| 1 | 1 | | 88R9623 DIO-D |
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| 2 | 2 | | By: Perry S.B. No. 951 |
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| 3 | 3 | | |
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| 4 | 4 | | |
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| 5 | 5 | | A BILL TO BE ENTITLED |
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| 6 | 6 | | AN ACT |
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| 7 | 7 | | relating to the award of scholarship money by the Texas State Board |
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| 8 | 8 | | of Public Accountancy to certain accounting students. |
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| 9 | 9 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 10 | 10 | | SECTION 1. Section 901.155, Occupations Code, is amended to |
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| 11 | 11 | | read as follows: |
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| 12 | 12 | | Sec. 901.155. SCHOLARSHIP TRUST FUND FOR [FIFTH-YEAR] |
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| 13 | 13 | | ACCOUNTING STUDENTS. (a) The fee for the issuance or renewal of a |
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| 14 | 14 | | license under this chapter consists of: |
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| 15 | 15 | | (1) the amount of the fee set by the board under |
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| 16 | 16 | | Section 901.154; and |
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| 17 | 17 | | (2) an additional $10 annual fee to be deposited to the |
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| 18 | 18 | | credit of the scholarship trust fund for [fifth-year] accounting |
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| 19 | 19 | | students. |
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| 20 | 20 | | (b) The scholarship trust fund for [fifth-year] accounting |
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| 21 | 21 | | students is held by the board outside the state treasury and may be |
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| 22 | 22 | | used only to: |
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| 23 | 23 | | (1) provide scholarships under Subchapter N to |
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| 24 | 24 | | accounting students in [the fifth year of] a program designed to |
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| 25 | 25 | | qualify each student to apply for certification as a certified |
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| 26 | 26 | | public accountant; and |
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| 27 | 27 | | (2) pay administrative costs under Subsection (c). |
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| 28 | 28 | | (c) The administrative costs incurred to collect the fee |
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| 29 | 29 | | imposed under Subsection (a)(2) and to disburse the money may not |
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| 30 | 30 | | exceed 10 percent of the total money collected. |
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| 31 | 31 | | (d) Notwithstanding Section 404.071, Government Code, |
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| 32 | 32 | | interest earned on amounts in the scholarship trust fund for |
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| 33 | 33 | | [fifth-year] accounting students shall be credited to that fund. |
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| 34 | 34 | | SECTION 2. The heading to Subchapter N, Chapter 901, |
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| 35 | 35 | | Occupations Code, is amended to read as follows: |
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| 36 | 36 | | SUBCHAPTER N. SCHOLARSHIPS FOR [FIFTH-YEAR] ACCOUNTING STUDENTS |
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| 37 | 37 | | SECTION 3. Section 901.653, Occupations Code, is amended to |
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| 38 | 38 | | read as follows: |
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| 39 | 39 | | Sec. 901.653. SCHOLARSHIPS. The board shall establish and |
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| 40 | 40 | | administer, using funds collected and appropriated for that purpose |
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| 41 | 41 | | and in accordance with this subchapter and board rules, |
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| 42 | 42 | | scholarships for [fifth-year] accounting students. |
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| 43 | 43 | | SECTION 4. Section 901.654(b), Occupations Code, is amended |
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| 44 | 44 | | to read as follows: |
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| 45 | 45 | | (b) In determining what best promotes the public purpose, |
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| 46 | 46 | | the board shall consider at a minimum the following factors |
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| 47 | 47 | | relating to each person applying for a scholarship under this |
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| 48 | 48 | | section: |
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| 49 | 49 | | (1) financial need; |
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| 50 | 50 | | (2) ethnic or racial minority status; and |
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| 51 | 51 | | (3) scholastic ability and performance in at least 15 |
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| 52 | 52 | | hours of upper-level accounting coursework. |
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| 53 | 53 | | SECTION 5. Section 901.656(a), Occupations Code, is amended |
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| 54 | 54 | | to read as follows: |
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| 55 | 55 | | (a) The board shall determine the maximum amount of any |
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| 56 | 56 | | scholarship awarded under this subchapter. The scholarship may be |
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| 57 | 57 | | spent by the recipient on the expenses for tuition, fees, books, |
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| 58 | 58 | | supplies, and living expenses incurred by the student in connection |
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| 59 | 59 | | with the accounting student's study in [fifth year of] an |
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| 60 | 60 | | accounting program. Scholarships shall be made available to |
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| 61 | 61 | | eligible students attending: |
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| 62 | 62 | | (1) any institution of higher education; or |
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| 63 | 63 | | (2) any nonprofit independent institution approved by |
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| 64 | 64 | | the Texas Higher Education Coordinating Board under Section 61.222, |
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| 65 | 65 | | Education Code. |
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| 66 | 66 | | SECTION 6. Section 901.660(a), Occupations Code, is amended |
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| 67 | 67 | | to read as follows: |
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| 68 | 68 | | (a) Before January 15 of each odd-numbered year, the board |
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| 69 | 69 | | shall report to the legislature concerning the scholarship program |
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| 70 | 70 | | for [fifth-year] accounting students administered by the board |
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| 71 | 71 | | under this subchapter. |
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| 72 | 72 | | SECTION 7. Section 901.651, Occupations Code, is repealed. |
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| 73 | 73 | | SECTION 8. The Texas State Board of Public Accountancy |
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| 74 | 74 | | shall adopt rules necessary to implement the changes in law made by |
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| 75 | 75 | | this Act not later than October 1, 2023. |
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| 76 | 76 | | SECTION 9. This Act takes effect immediately if it receives |
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| 77 | 77 | | a vote of two-thirds of all the members elected to each house, as |
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| 78 | 78 | | provided by Section 39, Article III, Texas Constitution. If this |
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| 79 | 79 | | Act does not receive the vote necessary for immediate effect, this |
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| 80 | 80 | | Act takes effect September 1, 2023. |
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