Florida Senate - 2015                        COMMITTEE AMENDMENT
       Bill No. PCS (104334) for SB 602
       
       
       
       
       
       
                                Ì365936JÎ365936                         
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                  Comm: RCS            .                                
                  03/26/2015           .                                
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       The Committee on Appropriations (Gaetz) recommended the
       following:
       
    1         Senate Amendment to Amendment (912564) 
    2  
    3         Delete lines 1185 - 1220
    4  and insert:
    5  qualified beneficiary may not be changed while a prepaid college
    6  plan contains funds contributed from s. 1002.385.
    7         (b) A qualified beneficiary may apply the benefits of an
    8  advance payment contract toward the program fees of a program
    9  designed for students with disabilities conducted by a state
   10  postsecondary institution. A transfer authorized under this
   11  subsection may not exceed the redemption value of the advance
   12  payment contract at a state postsecondary institution or the
   13  number of semester credit hours contracted on behalf of a
   14  qualified beneficiary.
   15         Section 6. Subsection (10) is added to section 1009.981,
   16  Florida Statutes, to read:
   17         1009.981 Florida College Savings Program.—
   18         (10) IMPLEMENTATION PROCEDURES.—
   19         (a) Notwithstanding any other provision in this section, a
   20  college savings plan may be purchased, accounted for, used, and
   21  terminated as provided in s. 1002.385. By July 1, 2015, the
   22  board shall develop procedures, contracts, and any other
   23  required forms or documentation necessary to fully implement
   24  this subsection. The board shall enter into a contract with
   25  educational fiscal intermediaries pursuant to s. 1002.385 to
   26  enable the board to establish mechanisms to implement this
   27  subsection, including, but not limited to, identifying the
   28  source of funds being deposited into a college savings plan. A
   29  designated beneficiary may not be changed while a college
   30  savings plan contains funds contributed from s. 1002.385.
   31         (b) A designated beneficiary may apply the benefits of a
   32  participation agreement toward the program fees of a program
   33  designed for students with disabilities conducted by a state
   34  postsecondary institution.