86R11251 MM-F
By: Turner of Tarrant H.B. No. 2668
A BILL TO BE ENTITLED
AN ACT
relating to the dissolution of a direct-support organization
established by the Prepaid Higher Education Tuition Board and the
transfer of funds related to prepaid higher education tuition
scholarships to the Texas Save and Match Program.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 54.633, Education Code, is amended by
adding Subsection (n) to read as follows:
(n) The board shall dissolve a direct-support organization
established under Subsection (e) if the comptroller determines that
the purpose of the organization has been substantially complied
with and orders the dissolution. On dissolution of the
organization, the board shall transfer all funds and property held
by the organization to the fund established under Section 54.808.
SECTION 2. This Act takes effect September 1, 2019.