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AN ACT
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relating to the abolition of the B-On-time student loan account and |
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the allocation of funds remaining in that account. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 56.0092, Education Code, is amended by |
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amending Subsections (d) and (f) and adding Subsection (e-1) to |
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read as follows: |
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(d) On September 1, 2024 [2020], the Texas B-On-time student |
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loan account is abolished, and any remaining money in the account, |
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notwithstanding Subsection (b), may be appropriated only to |
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eligible institutions in the manner provided by Subsection (e). |
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(e-1) An eligible institution that receives an |
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appropriation of money under Subsection (d) may use the money only |
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to support efforts to increase the number of at-risk students who |
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graduate from the institution or the rate at which at-risk students |
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graduate from the institution. |
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(f) In this section: |
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(1) "At-risk student" means an undergraduate student |
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of an eligible institution: |
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(A) who has previously received a grant under the |
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federal Pell Grant program or met the Expected Family Contribution |
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(EFC) criterion for a grant under that program; or |
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(B) whose total score on the SAT or the ACT, |
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excluding the optional essay test, is less than the national mean of |
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students' scores on the applicable test. |
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(2) "Eligible[, "eligible] institution" means a |
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general academic teaching institution described by Section |
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56.451(2)(A) or a medical and dental unit described by Section |
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56.451(2)(B), as those paragraphs existed immediately before |
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September 1, 2015. |
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SECTION 2. This Act takes effect immediately if it receives |
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a vote of two-thirds of all the members elected to each house, as |
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provided by Section 39, Article III, Texas Constitution. If this |
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Act does not receive the vote necessary for immediate effect, this |
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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 hereby certify that S.B. No. 1504 passed the Senate on |
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April 30, 2019, by the following vote: Yeas 30, Nays 1; and that |
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the Senate concurred in House amendment on May 25, 2019, by the |
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following vote: Yeas 29, Nays 1. |
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______________________________ |
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Secretary of the Senate |
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I hereby certify that S.B. No. 1504 passed the House, with |
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amendment, on May 22, 2019, by the following vote: Yeas 137, |
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Nays 7, one present not voting. |
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______________________________ |
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Chief Clerk of the House |
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Approved: |
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______________________________ |
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Date |
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______________________________ |
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Governor |