86R16227 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 Match the Promise Foundation or a
successor entity.
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 comptroller may 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, title to all funds and property
held by the organization is transferred to the Texas Match the
Promise Foundation or a successor entity.
SECTION 2. This Act takes effect September 1, 2019.