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.