HBA-KMH S.B. 848 76(R) BILL ANALYSIS Office of House Bill AnalysisS.B. 848 By: Nixon Higher Education 5/7/1999 Engrossed BACKGROUND AND PURPOSE Currently, a portion of the license renewal fee for a certified public accountant goes to a scholarship fund for fifth-year accounting students. This money is deposited into the general revenue fund, rather than in a separate account. S.B. 848 creates a special fund for scholarships for fifth-year accounting students. This bill transfers funds from an existing fifth-year accounting student scholarship fund. RULEMAKING AUTHORITY It is the opinion of the Office of House Bill Analysis that this bill does not expressly delegate any additional rulemaking authority to a state officer, department, agency or institution. SECTION BY SECTION ANALYSIS SECTION 1. Amends Sections 32(c) and (d), Article 41a-1, V.T.C.S. (Public Accountancy Act of 1991), to require each fee collected under this section to be deposited to the credit of the scholarship fund (fund) for fifth-year accounting students as a special fund in the treasury outside the general revenue fund, rather than to the credit of a special fund to be known as the scholarship fund for fifthyear accounting students. Authorizes the fund to be appropriated, rather than used, only to, rather than by, the Texas Higher Education Coordinating Board. Provides that the fund is exempt from the application of Section 403.095 (Use of Dedicated Revenue), rather than Section 404.071 (Dispotition of Interest on Investments), Government Code. Makes conforming and nonsubstantive changes. SECTION 2. Requires the comptroller of public accounts to transfer the balance of the scholarship fund for fifth-year accounting students as it exists immediately before the effective date of this Act to the special fund outside the general revenue fund created by this Act, on the effective date of this Act. SECTION 3. Emergency clause. Effective date: upon passage.