Bill Text: TX SB1734 | 2019-2020 | 86th Legislature | Engrossed
Bill Title: Relating to the dissolution of a non-profit direct-support organization.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Engrossed - Dead) 2019-05-07 - Referred to Higher Education [SB1734 Detail]
Download: Texas-2019-SB1734-Engrossed.html
| By: Paxton | S.B. No. 1734 | |
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| relating to the dissolution of a non-profit direct-support | ||
| organization. | ||
| 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) If the comptroller determines that the purpose of a | ||
| direct-support organization established under Subsection (e) has | ||
| been substantially complied with, the comptroller may dissolve the | ||
| organization. On dissolution, the title to all funds and | ||
| properties then owned by the organization shall transfer to the | ||
| Texas Match the Promise Foundation. | ||
| SECTION 2. This Act takes effect September 1, 2019. | ||
