This account is inactive. Please see the notes section for further information regarding the inactive status. Recently inactivated accounts may remain active in USAS for a period of time to complete outstanding transactions or for other accounting purposes.

Issue Date:
Revised Date: 2023-07-21

Legal Cites

  • Occupations Code sec. 901.155

Origin:

1991 by S.B. 75, 72nd Leg., R.S.

Purpose

To provide scholarships to accounting students in a program that would qualify recipient to apply for a certified public accountant. An additional $10 fee on each license fee collected. 

Classification Group 13: Local Trust [?]
Depository Interest Retained in fund.
Disposition of Balance Accumulative
Appropriation Technique Not appropriated.

Note

Previously administered by the Texas Higher Education Coordinating Board, Agency 781. 

Exempt from loss of dedication (§ 403.094, Government Code) by H.B. 3050, 74th Leg., R.S.

H.B. 2440, 81st Leg., R.S., attempted to create the account as a trust fund outside the Treasury.  H.B. 4583 (funds consolidation bill) recreated as an account in the General Revenue Fund. Appropriation authority and program transferred to Texas State Board of Public Accountancy, Agency 457, effective 9-1-09. 

Recreated as a trust fund outside the treasury with Texas Treasury Safekeeping Trust Company by S.B. 777 and S.B. 1588, 82nd Leg., R.S.

H.B. 2217, 88th Leg., R.S. changed name from Scholarship Fund for Fifth-Year Accounting Students.

USAS Values

USAS Title GR ACCT-SCHOLARSHIP 5TH YR ACCT
Consolidated Fund 0001
State Fund Group 01 - GENERAL STATE OPERATING & DISBURSING FDS
USAS Status I
Funds held outside the state treasury in a trustee capacity for individuals, private organizations or other governmental entities. Includes assets belonging to individuals and other entities held temporarily in a custodial capacity.