| 1 | 1 | | 82R7910 SLB-D |
|---|
| 2 | 2 | | By: Otto H.B. No. 1521 |
|---|
| 3 | 3 | | |
|---|
| 4 | 4 | | |
|---|
| 5 | 5 | | A BILL TO BE ENTITLED |
|---|
| 6 | 6 | | AN ACT |
|---|
| 7 | 7 | | relating to re-creating the scholarship trust fund for fifth-year |
|---|
| 8 | 8 | | accounting students as a trust fund outside the treasury. |
|---|
| 9 | 9 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|---|
| 10 | 10 | | SECTION 1. Section 901.155(a), Occupations Code, is amended |
|---|
| 11 | 11 | | to read as follows: |
|---|
| 12 | 12 | | (a) The fee for the issuance or renewal of a license under |
|---|
| 13 | 13 | | this chapter consists of: |
|---|
| 14 | 14 | | (1) [is] the amount of the fee set by the board under |
|---|
| 15 | 15 | | Section 901.154; |
|---|
| 16 | 16 | | (2) [together with] the fee increase imposed under |
|---|
| 17 | 17 | | Section 901.406; and |
|---|
| 18 | 18 | | (3) an additional $10 annual fee to be deposited to the |
|---|
| 19 | 19 | | credit of the scholarship trust fund for fifth-year accounting |
|---|
| 20 | 20 | | students. |
|---|
| 21 | 21 | | SECTION 2. Section 901.155(b), Occupations Code, as amended |
|---|
| 22 | 22 | | by Chapter 119 (H.B. 2440), Acts of the 81st Legislature, Regular |
|---|
| 23 | 23 | | Session, 2009, is reenacted to read as follows: |
|---|
| 24 | 24 | | (b) The scholarship trust fund for fifth-year accounting |
|---|
| 25 | 25 | | students is held by the board outside the state treasury and may be |
|---|
| 26 | 26 | | used only to: |
|---|
| 27 | 27 | | (1) provide scholarships under Subchapter N to |
|---|
| 28 | 28 | | accounting students in the fifth year of a program designed to |
|---|
| 29 | 29 | | qualify each student to apply for certification as a certified |
|---|
| 30 | 30 | | public accountant; and |
|---|
| 31 | 31 | | (2) pay administrative costs under Subsection (c). |
|---|
| 32 | 32 | | SECTION 3. Section 901.155(c), Occupations Code, is amended |
|---|
| 33 | 33 | | to read as follows: |
|---|
| 34 | 34 | | (c) The administrative costs incurred to collect the fee |
|---|
| 35 | 35 | | imposed under Subsection (a)(3) [(a)] and to disburse the money may |
|---|
| 36 | 36 | | not exceed 10 percent of the total money collected. |
|---|
| 37 | 37 | | SECTION 4. The scholarship trust fund for fifth-year |
|---|
| 38 | 38 | | accounting students is re-created by this Act as a trust fund held |
|---|
| 39 | 39 | | outside the state treasury by the Texas State Board of Public |
|---|
| 40 | 40 | | Accountancy. The revenue dedicated to the trust fund as provided by |
|---|
| 41 | 41 | | Chapter 119 (H.B. 2440), Acts of the 81st Legislature, Regular |
|---|
| 42 | 42 | | Session, 2009, is rededicated by this Act for the purposes |
|---|
| 43 | 43 | | specified by Subchapter N, Chapter 901, Occupations Code, as |
|---|
| 44 | 44 | | amended by that Act. |
|---|
| 45 | 45 | | SECTION 5. This Act takes effect immediately if it receives |
|---|
| 46 | 46 | | a vote of two-thirds of all the members elected to each house, as |
|---|
| 47 | 47 | | provided by Section 39, Article III, Texas Constitution. If this |
|---|
| 48 | 48 | | Act does not receive the vote necessary for immediate effect, this |
|---|
| 49 | 49 | | Act takes effect September 1, 2011. |
|---|