Texas Statutes
Subchapter H. Prepaid Tuition Unit Undergraduate Education Program: Texas Tomorrow Fund Ii
Section 54.7671. Transfers Among 529 Plans

Sec. 54.7671. TRANSFERS AMONG 529 PLANS. (a) The board by rule shall provide for a purchaser to transfer money between an account under this subchapter and an account under another plan established by this state or by another state or other authorized entity in accordance with Section 529, Internal Revenue Code of 1986, to the extent and in the manner authorized by that section.
(b) For purposes of a transfer of money from an account under this subchapter, the value of the account at the time of transfer is the lesser of:
(1) an amount equal to the cost, at the time of the transfer, of the tuition and required fees that would be covered by redemption of the number and type of tuition units to be transferred from the account if the beneficiary were redeeming the units at a general academic teaching institution or two-year institution of higher education as follows:
(A) for a Type I unit, at the general academic teaching institution that had the highest tuition and required fee cost;
(B) for a Type II unit, at a general academic teaching institution that had tuition and required fee cost at the weighted average; and
(C) for a Type III unit, at a two-year institution of higher education that had tuition and required fee cost at the weighted average; or
(2) an amount equal to the total purchase price of the tuition units to be transferred from the account, plus the portion of the total return on assets of the fund attributable to that amount.
Added by Acts 2007, 80th Leg., R.S., Ch. 1281 (H.B. 3900), Sec. 1, eff. June 15, 2007.
Amended by:
Acts 2009, 81st Leg., R.S., Ch. 560 (S.B. 1941), Sec. 8, eff. June 19, 2009.

Structure Texas Statutes

Texas Statutes

Education Code

Title 3 - Higher Education

Subtitle A - Higher Education in General

Chapter 54 - Tuition and Fees

Subchapter H. Prepaid Tuition Unit Undergraduate Education Program: Texas Tomorrow Fund Ii

Section 54.751. Definitions

Section 54.752. Powers and Duties of Board Concerning Program

Section 54.753. Prepaid Tuition Units: Purchase; Assigned Value; Types; Price

Section 54.754. Redemption of Tuition Units

Section 54.755. Prepaid Tuition Contract

Section 54.756. Purchaser; Beneficiary

Section 54.757. Contract Payment

Section 54.758. Deferred Use of Prepaid Credit Hours

Section 54.759. Change of Beneficiary

Section 54.760. Verification Under Oath

Section 54.761. Promise or Guarantee of Admission

Section 54.762. Contract Termination

Section 54.763. Refund

Section 54.764. Fund

Section 54.765. Comptroller's Duties; Transfers to Institutions on Redemption of Tuition Units

Section 54.766. Investment of Fund Assets

Section 54.767. Use of Fund Assets

Section 54.7671. Transfers Among 529 Plans

Section 54.768. Exemption From Securities Laws

Section 54.769. Exemption From Creditors' Claims

Section 54.770. Actuarial Soundness of Fund

Section 54.771. Compliance With Limits on Contributions and Withdrawals

Section 54.772. Tax Exempt Status Requirements

Section 54.773. Suspension of New Enrollment; Program Modification or Termination

Section 54.774. Effect of Program Termination on Contract

Section 54.775. Confidentiality

Section 54.776. Statement Regarding Status of Prepaid Tuition Contract

Section 54.777. Information Required for Annual Report

Section 54.778. Audit