Bill Text: TX HB976 | 2013-2014 | 83rd Legislature | Introduced


Bill Title: Relating to the use of money from Veterans' Land Board funds to provide educational benefits to veterans.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2013-02-25 - Referred to Defense & Veterans' Affairs [HB976 Detail]

Download: Texas-2013-HB976-Introduced.html
  83R118 JRJ-D
 
  By: Raymond H.B. No. 976
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to the use of money from Veterans' Land Board funds to
  provide educational benefits to veterans.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Chapter 56, Education Code, is amended by adding
  Subchapter G to read as follows:
  SUBCHAPTER G. TEACHER INCENTIVE LOAN INTEREST PAYMENT PROGRAM FOR
  CERTAIN VETERANS
         Sec. 56.101.  DEFINITIONS.  In this subchapter:
               (1)  "Coordinating board" means the Texas Higher
  Education Coordinating Board.
               (2)  "Program" means the teacher incentive loan
  interest payment program established under this subchapter.
         Sec. 56.102.  ESTABLISHMENT; PURPOSE. The coordinating
  board shall establish and administer the teacher incentive loan
  interest payment program for the purpose of providing payment
  assistance on education loan interest to eligible veterans.
         Sec. 56.103.  ELIGIBILITY. To be eligible for payment
  assistance on education loan interest under the program, an
  individual must:
               (1)  be employed as a full-time faculty member in a
  public school district in this state for at least four years;
               (2)  be a Texas resident;
               (3)  be a veteran of the armed forces of the United
  States or of the military forces of this state who has served on
  active military duty in the service of this state or the United
  States;
               (4)  have qualified for student financial aid based on
  financial need while enrolled in an undergraduate degree program;
  and
               (5)  comply with any other requirements adopted by the
  coordinating board for the effective administration of the program.
         Sec. 56.104.  ELIGIBLE LOANS. The coordinating board may
  provide payment assistance on education loan interest under the
  program for the payment of any education loan interest charged to an
  eligible individual through any lender.
         Sec. 56.105.  LOAN INTEREST PAYMENT ASSISTANCE. The
  coordinating board shall provide assistance in the payment of
  interest on an eligible loan to an eligible individual in the amount
  of the interest on an eligible loan and under the terms the
  coordinating board considers appropriate to further the purposes of
  the program and the best interests of this state.
         Sec. 56.106.  FUNDING; LIMITATION ON FUNDING. (a) The
  program may be funded only from a source provided by this section.
  The total amount of education loan interest payment assistance paid
  under the program may not exceed the amount of money available for
  the program under this section.
         (b)  The comptroller shall set aside money in the veterans'
  land fund, the veterans' housing assistance fund, or the veterans'
  housing assistance fund II in the amounts provided by legislative
  appropriation for the purposes of the program. The money shall be
  retained in the applicable funds, and any appropriated amount not
  used for purposes of this subchapter is available for the other
  purposes for which the fund is established when the appropriation
  lapses.  The appropriated money may be used only to provide loan
  interest payment under this subchapter and to cover the costs of
  administering this subchapter.
         (c)  The coordinating board may solicit and accept gifts and
  grants from any public or private source for the purposes of the
  program.
         Sec. 56.107.  RULES.  The coordinating board shall adopt
  rules as necessary for the administration of this subchapter.
         SECTION 2.  This Act takes effect on the date the
  constitutional amendment proposed by the 83rd Legislature, Regular
  Session, 2013, authorizing the use of available Veterans' Land
  Board money for the payment of educational benefits for veterans is
  approved by the voters. If that amendment is not approved by the
  voters, this Act has no effect.
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