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AN ACT
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relating to the dissolution of a direct-support organization |
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established by the Prepaid Higher Education Tuition Board and the |
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transfer of funds related to prepaid higher education tuition |
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scholarships to the Texas Match the Promise Foundation or a |
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successor entity. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 54.633, Education Code, is amended by |
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adding Subsection (n) to read as follows: |
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(n) The comptroller may dissolve a direct-support |
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organization established under Subsection (e) if the comptroller |
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determines that the purpose of the organization has been |
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substantially complied with and orders the dissolution. On |
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dissolution of the organization, title to all funds and property |
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held by the organization is transferred to the Texas Match the |
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Promise Foundation or a successor entity. |
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SECTION 2. This Act takes effect September 1, 2019. |
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______________________________ |
______________________________ |
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President of the Senate |
Speaker of the House |
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I certify that H.B. No. 2668 was passed by the House on April |
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30, 2019, by the following vote: Yeas 138, Nays 3, 1 present, not |
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voting. |
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______________________________ |
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Chief Clerk of the House |
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I certify that H.B. No. 2668 was passed by the Senate on May |
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22, 2019, by the following vote: Yeas 31, Nays 0. |
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______________________________ |
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Secretary of the Senate |
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APPROVED: _____________________ |
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Date |
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_____________________ |
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Governor |