Texas Education Code 61.9826 – Reallocation of Money
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(a) In each state fiscal year, the board shall reallocate for loan repayment assistance under this subchapter for a particular year any money in the physician education loan repayment program account established under § 61.5391 that exceeds the amount necessary in that fiscal year for purposes of repayment assistance under Subchapter J.
(b) Any money reallocated under Subsection (a) in a fiscal year that is not used for loan repayment assistance under this subchapter in that fiscal year is treated as if that unused amount had not been reallocated in that fiscal year.
Terms Used In Texas Education Code 61.9826
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Year: means 12 consecutive months. See Texas Government Code 311.005