By: Villarreal H.B. No. 3507
A BILL TO BE ENTITLED
AN ACT
relating to the tuition set aside requirement for the B-On-Time
program.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Sec. 56.465, Subchapter Q, Chapter 56, Education
Code, is amended to read as follows:
(a) The governing board of each institution of higher
education shall cause to be set aside five percent of the amount of
the tuition charged to a resident undergraduate student at the
institution under Section 54.0513 in excess of $46 per semester
credit hour. The amount of a student's tuition set aside under this
subsection is considered a part of the amount required to be set
aside from that tuition under Section 56.011.
(b) The amount of tuition set aside under Subsection (a)
shall be deposited to the credit of the Texas B-On-time student loan
account established under Section 56.463 or to the interest and
sinking fund established by the coordinating board under Section
52.91(b) in accordance with the resolution of the board
establishing such fund. held in reserve at the institution the
student attends and distributed to students at that institution in
accordance with this subchapter.
SECTION 2. This Act takes effect immediately if it receives
a vote of two-thirds of all the 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, 2011.