relating to the establishment of an education savings account
program.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. The purpose of this Act is to:
(1) provide additional educational options to assist
families in this state in exercising the right to direct the
educational needs of their children; and
(2) achieve a general diffusion of knowledge.
SECTION 2. Chapter 29, Education Code, is amended by adding
Subchapter J to read as follows:
SUBCHAPTER J. EDUCATION SAVINGS ACCOUNT PROGRAM
Sec. 29.351. DEFINITIONS. In this subchapter:
(1)"Account" means an education savings account
established under the program.
(2)"Approved educational assistance organization"
means an organization approved under Section 29.354 to support the
administration of the program.
(3)"Approved education-related expense" means an
expense approved under Section 29.359.
(4)"Child with a disability" means a child who is
eligible to participate in a school district's special education
program under Section 29.003.
(5)"Cocurricular activity" means an activity that
directly adds value to classroom instruction and curriculum,
including an academic field trip, performance, contest, or display.
The term does not include an athletic or other nonacademic
activity.
(6)"Higher education provider" means an institution
of higher education or a private or independent institution of
higher education, as those terms are defined by Section 61.003.
(7)"Parent" means a resident of this state who is a
natural or adoptive parent, managing or possessory conservator,
legal guardian, custodian, or other person with legal authority to
act on behalf of a child.
(8)"Program" means the program established under this
subchapter.
(9)"Program participant" means a child and a parent
of a child enrolled in the program.
Sec.29.352.ESTABLISHMENT OF PROGRAM. The comptroller
shall establish a program to provide funding for approved
education-related expenses of children participating in the
program.
Sec.29.353.PROGRAM FUND. (a) The program fund is an
account in the general revenue fund to be administered by the
comptroller.
(b) The fund is composed of:
(1) general revenue transferred to the fund;
(2) money appropriated to the fund;
(3)gifts, grants, and donations received under
Section 29.370; and
(4)any other money available for purposes of the
program.
(c)Money in the fund may be appropriated only for the uses
specified by this subchapter.
Sec.29.354.SELECTION OF APPROVED EDUCATIONAL ASSISTANCE
ORGANIZATIONS. (a) An organization may apply to the comptroller
for approval as an approved educational assistance organization
during an application period established by the comptroller.
(b) To be eligible for approval, an organization must:
(1)have the ability to perform the duties and
functions required of an approved educational assistance
organization under this subchapter;
(2) be in good standing with the state; and
(3)be able to assist the comptroller in administeringStatutes affected: Introduced: Education Code 22.092, Government Code 411.109 (Government Code 411, Education Code 22)