83R9535 JSA-D
By: Turner of Tarrant H.B. No. 3265
A BILL TO BE ENTITLED
AN ACT
relating to the administration of the Texas B-On-time loan program
to permit a portion of tuition set-asides to be used to fund tuition
exemptions for veterans and other student financial assistance.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 56.465, Education Code, is amended by
amending Subsection (b) and adding Subsections (c) and (d) to read
as follows:
(b) Subject to Subsection (c), the [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.
(c) If the amount of tuition set aside under Subsection (a)
at an institution of higher education in an academic year exceeds
the amount necessary to fund loans to students of the institution
under the Texas B-On-time loan program in that academic year, the
coordinating board shall permit the institution to retain the
portion of the tuition set aside at the institution that exceeds the
amount necessary to fund loans to students of the institution under
the program. The institution is not required to deposit that
portion of the tuition to the credit of the Texas B-On-time student
loan account or to the interest and sinking fund established under
Section 52.91(b). Any amount retained by the institution under
this subsection may be used only to fund exemptions for veterans and
their family members under Section 54.341. If the amount retained
exceeds the amount necessary to fully fund those exemptions, the
institution shall use any remaining amount to provide financial
assistance to students of the institution in the same manner as
tuition set aside at the institution under Section 56.011.
(d) Under Subsection (c), the coordinating board may not
permit institutions to retain a portion of tuition set aside under
Subsection (a) that would have an adverse impact on the repayment of
bonds issued to provide funding to support the Texas B-On-time loan
program.
SECTION 2. The change in law made by this Act to Section
56.465, Education Code, does not affect the application of that
section to tuition set aside under that section for any semester or
other academic term before the 2013 fall semester, and the former
law is continued in effect for purposes of the use of that amount
under the Texas B-On-time loan program.
SECTION 3. 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, 2013.