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June 22, 2021
Personal Finance

My 5 Cents: Senate Invoice 1063 would permit college students to take private finance class – Orange Chief

District 3 State Senator
Robert Nichols

On the finish of this week, we’ll solely have three weeks left on this 12 months’s legislative session. These final three weeks are among the most intense weeks, with lengthy hours and many payments to learn. Plenty of deadlines start to crop up throughout this time. For instance, Might twenty sixth is the final day for the Senate to think about all payments and joint resolutions, whether or not they originated within the Home or Senate. We adjourn Sine Die, the final day of session, on Might thirty first.

Listed below are 5 issues occurring round your state:

  1. Comptroller releases replace to Biennial Income Estimate

This week, Texas Comptroller Glenn Hegar launched an up to date projection of the state funds obtainable for the present biennium and the subsequent biennium. Each estimates elevated, with the present biennium ending with an added $725 million and the subsequent with an added $3 billion. The $3 billion improve for the subsequent biennium’s price range brings it to a complete of $116 billion obtainable. These estimates don’t embody any federal funds obtainable to the state, together with any of the federal coronavirus reduction funds despatched to Texas. We’re at present laborious at work hammering out the small print of subsequent biennium’s price range and shoring up the ultimate touches on the present biennium’s price range. The Comptroller’s preliminary estimate in January for this biennium had the state struggling a $1 billion shortfall because of the COVID-19 pandemic. So, the up to date estimates are welcome information.

  1. Senate sends prescription drug worth transparency invoice to Governor’s desk

The Texas Senate voted unanimously to move Home Invoice 1033 this week. Senator Kelly Hancock sponsored the laws that might defend customers from unhealthy actors searching for to obscure prescription drug costs or improve costs for life-saving remedy. This invoice requires pharmaceutical firms to report the price of pharmaceuticals, together with the analysis and improvement prices, to the Texas Division of State Well being Companies yearly. Producers that don’t comply will obtain a penalty.

  1. Senate Decision asking PUC to lower cost caps passes Senate

This week the Texas Senate handed Senator Schwertner’s decision that asks the Public Utility Fee to considerably scale back the excessive system-wide provide cap and consider modifications to the market construction. Many Texans obtained large electrical energy payments after Winter Storm Uri hit. That was because of the PUC issuing an order directing ERCOT to begin utilizing the excessive system-wide provide cap that raised the cap for vitality costs to $9,000 per megawatt hour. This was the very best worth cap within the nation and it remained in place for 4 days. Utilities and retail electrical suppliers had been charged at that charge and face billions of {dollars} in fees after the storm. In an effort to keep away from future conditions which will produce the identical outcomes, the Senate is urging the PUC to cut back the max charge that utilities and retail electrical suppliers may be charged throughout a excessive system-wide provide cap.

  1. Senate passes Home Invoice 139 to assist navy spouses, veterans

When lively responsibility navy and their households transfer to one of many many bases in Texas, their spouses can have a tough time transitioning their occupational licenses from out of state. One such barrier is a few licenses require the licensee to be a resident of the state of Texas. Home Invoice 139 seeks to assist navy spouses by expediting the method for them to accumulate Texas residency for functions of accomplishing an occupational license or educator certification. This provision may also apply to any navy veterans who’ve not too long ago moved to Texas and wish their residency expedited to get an license.

  1. Senate Invoice 1063 would permit college students to take private finance class

At present, highschool college students are required to take an economics course, however that course doesn’t sometimes cowl private monetary planning or monetary literacy. This session Senator Alvarado launched laws that might change that. Senate Invoice 1063 would permit college districts to supply and highschool college students to take a hybrid course that might encompass each economics and private monetary literacy. College students taking this course would fulfill the present economics credit score requirement. This course would train college students about cash, investing, securing wealth, and navigating different vital monetary issues. Many college students graduate with out an understanding of what investing means or what credit score is or the way it works. This class would give college students the liberty monetary literacy brings and empower them to be financially impartial after commencement. Senate Invoice 1063 handed the Senate unanimously and is at present working it’s manner via the Home.

Robert Nichols is the Republican Senator for the third District within the Texas Senate.


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