By: Turner of Tarrant (Senate Sponsor - Paxton) H.B. No. 2668
(In the Senate - Received from the House April 30, 2019;
May 1, 2019, read first time and referred to Committee on Higher
Education; May 19, 2019, reported favorably by the following vote:
Yeas 9, Nays 0; May 19, 2019, sent to printer.)
Click here to see the committee vote
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.
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