The bill, S.B. No. 1701, aims to establish a Health Care Professional Education Fund to support the production of health care professional degrees in Texas. It amends Section 62.003(1) of the Education Code to include Subchapter J, which defines "eligible institution" and introduces the new fund. The purpose of this fund is to provide a dedicated source of funding for general academic teaching institutions to increase the number of health care professional degrees awarded, thereby addressing workforce needs in the state. The bill outlines the administration and investment of the fund, eligibility criteria for institutions to receive distributions, and the allocation of appropriated funds.

Key provisions include the establishment of a permanent endowment for health care professional education, which allocates 95% of the appropriated funds, and a startup fund for new or expanded health care degree programs, which receives 5%. The bill also specifies that the comptroller will manage the fund, determine distribution amounts, and may accept gifts or donations to enhance the fund. Importantly, the bill's effectiveness is contingent upon the approval of a constitutional amendment proposed by the 89th Legislature, which aims to create the Texas Health Care Workforce Education Fund. If the amendment is not approved by voters, the bill will have no effect.

Statutes affected:
Introduced: Education Code 62.003 (Education Code 62)