88(4) HB 115 - Introduced version - Bill Text
  88S40601 MM-F
 
  By:  Jetton H.B.  No.  115
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  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 administering

Statutes affected:
Introduced: Education Code 22.092, Government Code 411.109 (Education Code 22, Government Code 411)