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| 1 | 1 | By: Paxton S.B. No. 1734 | |
| 2 | + | (In the Senate - Filed March 6, 2019; March 14, 2019, read | |
| 3 | + | first time and referred to Committee on Higher Education; | |
| 4 | + | April 24, 2019, reported favorably by the following vote: Yeas 9, | |
| 5 | + | Nays 0; April 24, 2019, sent to printer.) | |
| 6 | + | Click here to see the committee vote | |
| 2 | 7 | ||
| 3 | 8 | ||
| 4 | 9 | A BILL TO BE ENTITLED | |
| 5 | 10 | AN ACT | |
| 6 | 11 | relating to the dissolution of a non-profit direct-support | |
| 7 | 12 | organization. | |
| 8 | 13 | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | |
| 9 | 14 | SECTION 1. Section 54.633, Education Code, is amended by | |
| 10 | 15 | adding Subsection (n) to read as follows: | |
| 11 | 16 | (n) If the comptroller determines that the purpose of a | |
| 12 | 17 | direct-support organization established under Subsection (e) has | |
| 13 | 18 | been substantially complied with, the comptroller may dissolve the | |
| 14 | 19 | organization. On dissolution, the title to all funds and | |
| 15 | 20 | properties then owned by the organization shall transfer to the | |
| 16 | 21 | Texas Match the Promise Foundation. | |
| 17 | 22 | SECTION 2. This Act takes effect September 1, 2019. | |
| 23 | + | * * * * * |