The bill, H.B. No. 3030, introduces a new subchapter to Chapter 61 of the Education Code, specifically aimed at providing student loan repayment assistance for certain state employees. It defines "state employee" to include individuals employed by state agencies, the Texas Supreme Court, the Court of Criminal Appeals, courts of appeals, and legislative bodies. The bill outlines eligibility criteria for loan repayment assistance, which includes having an income at or below 80% of the statewide median family income, being employed as a state employee for at least five years, and applying through the designated board. The assistance is limited to a maximum of five years and can cover various types of student loans, provided they are not in default at the time of application.

Additionally, the bill mandates that the Texas Higher Education Coordinating Board will only provide this assistance if the legislature appropriates specific funds for this purpose. If such funds are not allocated, the board may still offer assistance using other available appropriations. The bill also includes provisions for the board to adopt necessary rules for administration, solicit gifts and grants to support the program, and outlines the maximum amount of assistance that can be awarded based on available funding sources. The act is set to take effect on September 1, 2025.

Statutes affected:
Introduced: ()