LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 81ST LEGISLATIVE REGULAR SESSION April 15, 2009 TO: Honorable Judith Zaffirini, Chair, Senate Committee on Higher Education FROM: John S. O'Brien, Director, Legislative Budget Board IN RE:SB1760 by Watson (relating to the administration of the Texas Save and Match Program to assist qualifying beneficiaries under the state's prepaid tuition plans and college savings plans and to the treatment of a beneficiary's assets under prepaid tuition plans and college savings plans in determining eligibility for student financial assistance and other assistance programs.), Committee Report 1st House, Substituted No significant fiscal implication to the State is anticipated. The bill would amend the Education, Health and Safety, and Human Resources Codes, relating to student financial assistance and other programs, and require the Texas Prepaid Higher Education Tuition Board to develop a formula to match purchases based upon a beneficiaries' annual household income. The bill would limit who would be eligible to participate in the new program. The Board would be allowed to establish pilot projects under the program in an effort to increase participation in the plan.The Comptrollers office indicates that the bill would have no fiscal impact provided that external funding was procured to provide payment for tuition units awarded under the provisions of the bill, so that there would be no negative impact on the actuarial soundness of the Texas Tomorrow Fund II Prepaid Tuition Unit Undergraduate Education Program Fund, also known as the Texas Tuition Promise Fund. The Comptrollers office also indicated that there would be no significant administrative costs to the agency. Local Government Impact No fiscal implication to units of local government is anticipated. Source Agencies:304 Comptroller of Public Accounts LBB Staff: JOB, KK, JM
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 81ST LEGISLATIVE REGULAR SESSION
April 15, 2009
TO: Honorable Judith Zaffirini, Chair, Senate Committee on Higher Education FROM: John S. O'Brien, Director, Legislative Budget Board IN RE:SB1760 by Watson (relating to the administration of the Texas Save and Match Program to assist qualifying beneficiaries under the state's prepaid tuition plans and college savings plans and to the treatment of a beneficiary's assets under prepaid tuition plans and college savings plans in determining eligibility for student financial assistance and other assistance programs.), Committee Report 1st House, Substituted
TO: Honorable Judith Zaffirini, Chair, Senate Committee on Higher Education
FROM: John S. O'Brien, Director, Legislative Budget Board
IN RE: SB1760 by Watson (relating to the administration of the Texas Save and Match Program to assist qualifying beneficiaries under the state's prepaid tuition plans and college savings plans and to the treatment of a beneficiary's assets under prepaid tuition plans and college savings plans in determining eligibility for student financial assistance and other assistance programs.), Committee Report 1st House, Substituted
Honorable Judith Zaffirini, Chair, Senate Committee on Higher Education
Honorable Judith Zaffirini, Chair, Senate Committee on Higher Education
John S. O'Brien, Director, Legislative Budget Board
John S. O'Brien, Director, Legislative Budget Board
SB1760 by Watson (relating to the administration of the Texas Save and Match Program to assist qualifying beneficiaries under the state's prepaid tuition plans and college savings plans and to the treatment of a beneficiary's assets under prepaid tuition plans and college savings plans in determining eligibility for student financial assistance and other assistance programs.), Committee Report 1st House, Substituted
SB1760 by Watson (relating to the administration of the Texas Save and Match Program to assist qualifying beneficiaries under the state's prepaid tuition plans and college savings plans and to the treatment of a beneficiary's assets under prepaid tuition plans and college savings plans in determining eligibility for student financial assistance and other assistance programs.), Committee Report 1st House, Substituted
No significant fiscal implication to the State is anticipated.
No significant fiscal implication to the State is anticipated.
The bill would amend the Education, Health and Safety, and Human Resources Codes, relating to student financial assistance and other programs, and require the Texas Prepaid Higher Education Tuition Board to develop a formula to match purchases based upon a beneficiaries' annual household income. The bill would limit who would be eligible to participate in the new program. The Board would be allowed to establish pilot projects under the program in an effort to increase participation in the plan.The Comptrollers office indicates that the bill would have no fiscal impact provided that external funding was procured to provide payment for tuition units awarded under the provisions of the bill, so that there would be no negative impact on the actuarial soundness of the Texas Tomorrow Fund II Prepaid Tuition Unit Undergraduate Education Program Fund, also known as the Texas Tuition Promise Fund. The Comptrollers office also indicated that there would be no significant administrative costs to the agency.
The bill would amend the Education, Health and Safety, and Human Resources Codes, relating to student financial assistance and other programs, and require the Texas Prepaid Higher Education Tuition Board to develop a formula to match purchases based upon a beneficiaries' annual household income.
The bill would limit who would be eligible to participate in the new program. The Board would be allowed to establish pilot projects under the program in an effort to increase participation in the plan.The Comptrollers office indicates that the bill would have no fiscal impact provided that external funding was procured to provide payment for tuition units awarded under the provisions of the bill, so that there would be no negative impact on the actuarial soundness of the Texas Tomorrow Fund II Prepaid Tuition Unit Undergraduate Education Program Fund, also known as the Texas Tuition Promise Fund. The Comptrollers office also indicated that there would be no significant administrative costs to the agency.
Local Government Impact
No fiscal implication to units of local government is anticipated.
Source Agencies: 304 Comptroller of Public Accounts
304 Comptroller of Public Accounts
LBB Staff: JOB, KK, JM
JOB, KK, JM