| 1 | 1 | | By: Williams S.B. No. 777 |
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| 2 | 2 | | (Otto) |
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| 3 | 3 | | |
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| 4 | 4 | | |
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| 5 | 5 | | A BILL TO BE ENTITLED |
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| 6 | 6 | | AN ACT |
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| 7 | 7 | | relating to re-creating the scholarship trust fund for fifth-year |
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| 8 | 8 | | accounting students as a trust fund outside the state treasury. |
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| 9 | 9 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 10 | 10 | | SECTION 1. Subsection (a), Section 901.155, Occupations |
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| 11 | 11 | | Code, is amended to read as follows: |
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| 12 | 12 | | (a) The fee for the issuance or renewal of a license under |
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| 13 | 13 | | this chapter consists of: |
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| 14 | 14 | | (1) [is] the amount of the fee set by the board under |
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| 15 | 15 | | Section 901.154; |
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| 16 | 16 | | (2) [together with] the fee increase imposed under |
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| 17 | 17 | | Section 901.406; and |
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| 18 | 18 | | (3) an additional $10 annual fee to be deposited to the |
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| 19 | 19 | | credit of the scholarship trust fund for fifth-year accounting |
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| 20 | 20 | | students. |
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| 21 | 21 | | SECTION 2. Subsection (b), Section 901.155, Occupations |
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| 22 | 22 | | Code, as amended by Chapter 119 (H.B. 2440), Acts of the 81st |
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| 23 | 23 | | Legislature, Regular Session, 2009, is reenacted to read as |
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| 24 | 24 | | follows: |
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| 25 | 25 | | (b) The scholarship trust fund for fifth-year accounting |
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| 26 | 26 | | students is held by the board outside the state treasury and may be |
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| 27 | 27 | | used only to: |
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| 28 | 28 | | (1) provide scholarships under Subchapter N to |
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| 29 | 29 | | accounting students in the fifth year of a program designed to |
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| 30 | 30 | | qualify each student to apply for certification as a certified |
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| 31 | 31 | | public accountant; and |
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| 32 | 32 | | (2) pay administrative costs under Subsection (c). |
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| 33 | 33 | | SECTION 3. Subsection (c), Section 901.155, Occupations |
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| 34 | 34 | | Code, is amended to read as follows: |
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| 35 | 35 | | (c) The administrative costs incurred to collect the fee |
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| 36 | 36 | | imposed under Subsection (a)(3) [(a)] and to disburse the money may |
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| 37 | 37 | | not exceed 10 percent of the total money collected. |
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| 38 | 38 | | SECTION 4. The scholarship trust fund for fifth-year |
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| 39 | 39 | | accounting students is re-created by this Act as a trust fund held |
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| 40 | 40 | | outside the state treasury by the Texas State Board of Public |
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| 41 | 41 | | Accountancy. The revenue dedicated to the trust fund as provided by |
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| 42 | 42 | | Chapter 119 (H.B. 2440), Acts of the 81st Legislature, Regular |
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| 43 | 43 | | Session, 2009, is rededicated by this Act for the purposes |
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| 44 | 44 | | specified by Subchapter N, Chapter 901, Occupations Code, as |
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| 45 | 45 | | amended by that Act. |
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| 46 | 46 | | SECTION 5. This Act takes effect immediately if it receives |
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| 47 | 47 | | a vote of two-thirds of all the members elected to each house, as |
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| 48 | 48 | | provided by Section 39, Article III, Texas Constitution. If this |
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| 49 | 49 | | Act does not receive the vote necessary for immediate effect, this |
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| 50 | 50 | | Act takes effect September 1, 2011. |
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