the amount of each scholarship.
Sec. 901.656 [61.756]. SCHOLARSHIP REGULATIONS. (a) The
board, in consultation with the advisory committee appointed under
Section 901.657 [61.757], shall determine the maximum amount of any
scholarship awarded under this subchapter. The scholarship may be
spent by the recipient on the expenses for tuition, fees, books,
supplies, and living expenses incurred by the student in connection
with the student's fifth year of an accounting program.
Scholarships shall be made available to eligible students
attending:
(1) any institution of higher education; or
(2) any nonprofit independent institution approved by
the Texas Higher Education Coordinating Board [board] under Section
61.222, Education Code.
(b) The board may award a scholarship under this subchapter
only to an eligible student who intends to take the written
examination conducted by the board [Texas State Board of Public
Accountancy] for the purpose of granting a certificate of
"certified public accountant." An applicant for a scholarship
under this subchapter shall state such an intent by filing a form
provided by the board stating an intent to take the examination.
(c) A scholarship under this subchapter shall be paid to the
recipient in the form of periodic partial payments throughout the
school year. The board by rule shall determine the manner in which
these payments are made.
Sec. 901.657 [61.757]. ADVISORY COMMITTEE. (a) The board
shall appoint an eight-member advisory committee to advise the
board concerning scholarships provided under this subchapter. The
advisory committee consists of:
(1) a presiding officer named by the board;
(2) one representative named by the board [Texas State
Board of Public Accountancy];
(3) one representative named by the Texas Society of
Certified Public Accountants;
(4) a Texas representative of the American Accounting
Association named by that organization;
(5) one representative named by the National
Association of Black Accountants;
(6) one representative named by the American
Association of Hispanic Certified Public Accountants; and
(7) two representatives named by the Texas Higher
Education Coordinating Board [board] who are the chairmen of
accounting departments at Texas colleges and universities, at least
one of whom must be a representative of a private college or
university and at least one other of whom must be a representative
from a college or university that primarily serves minority
students.
(b) The costs of participation on an advisory committee of a
member representing a particular organization or agency shall be
borne by that member of the organization or agency the member
represents.
(c) In addition to any other duties assigned by the board,
the advisory committee specifically shall advise the board on:
(1) how the scholarships provided for under this
subchapter should be established and administered to best promote
the public purpose of the scholarships;
(2) the amount of money needed to adequately fund the
scholarships and the maximum amount that may be awarded in any given
year to an individual student; and
(3) any priorities among the factors identified by
Section 901.654 [61.754].
Sec. 901.658 [61.758]. FUNDING. The board may:
(1) use, in accordance with Article 8930, Revised
Statutes, this subchapter, and Section 901.155 [32, Public
Accountancy Act of 1991 (Article 41a-1, Vernon's Texas Civil
Statutes)], any money appropriated to it from the trust fund
established under Section 901.155 [by that section]; and
(2) accept gifts, grants, and donations of real or
personal property from any entity, subject to limitations or
conditions set by law, for the purposes of this subchapter.
Sec. 901.659 [61.760]. MINORITY AND DISADVANTAGED STUDENT
INTERNSHIPS. (a) The board shall adopt rules to encourage
internships for minority and disadvantaged students and certified
public accountant examination candidates who notify the board not
later than 90 days after the date of being accepted into an
accounting internship program.
(b) The rules adopted by the board shall include standards
for appropriate recognition of an accounting firm for its efforts
in training and hiring minority or disadvantaged students.
SECTION 3. Section 61.081, Education Code, is transferred
to Subchapter N, Chapter 901, Occupations Code, as added by this
Act, redesignated as Section 901.660, Occupations Code, and amended
to read as follows:
Sec. 901.660 [61.081]. REPORT ON ACCOUNTANT SCHOLARSHIP
PROGRAM. (a) Before January 15 of each odd-numbered year, the
board shall report to the legislature concerning the scholarship
program for fifth-year accounting students administered by the
board under [Subchapter N, Chapter 61, of] this subchapter [code].
(b) The report expenses shall be included in the
administrative costs allocated to the board under Section 901.155
[32(e) of this code]. The report must include:
(1) the number and amount of scholarships awarded in
the two calendar years preceding the year in which the report is
due; and
(2) the number of minority students, by racial or
ethnic background, who have been awarded scholarships under the
program in that two-year period.
SECTION 4. (a) Not later than January 1, 2010, the Texas
State Board of Public Accountancy shall adopt the rules required to
implement Subchapter N, Chapter 901, Occupations Code, as added by
this Act.
(b) On the effective date of this Act, the Texas Higher
Education Coordinating Board shall transfer to the Texas State
Board of Public Accountancy for deposit in the scholarship trust
fund account established under Subchapter N, Chapter 901,
Occupations Code, as added by this Act, any money appropriated to
the Texas Higher Education Coordinating Board for scholarships to
fifth-year accounting students under Subchapter N, Chapter 61,
Education Code, as that subchapter existed before the effective
date of this Act, that has not been awarded to students under that
scholarship program.
SECTION 5. This Act takes effect September 1, 2009.