The bill, titled H.B. No. 5299, establishes 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 in 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 to administer the program, develop necessary rules, and award 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 academic performance requirements. The bill stipulates that grants will be awarded based on the difference between tuition costs and other financial aid, with a maximum grant amount of $1,000. Additionally, students who complete their programs will be eligible for a $1,000 incentive bonus. The Texas Higher Education Coordinating Board is tasked with informing students and school districts about the program, and the implementation of the program is set to begin in the 2026-2027 academic year, following the adoption of necessary rules.

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