Request for Proposals for Outside Legal Counsel for the Texas Prepaid Higher Education Tuition Board

The Texas Comptroller of Public Accounts, on behalf of the Texas Prepaid Higher Education Tuition Board, is soliciting Request for Proposals (RFP No. 240n) for outside legal counsel to provide comprehensive legal services to six tuition and savings plans and programs: the Texas Guaranteed Tuition Plan, LoneStar 529 Plan, Texas College Savings Plan, Texas Tuition Promise Fund, Texas Save and Match Program, and Texas ABLE Program. The procurement requires qualified legal counsel with demonstrated expertise in federal and state securities law, municipal securities disclosure requirements, FINRA and MSRB rules, contracts, intellectual property, and fiduciary responsibility, with preferred expertise in federal taxation and federal entitlements. Respondents must submit proposed hourly rates, expense reimbursement bases, fee negotiability statements, and mechanisms for cost monitoring and billing, and must be capable of invoicing each plan or program separately, attending Board meetings in Austin, Texas, and responding quickly to varied legal requests. The evaluation will be conducted under a best value standard, with proposals weighted 80 percent on demonstrated competence, knowledge, and qualifications and 20 percent on reasonableness of proposed fees. Key deadlines include written questions due May 27, 2026, official responses posted June 1, 2026, and proposals due June 10, 2026 at 2:00 p.m. Central Time, with potential oral presentations scheduled for August 18, 2026, and contract execution targeted for August 31, 2026.

The initial contract term runs from September 1, 2026 through August 31, 2028, with two optional one-year renewal periods available at the Board's discretion through August 31, 2030, though no minimum amount of work is guaranteed. The current contractor, Michael Best & Friedrich, LLP, will conclude its service on August 31, 2026. All responding vendors must submit a completed State of Texas Subcontracting Plan as part of their bid, demonstrating good faith effort in recruiting Texas certified VetHUB (Veteran Heroes United in Business) vendors through notification with at least seven business days for response and documentation of outreach attempts. Respondents must comply with numerous state requirements including conflict of interest disclosures, verifications regarding boycotts, debarment status, and federal compliance matters, and must acknowledge that all proposals are subject to release as public information under the Texas Public Information Act unless exempted. The Board reserves the right to make multiple awards and is not obligated to award any contract. Specific award values or budget ranges are not listed in the solicitation documentation.