83R118 JRJ-D
By: Raymond H.B. No. 976
A BILL TO BE ENTITLED
AN ACT
relating to the use of money from Veterans' Land Board funds to
provide educational benefits to veterans.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Chapter 56, Education Code, is amended by adding
Subchapter G to read as follows:
SUBCHAPTER G. TEACHER INCENTIVE LOAN INTEREST PAYMENT PROGRAM FOR
CERTAIN VETERANS
Sec. 56.101. DEFINITIONS. In this subchapter:
(1) "Coordinating board" means the Texas Higher
Education Coordinating Board.
(2) "Program" means the teacher incentive loan
interest payment program established under this subchapter.
Sec. 56.102. ESTABLISHMENT; PURPOSE. The coordinating
board shall establish and administer the teacher incentive loan
interest payment program for the purpose of providing payment
assistance on education loan interest to eligible veterans.
Sec. 56.103. ELIGIBILITY. To be eligible for payment
assistance on education loan interest under the program, an
individual must:
(1) be employed as a full-time faculty member in a
public school district in this state for at least four years;
(2) be a Texas resident;
(3) be a veteran of the armed forces of the United
States or of the military forces of this state who has served on
active military duty in the service of this state or the United
States;
(4) have qualified for student financial aid based on
financial need while enrolled in an undergraduate degree program;
and
(5) comply with any other requirements adopted by the
coordinating board for the effective administration of the program.
Sec. 56.104. ELIGIBLE LOANS. The coordinating board may
provide payment assistance on education loan interest under the
program for the payment of any education loan interest charged to an
eligible individual through any lender.
Sec. 56.105. LOAN INTEREST PAYMENT ASSISTANCE. The
coordinating board shall provide assistance in the payment of
interest on an eligible loan to an eligible individual in the amount
of the interest on an eligible loan and under the terms the
coordinating board considers appropriate to further the purposes of
the program and the best interests of this state.
Sec. 56.106. FUNDING; LIMITATION ON FUNDING. (a) The
program may be funded only from a source provided by this section.
The total amount of education loan interest payment assistance paid
under the program may not exceed the amount of money available for
the program under this section.
(b) The comptroller shall set aside money in the veterans'
land fund, the veterans' housing assistance fund, or the veterans'
housing assistance fund II in the amounts provided by legislative
appropriation for the purposes of the program. The money shall be
retained in the applicable funds, and any appropriated amount not
used for purposes of this subchapter is available for the other
purposes for which the fund is established when the appropriation
lapses. The appropriated money may be used only to provide loan
interest payment under this subchapter and to cover the costs of
administering this subchapter.
(c) The coordinating board may solicit and accept gifts and
grants from any public or private source for the purposes of the
program.
Sec. 56.107. RULES. The coordinating board shall adopt
rules as necessary for the administration of this subchapter.
SECTION 2. This Act takes effect on the date the
constitutional amendment proposed by the 83rd Legislature, Regular
Session, 2013, authorizing the use of available Veterans' Land
Board money for the payment of educational benefits for veterans is
approved by the voters. If that amendment is not approved by the
voters, this Act has no effect.