Bill Text: TX SB1504 | 2019-2020 | 86th Legislature | Engrossed
NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Relating to the abolition of the B-On-time student loan account and the allocation of funds remaining in that account.
Spectrum: Partisan Bill (Democrat 4-0)
Status: (Passed) 2019-06-10 - Effective immediately [SB1504 Detail]
Download: Texas-2019-SB1504-Engrossed.html
Bill Title: Relating to the abolition of the B-On-time student loan account and the allocation of funds remaining in that account.
Spectrum: Partisan Bill (Democrat 4-0)
Status: (Passed) 2019-06-10 - Effective immediately [SB1504 Detail]
Download: Texas-2019-SB1504-Engrossed.html
By: Zaffirini, Hinojosa | S.B. No. 1504 | |
Lucio |
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relating to the abolition of the B-On-time student loan account and | ||
the allocation of funds remaining in that account. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Section 56.0092, Education Code, is amended by | ||
amending Subsections (d) and (f) and adding Subsection (e-1) to | ||
read as follows: | ||
(d) On September 1, 2021 [ |
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loan account is abolished, and any remaining money in the account, | ||
notwithstanding Subsection (b), may be appropriated only to | ||
eligible institutions in the manner provided by Subsection (e). | ||
(e-1) An eligible institution that receives an | ||
appropriation of money under Subsection (d) may use the money only | ||
to support efforts to increase the number of at-risk students who | ||
graduate from the institution or the rate at which at-risk students | ||
graduate from the institution. | ||
(f) In this section: | ||
(1) "At-risk student" means an undergraduate student | ||
of an eligible institution: | ||
(A) who has previously received a grant under the | ||
federal Pell Grant program or met the Expected Family Contribution | ||
(EFC) criterion for a grant under that program; or | ||
(B) whose total score on the SAT or the ACT, | ||
excluding the optional essay test, is less than the national mean of | ||
students' scores on the applicable test. | ||
(2) "Eligible[ |
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general academic teaching institution described by Section | ||
56.451(2)(A) or a medical and dental unit described by Section | ||
56.451(2)(B), as those paragraphs existed immediately before | ||
September 1, 2015. | ||
SECTION 2. This Act takes effect immediately if it receives | ||
a vote of two-thirds of all the members elected to each house, as | ||
provided by Section 39, Article III, Texas Constitution. If this | ||
Act does not receive the vote necessary for immediate effect, this | ||
Act takes effect September 1, 2019. |