(a) The board, in cooperation with the program entity, administers the Texas Save and Match Program, under which money contributed to a savings trust account by an account owner or paid by a purchaser under a prepaid tuition contract on behalf of an eligible beneficiary may be matched with:
  (1) contributions made by any person to the program entity for use in making additional savings trust account contributions for a beneficiary or in purchasing additional tuition units for a beneficiary under a prepaid tuition contract; or
  (2) money appropriated by the legislature for the program or received under Education Code, §54.802(a)(7) to be used by the board to make additional savings trust account contributions for a beneficiary or to purchase additional tuition units for a beneficiary under a prepaid tuition contract.
(b) The program entity may select recipients of match accounts awarded under subsection (a)(1) of this section. The board may select recipients of match accounts awarded under subsection (a)(2) of this section.

Source Note: The provisions of this §7.163 adopted to be effective July 1, 2012, 37 TexReg 4599