- Next Review Date: 2020-2021 Review Cycle - 87th Legislative Session
- Last Review Date: 2006-2007 Review Cycle - 80th Legislative Session
Sunset Review Documents for 2006-2007 Review Cycle, 80th Legislative Session
- Summary of Results (Jul 2007)
- Report to the 80th Legislature Agency Section (Feb 2007)
- Staff Report (Nov 2006)
- Self-Evaluation Report (Aug 2005)
- House Bill 2173 (Jun 2007)
Final Results from Last Sunset Report
The Prepaid Higher Education Tuition Board (the Board), established by the Legislature in 1995, oversees the State’s two 529 college savings plans. The Texas Guaranteed Tuition Plan allows Texas families to prepay college tuition and is backed by the full faith and credit of the State. The Board temporarily suspended enrollment in the Guaranteed Tuition Plan in 2003 because of the uncertain effects of tuition deregulation. The Board also oversees Tomorrow’s College Investment Plan that works much like a 401(k) but with after-tax dollars. This plan helps parents save for college, but is not guaranteed by the State. Housed at the Comptroller’s Office, the Board is supported by 21 staff and receives no appropriations but instead relies on guaranteed tuition contract payments, investment income, and fees to cover administrative costs and tuition benefits.
House Bill 2173 continues the Board for 12 years and contains all of the Sunset Commission’s recommendations to help the Board reopen enrollment in the Texas Guaranteed Tuition Plan. The list below summarizes the bill’s major provisions.
- Facilitate the Board’s ability to reopen the Guaranteed Tuition Plan by giving the Board the flexibility to more accurately price tuition contracts in the current tuition deregulated environment.
- Require an ethics policy for Board members and staff to help ensure against any potential conflicts of interest.
- Require the Board to study how it could leverage prepaid tuition contracts to secure benefits for Guaranteed Tuition Plan beneficiaries from Texas universities.
- Continue the Prepaid Higher Education Tuition Board for 12 years.
- Require Guaranteed Tuition Plan applicants to provide certain demographic information.