Tex. Educ. Code § 54.804 · Subchapter I. TEXAS SAVE AND MATCH PROGRAM
LIMITATIONS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
A matching account established by the board or program entity on behalf of a beneficiary under this subchapter is forfeited and reverts to the board or program entity on the occurrence of any of the following:
(1) the 10th anniversary of the date the beneficiary is projected to graduate from high school, as indicated by the purchaser in the enrollment contract, except that time spent by the beneficiary as an active duty member of the United States armed services tolls the period described by this subdivision;
(2) a change of beneficiary by the account owner or purchaser of the matched account;
(3) a contract cancellation of the matched account and refund request;
(4) the successful completion by the beneficiary of an associate or bachelor's degree program;
(5) transfer of the matched account to another qualified tuition program of any state that meets the requirements of Section 529, Internal Revenue Code of 1986; or
(6) any other event the board or program entity determines would be inconsistent with the program's purposes.
Notes and commentary — not statutory text
History
Added by Acts 2011, 82nd Leg., R.S., Ch. 1186 (H.B. 3708), Sec. 3, eff. June 17, 2011.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/ED/htm/ED.54.htm
- Text hash
- sha256 77a6f3aad250b5a3532dc40f487076406e2004fc522fe275e54e4f4b05fd8364
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.