Texas Education Code - EDUC § 56.226. Payment of State Credit

(a) At least once each year, the coordinating board shall submit to the commissioner of education a report on state credit awarded under the program during the preceding academic year. The report must include:

(b) As soon as practicable after receipt of the report under Subsection (a), the commissioner of education shall transfer to the coordinating board an amount of funds equal to the total amount by which school district and open-enrollment charter school entitlements are reduced under Section 48.2642(b).

(c) As soon as practicable after receipt of funds transferred under Subsection (b), the coordinating board shall distribute to each eligible institution an amount of funds equal to the amount of state credit applied by the institution under Section 56.225 during the preceding academic year.