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  H.B. No. 2440
 
 
 
 
AN ACT
  relating to scholarships for fifth-year accounting students.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Section 901.155, Occupations Code, is amended to
  read as follows:
         Sec. 901.155.  SCHOLARSHIP TRUST FUND [ACCOUNT] FOR
  FIFTH-YEAR ACCOUNTING STUDENTS. (a)  The fee for the issuance or
  renewal of a license under this chapter is the amount of the fee set
  by the board under Section 901.154 together with the fee increase
  imposed under Section 901.406 and an additional $10 annual [$20]
  fee to be deposited to the credit of the scholarship trust fund
  [account] for fifth-year accounting students [in the general
  revenue fund].
         (b)  The scholarship trust fund [account] for fifth-year
  accounting students is held by the board outside the state treasury
  and may be used only to:
               (1)  provide scholarships under Subchapter N[, Chapter
  61, Education Code,] to accounting students in the fifth year of a
  program designed to qualify each student to apply for certification
  as a certified public accountant; and
               (2)  pay administrative costs under Subsection (c).
         (c)  The administrative costs incurred to collect the fee
  imposed under Subsection (a) and to disburse the money may not
  exceed 10 [15] percent of the total money collected[, with 10
  percent of the money allocated to the Texas Higher Education
  Coordinating Board and five percent of the money allocated to the
  board].
         (d)  Notwithstanding Section 404.071, Government Code,
  interest earned on amounts in the scholarship trust fund [account]
  for fifth-year accounting students shall be credited to that fund 
  [account].
         SECTION 2.  Subchapter N, Chapter 61, Education Code, is
  transferred to Chapter 901, Occupations Code, designated as
  Subchapter N, Chapter 901, Occupations Code, and amended to read as
  follows:
  SUBCHAPTER N. SCHOLARSHIPS FOR FIFTH-YEAR ACCOUNTING STUDENTS
         Sec. 901.651  [61.751]. DEFINITION. In this subchapter,
  "fifth-year accounting student" means a student enrolled in the
  additional hours of study required by Section 901.254 [12(e)(2)(B),
  Public Accountancy Act of 1991 (Article 41a-1, Vernon's Texas Civil
  Statutes)].
         Sec. 901.652  [61.752]. PUBLIC PURPOSE. The scholarships
  required by this subchapter serve a public purpose of the state as
  described by Section 901.155 [32, Public Accountancy Act of 1991
  (Article 41a-1, Vernon's Texas Civil Statutes)].
         Sec. 901.653  [61.753]. SCHOLARSHIPS. The board shall
  establish and administer, using funds collected and appropriated
  for that purpose and in accordance with this subchapter and board
  rules, scholarships for fifth-year accounting students.
         Sec. 901.654  [61.754]. FACTORS. (a) Scholarships shall be
  established and administered in a manner that the board determines
  best serves the public purpose of the scholarships.
         (b)  In determining what best promotes the public purpose,
  the board shall consider at a minimum the following factors
  relating to each person applying for a scholarship under this
  section:
               (1)  financial need;
               (2)  ethnic or racial minority status; and
               (3)  scholastic ability and performance.
         Sec. 901.655  [61.755]. RULES. (a) The board shall adopt
  rules as necessary for the administration of this subchapter.
         (b)  The board shall adopt rules relating to the
  establishment of the scholarships under Section 901.653 [61.753 of
  this code], including rules providing eligibility criteria and the
  determination of the amount of each scholarship.
         Sec. 901.656  [61.756]. SCHOLARSHIP REGULATIONS. (a) The
  board, in consultation with the advisory committee appointed under
  Section 901.657 [61.757], shall determine the maximum amount of any
  scholarship awarded under this subchapter. The scholarship may be
  spent by the recipient on the expenses for tuition, fees, books,
  supplies, and living expenses incurred by the student in connection
  with the student's fifth year of an accounting program.
  Scholarships shall be made available to eligible students
  attending:
               (1)  any institution of higher education; or
               (2)  any nonprofit independent institution approved by
  the Texas Higher Education Coordinating Board [board] under Section
  61.222, Education Code.
         (b)  The board may award a scholarship under this subchapter
  only to an eligible student who intends to take the written
  examination conducted by the board [Texas State Board of Public
  Accountancy] for the purpose of granting a certificate of
  "certified public accountant."  An applicant for a scholarship
  under this subchapter shall state such an intent by filing a form
  provided by the board stating an intent to take the examination.
         (c)  A scholarship under this subchapter shall be paid to the
  recipient in the form of periodic partial payments throughout the
  school year. The board by rule shall determine the manner in which
  these payments are made.
         Sec. 901.657  [61.757]. ADVISORY COMMITTEE. (a) The board
  shall appoint an eight-member advisory committee to advise the
  board concerning scholarships provided under this subchapter. The
  advisory committee consists of:
               (1)  a presiding officer named by the board;
               (2)  one representative named by the board [Texas State
  Board of Public Accountancy];
               (3)  one representative named by the Texas Society of
  Certified Public Accountants;
               (4)  a Texas representative of the American Accounting
  Association named by that organization;
               (5)  one representative named by the National
  Association of Black Accountants;
               (6)  one representative named by the American
  Association of Hispanic Certified Public Accountants; and
               (7)  two representatives named by the Texas Higher
  Education Coordinating Board [board] who are the chairmen of
  accounting departments at Texas colleges and universities, at least
  one of whom must be a representative of a private college or
  university and at least one other of whom must be a representative
  from a college or university that primarily serves minority
  students.
         (b)  The costs of participation on an advisory committee of a
  member representing a particular organization or agency shall be
  borne by that member of the organization or agency the member
  represents.
         (c)  In addition to any other duties assigned by the board,
  the advisory committee specifically shall advise the board on:
               (1)  how the scholarships provided for under this
  subchapter should be established and administered to best promote
  the public purpose of the scholarships;
               (2)  the amount of money needed to adequately fund the
  scholarships and the maximum amount that may be awarded in any given
  year to an individual student; and
               (3)  any priorities among the factors identified by
  Section 901.654 [61.754].
         Sec. 901.658  [61.758]. FUNDING. The board may:
               (1)  use without appropriation, in accordance with
  Article 8930, Revised Statutes, this subchapter, and Section
  901.155 [32, Public Accountancy Act of 1991 (Article 41a-1,
  Vernon's Texas Civil Statutes)], any money [appropriated to it]
  from the trust fund established under Section 901.155 [by that
  section]; and
               (2)  accept gifts, grants, and donations of real or
  personal property from any entity, subject to limitations or
  conditions set by law, for the purposes of this subchapter.
         Sec. 901.659  [61.760]. MINORITY AND DISADVANTAGED STUDENT
  INTERNSHIPS. (a) The board shall adopt rules to encourage
  internships for minority and disadvantaged students and certified
  public accountant examination candidates who notify the board not
  later than 90 days after the date of being accepted into an
  accounting internship program.
         (b)  The rules adopted by the board shall include standards
  for appropriate recognition of an accounting firm for its efforts
  in training and hiring minority or disadvantaged students.
         SECTION 3.  Section 61.081, Education Code, is transferred
  to Subchapter N, Chapter 901, Occupations Code, as added by this
  Act, redesignated as Section 901.660, Occupations Code, and amended
  to read as follows:
         Sec. 901.660  [61.081].  REPORT ON ACCOUNTANT SCHOLARSHIP
  PROGRAM. (a)  Before January 15 of each odd-numbered year, the
  board shall report to the legislature concerning the scholarship
  program for fifth-year accounting students administered by the
  board under [Subchapter N, Chapter 61, of] this subchapter [code].
         (b)  The report expenses shall be included in the
  administrative costs allocated to the board under Section 901.155
  [32(e) of this code]. The report must include:
               (1)  the number and amount of scholarships awarded in
  the two calendar years preceding the year in which the report is
  due; and
               (2)  the number of minority students, by racial or
  ethnic background, who have been awarded scholarships under the
  program in that two-year period.
         SECTION 4.  (a)  Not later than January 1, 2010, the Texas
  State Board of Public Accountancy shall adopt the rules required to
  implement Subchapter N, Chapter 901, Occupations Code, as added by
  this Act.
         (b)  On the effective date of this Act, the Texas Higher
  Education Coordinating Board shall transfer to the Texas State
  Board of Public Accountancy for deposit in the scholarship trust
  fund established under Subchapter N, Chapter 901, Occupations Code,
  as added by this Act, any money in the general revenue account
  0106--scholarship fund for fifth year accounting students, and any
  money appropriated to the Texas Higher Education Coordinating Board
  for scholarships to fifth-year accounting students under
  Subchapter N, Chapter 61, Education Code, as that subchapter
  existed before the effective date of this Act, that has not been
  allocated to institutions of higher education for making awards to
  students during the 2009-2010 academic year under that scholarship
  program.
         SECTION 5.  This Act takes effect September 1, 2009.
 
 
  ______________________________ ______________________________
     President of the Senate Speaker of the House     
 
 
         I certify that H.B. No. 2440 was passed by the House on April
  24, 2009, by the following vote:  Yeas 134, Nays 4, 1 present, not
  voting.
 
  ______________________________
  Chief Clerk of the House   
 
 
         I certify that H.B. No. 2440 was passed by the Senate on May
  14, 2009, by the following vote:  Yeas 31, Nays 0.
 
  ______________________________
  Secretary of the Senate    
  APPROVED:  _____________________
                     Date          
   
            _____________________
                   Governor