Bill Text: TX SB1504 | 2019-2020 | 86th Legislature | Engrossed

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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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

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By: Zaffirini, Hinojosa S.B. No. 1504
Lucio

A BILL TO BE ENTITLED
AN ACT
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 [2020], the Texas B-On-time student
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[, "eligible] institution" means a
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.