88R9623 DIO-D
	By: Perry	S.B. No. 951

	A BILL TO BE ENTITLED
	AN ACT
	relating to the award of scholarship money by the Texas State Board
	of Public Accountancy to certain 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 FOR [FIFTH-YEAR]
	ACCOUNTING STUDENTS.  (a)  The fee for the issuance or renewal of a
	license under this chapter consists of:
	(1)  the amount of the fee set by the board under
	Section 901.154; and
	(2)  an additional $10 annual fee to be deposited to the
	credit of the scholarship trust fund for [fifth-year] accounting
	students.
	(b)  The scholarship trust fund 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 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)(2) and to disburse the money may not
	exceed 10 percent of the total money collected.
	(d)  Notwithstanding Section 404.071, Government Code,
	interest earned on amounts in the scholarship trust fund for
	[fifth-year] accounting students shall be credited to that fund.
	SECTION 2.  The heading to Subchapter N, Chapter 901,
	Occupations Code, is amended to read as follows:
	SUBCHAPTER N. SCHOLARSHIPS FOR [FIFTH-YEAR] ACCOUNTING STUDENTS
	SECTION 3.  Section 901.653, Occupations Code, is amended to
	read as follows:
	Sec. 901.653.  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.
	SECTION 4.  Section 901.654(b), Occupations Code, is amended
	to read as follows:
	(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 in at least 15
	hours of upper-level accounting coursework.
	SECTION 5.  Section 901.656(a), Occupations Code, is amended
	to read as follows:
	(a)  The board 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 accounting student's study in [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 under Section 61.222,
	Education Code.
	SECTION 6.  Section 901.660(a), Occupations Code, is amended
	to read as follows:
	(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 this subchapter.
	SECTION 7.  Section 901.651, Occupations Code, is repealed.
	SECTION 8.  The Texas State Board of Public Accountancy
	shall adopt rules necessary to implement the changes in law made by
	this Act not later than October 1, 2023.
	SECTION 9.  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, 2023.