Texas Senate Bill SB951

Texas 2023 - 88th Regular

• Filed: 2/15/23

Caption

Relating to the award of scholarship money by the Texas State Board of Public Accountancy to certain accounting students.

Impact

The amendments made by SB951 to the Occupations Code are significant as they specify that the scholarships can only be awarded based on certain criteria, including financial need and minority status, among others. This enables the board to work closely with applicants to promote diversity within the profession while simultaneously addressing the financial burdens associated with higher education. Furthermore, the act requires the Texas State Board of Public Accountancy to report to the legislature biennially on the program's effectiveness, thereby establishing an ongoing evaluation framework for the scholarship initiative.

Summary

SB951, introduced by Senator Perry, aims to modify the scholarship program for accounting students administered by the Texas State Board of Public Accountancy. The bill establishes a scholarship trust fund specifically for accounting students, which will be funded by an additional annual fee of $10 imposed on the issuance or renewal of licenses by the board. The scholarships provided through this fund are targeted at students in their fifth year of accounting education, supporting expenses like tuition, fees, and books, thus making strides toward enhancing the educational opportunities in accounting within Texas.

Sentiment

The sentiment around SB951 appears to be generally positive among educational and professional circles, particularly among advocates for accounting education. Supporters argue that the bill provides a much-needed financial boost for students pursuing careers in accounting, which is essential for the state's continued economic development. However, there may be concerns from some stakeholders regarding the adequacy of funding and whether the annual fee will suffice to support a robust scholarship program.

Contention

One notable point of contention relates to the funding mechanism of the scholarship trust. Some critics may argue that relying on an additional fee could disproportionately affect lower-income applicants seeking licenses. There may also be discussions regarding the criteria for awarding scholarships, specifically whether the provisions for minority status effectively promote inclusion or if they inadvertently create inequities. Lastly, the requirement for the board to adhere to specific deadlines for rule adoption and program evaluations is another area that could lead to scrutiny as the implementation progresses.

Texas Constitutional Statutes Affected

Occupations Code

• Chapter 901. Accountants
  • Section: 155
  • Section: 653
  • Section: 654
  • Section: 656
  • Section: New Section