By: Paxton S.B. No. 1734
A BILL TO BE ENTITLED
AN ACT
relating to the dissolution of a non-profit direct-support
organization.
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) If the comptroller determines that the purpose of a
direct-support organization established under Subsection (e) has
been substantially complied with, the comptroller may dissolve the
organization. On dissolution, the title to all funds and properties
then owned by the organization shall transfer to the Texas Match the
Promise Foundation.
SECTION 2. This Act takes effect September 1, 2019.