Bill Text: TX HB2668 | 2019-2020 | 86th Legislature | Comm Sub
NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: 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.
Spectrum: Slight Partisan Bill (Republican 2-1)
Status: (Passed) 2019-06-10 - Effective on 9/1/19 [HB2668 Detail]
Download: Texas-2019-HB2668-Comm_Sub.html
Bill Title: 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.
Spectrum: Slight Partisan Bill (Republican 2-1)
Status: (Passed) 2019-06-10 - Effective on 9/1/19 [HB2668 Detail]
Download: Texas-2019-HB2668-Comm_Sub.html
86R16227 MM-F | |||
By: Turner of Tarrant | H.B. No. 2668 | ||
Substitute the following for H.B. No. 2668: | |||
By: Turner of Tarrant | C.S.H.B. No. 2668 |
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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. |