TX SB1701

Creates the Health Care Professional Education Fund, held outside the state treasury by the comptroller and administered by the Texas Treasury Safekeeping Trust Company, to increase production of health care professional degrees at Texas universities

Eligible institutions include general academic teaching institutions designated as comprehensive, doctoral, or master's universities that awarded health care professional degrees in the preceding fiscal year

Allocates 95% of annual fund distributions to a permanent endowment based on degrees awarded (bachelor's degrees counted at 1x, master's at 3x, doctoral at 6x), with no single institution or university system receiving more than 25% of annual distributions

Allocates 5% to a startup fund administered by the coordinating board to award grants for new or expanded health care professional degree programs

Permitted uses include increasing enrollment capacity, faculty salaries, equipment purchases, loan repayment guarantees for graduate students who commit to teaching in Texas for four years, and clinical facility investments

Takes effect September 1, 2026, contingent on voter approval of a constitutional amendment establishing the Texas Health Care Workforce Education Fund