| (a) Except as provided in subsection (c) of this section, each enrollment period shall begin and end on dates set annually by the board and published in the Texas Register. The official postmark date affixed by the United States Postal Service or date stamp evidencing actual receipt of the application at the address specified as follows, whichever is earlier, shall be considered the date of receipt of an application for purposes of the enrollment period. Applications may be mailed to the following address: Prepaid Higher Education Tuition Program, Office of the Comptroller of Public Accounts, P.O. Box 13407, Austin, Texas 78711-3407. In the alternative applications may be delivered to the following address: 111 East 17th Street, Room 1114, Austin, Texas 78774-0001. (b) The board reserves the right to limit or suspend enrollment if necessary to ensure the actuarial soundness of the fund. (c) An extended enrollment period for beneficiaries classified as "newborns" may be established by the Board on an annual basis. (d) In each year that new enrollment in the program is temporarily suspended under Education Code, §54.619(j), the board shall determine whether to reopen new enrollment in the program based on the following criteria: the sufficiency of available alternatives for college savings offered by the state, whether analysis of actuarial data shows that new enrollment in the program may be reopened in an actuarially sound manner, and any other relevant criteria. The board may reopen the program to new enrollment if it determines that the alternatives for college savings offered by the state do not offer Texans sufficient help to attain a college education, and that the program could be reopened in an actuarially sound manner. In each year that new enrollment in the program remains closed, the board shall consider the current structure of the program and determine whether statutory or administrative changes are needed to enable the board to reopen the program to new enrollment in an actuarially sound manner. |
| Source Note: The provisions of this §7.42 adopted to be effective January 8, 1996, 20 TexReg 11124; amended to be effective November 15, 1996, 21 TexReg 10886; amended to be effective January 3, 1999, 23 TexReg 13103; amended to be effective August 27, 2008, 33 TexReg 6956 |
