88R9623 DIO-D     By: Button, Burns, Bucy, Clardy, Howard, H.B. No. 2504       et al.       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.