The bill proposes the establishment of the Texas Promise Grant Program, aimed at providing financial assistance to eligible students attending two-year public institutions of higher education. It introduces a new subchapter, Subchapter V, to Chapter 56 of the Education Code, which outlines the definitions, purpose, administration, eligibility criteria, and grant amounts associated with the program. The Texas Higher Education Coordinating Board is designated as the administering body, responsible for developing rules and awarding grants and incentive bonuses to eligible students. The program is designed to cover tuition and mandatory fees, incentivizing students to complete their associate degrees or certificate programs.

To qualify for the grant, students must meet specific criteria, including residency, recent high school graduation, enrollment in an eligible program, and compliance with financial aid applications. The bill stipulates that grants will be awarded based on the difference between tuition costs and other financial aid received, with a maximum grant amount of $1,000. Additionally, students who complete their programs will be eligible for a $1,000 incentive bonus. The Coordinating Board is tasked with notifying school districts and prospective students about the program, ensuring that information about eligibility and benefits is widely disseminated. The implementation of the program is set to begin in the 2026-2027 academic year, following the adoption of necessary rules by the Coordinating Board.

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