CODING: Words stricken are deletions; words underlined are additions.





                                                  SENATE AMENDMENT

    Bill No. CS for SB 2456

    Amendment No.    

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11  Senator Sullivan moved the following amendment:

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13         Senate Amendment (with title amendment) 

14         On page 12, between lines 24 and 25,

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16  insert:

17         Section 6.  Section 240.2605, Florida Statutes, is

18  amended to read:

19         240.2605  Trust Fund for Major Gifts.--

20         (1)  There is established a Trust Fund for Major Gifts.

21  The purpose of the trust fund is to enable the Board of

22  Regents Foundation, each university, and New College to

23  provide donors with an incentive in the form of matching

24  grants for donations for the establishment of permanent

25  endowments, which must be invested, with the proceeds of the

26  investment used to support libraries and instruction and

27  research programs, as defined by procedure of the Board of

28  Regents. All funds appropriated for the challenge grants, new

29  donors, major gifts, or eminent scholars program must be

30  deposited into the trust fund and invested pursuant to s.

31  18.125 until the Board of Regents allocates the funds to

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                                                  SENATE AMENDMENT

    Bill No. CS for SB 2456

    Amendment No.    





 1  universities to match private donations. Notwithstanding s.

 2  216.301 and pursuant to s. 216.351, any undisbursed balance

 3  remaining in the trust fund and interest income accruing to

 4  the portion of the trust fund which is not matched and

 5  distributed to universities must remain in the trust fund and

 6  be used to increase the total funds available for challenge

 7  grants. The Board of Regents may authorize any university to

 8  encumber the state matching portion of a challenge grant from

 9  funds available under s. 240.272.

10         (2)  The Board of Regents shall specify the process for

11  submission, documentation, and approval of requests for

12  matching funds, accountability for endowments and proceeds of

13  endowments, allocations to universities, restrictions on the

14  use of the proceeds from endowments, and criteria used in

15  determining the value of donations.

16         (3)(a)  The Board of Regents shall allocate the amount

17  appropriated to the trust fund to the Board of Regents

18  Foundation, each university, and New College based on the

19  amount of the donation and the restrictions applied to the

20  donation.

21         (b)  Donations for a specific purpose must be matched

22  in the following manner:

23         1.  The Board of Regents Foundation and each university

24  that raises at least $100,000 but no more than $999,999

25  $599,999 from a private source must receive a matching grant

26  equal to 50 percent of the private contribution.

27         2.  The Board of Regents Foundation and each university

28  that raises a contribution of at least $600,000 but no more

29  than $1 million from a private source must receive a matching

30  grant equal to 70 percent of the private contribution.

31         2.3.  The Board of Regents Foundation and each

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                                                  SENATE AMENDMENT

    Bill No. CS for SB 2456

    Amendment No.    





 1  university that raises a contribution equal to or in excess of

 2  $1 million but no more than $2,999,999 $1.5 million from a

 3  private source must receive a matching grant equal to 60 75

 4  percent of the private contribution.

 5         4.  The Board of Regents Foundation and each university

 6  that raises a contribution in excess of $1.5 million but no

 7  more than $2 million from a private source must receive a

 8  matching grant equal to 80 percent of the private

 9  contribution.

10         3.5.  The Board of Regents Foundation and each

11  university that raises a contribution equal to or in excess of

12  $3 $2 million from a private source must receive a matching

13  grant equal to 85 100 percent of the private contribution.

14         4.  The maximum amount of matching funds which may be

15  used to match a single gift in any given year is $3 million.

16  The maximum total amount of matching funds which may be used

17  to match any single gift is $15 million, to be distributed in

18  equal amounts of $3 million per year over a period of 5 years,

19  subject to the availability of funds.

20         (c)  Notwithstanding subparagraphs (b)1.-3., if a

21  university seeking matching funds under this section and a

22  community college seeking matching funds under s. 240.36

23  jointly endow a two-plus-two scholarship, the university shall

24  receive matching funds on the same basis as the community

25  college under s. 240.36(3). To be eligible for matching funds

26  under this paragraph, the notification of receipt and deposit

27  of private contributions for such purpose must be submitted

28  jointly by a community college and a state university in

29  increments of $50,000, consisting of $30,000 to the university

30  from a single donor and $20,000 to the community college, with

31  a maximum of 50 scholarships per year being eligible for a

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                                                  SENATE AMENDMENT

    Bill No. CS for SB 2456

    Amendment No.    





 1  match. Five scholarships per year shall be reserved for each

 2  state university until March 1, at which time any unmatched

 3  funds shall be made available to universities and community

 4  colleges under procedures established by the Board of Regents

 5  and the State Board of Community Colleges.

 6         (c)  The Board of Regents shall encumber state matching

 7  funds for any pledged contributions, pro rata, based on the

 8  requirements for state matching funds as specified for the

 9  particular challenge grant and the amount of the private

10  donations actually received by the university or Board of

11  Regents Foundation for the respective challenge grant.

12         (4)  Matching funds may be provided for contributions

13  encumbered or pledged under the Florida Endowment Trust Fund

14  for Eminent Scholars Act prior to July 1, 1994, and for

15  donations or pledges of any amount equal to or in excess of

16  the prescribed minimums which are pledged for the purpose of

17  this section.

18         (5)(a)  The Board of Regents Foundation, each

19  university foundation, and New College Foundation shall

20  establish a challenge grant account for each challenge grant

21  as a depository for private contributions and state matching

22  funds to be administered on behalf of the Board of Regents,

23  the university, or New College. State matching funds must be

24  transferred to a university foundation or New College

25  Foundation upon notification that the university or New

26  College has received and deposited the amount specified in

27  this section in a foundation challenge grant account.

28         (b)  The foundation serving a university and New

29  College Foundation each has the responsibility for the

30  maintenance and investment of its challenge grant account and

31  for the administration of the program on behalf of the

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                                                  SENATE AMENDMENT

    Bill No. CS for SB 2456

    Amendment No.    





 1  university or New College, pursuant to procedures specified by

 2  the Board of Regents. Each foundation shall include in its

 3  annual report to the Board of Regents information concerning

 4  collection and investment of matching gifts and donations and

 5  investment of the account.

 6         (c)  A donation of at least $600,000 and associated

 7  state matching funds may be used to designate an Eminent

 8  Scholar Endowed Chair pursuant to procedures specified by the

 9  Board of Regents.

10         (6)  The donations, state matching funds, or proceeds

11  from endowments established under this section may not be

12  expended for the construction, renovation, or maintenance of

13  facilities or for the support of intercollegiate athletics.

14         (7)  The Board of Regents Foundation may participate in

15  the same manner as a university foundation with regard to the

16  provisions of this section.

17         (8)  For challenge grants for which state matching

18  funds are requested Notwithstanding other provisions of this

19  section, for the 1999-2000 fiscal year only, for gifts

20  received during this period, the university presidents shall

21  annually provide a list to the Board of Regents of donations

22  from private donors for challenge grants, new donations, major

23  gifts, and the eminent scholars program to be matched for the

24  1999-2000 fiscal year to the Board of Regents. The listing

25  shall include, but need not be limited to, contain an

26  explanation of the donation, a statement of the specific

27  benefits accrued to the university as a result of the

28  donation, and how the donation is consistent with the mission

29  of the institution, as defined by the Board of Regents in its

30  most recent the 1998-2003 Strategic Plan. The Board of Regents

31  shall submit a report to the President of the Senate, the

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                                                  SENATE AMENDMENT

    Bill No. CS for SB 2456

    Amendment No.    





 1  Speaker of the House of Representatives, and the Governor by

 2  January 15 of each year. The report, developed in consultation

 3  with the Legislature, must include, but not be limited to, the

 4  annual listing described in this subsection as well as

 5  information regarding the expenditure of the proceeds of the

 6  endowments for the previous year. University presidents shall

 7  rank each private donation to their university, giving highest

 8  priority to private donations that provide additional library

 9  resources to universities; donations that provide student

10  assistance through scholarships, fellowships, or

11  assistantships; donations that provide funding for existing

12  academic programs at universities; and donations that meet the

13  matching requirement without encumbering pledges. The Board of

14  Regents, using the same criteria, shall develop a systemwide

15  priority list and may set restrictions on the annual amount of

16  matching funds provided for single donations that exceed $5

17  million.

18         Section 7.  Present subsections (7) through (11) of

19  section 240.2601, Florida Statutes, are redesignated as

20  subsections (8) through (11), respectively, and a new

21  subsection (7) is added to that section to read:

22         240.2601  State University System Facility Enhancement

23  Challenge Grant Program.--

24         (7)  For challenge grants for which state matching is

25  being requested, university presidents shall provide to the

26  Board of Regents a list of donations received from private

27  donors for the State University System Facility Enhancement

28  Challenge Grant Program. This listing shall contain an

29  explanation of the donation, a statement of the specific

30  benefits accrued to the university as a result of the

31  donation, and the projected cost to the state for the

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                                                  SENATE AMENDMENT

    Bill No. CS for SB 2456

    Amendment No.    





 1  operation and maintenance of the facility. The Board of

 2  Regents shall review and rank each private donation, giving

 3  highest priority to private donations that provide the

 4  financial resources for major renovations to existing

 5  facilities, particularly instructional facilities, and new

 6  space requirements as identified by the space utilization

 7  model. The listing shall be submitted by August 1 of each

 8  year.

 9         Section 8.  Donations received before July 1, 2000,

10  shall be matched at the percentage level in effect on the date

11  the gift was received. Any gift agreements signed and received

12  by July 1, 1999, which were approved for payment over a period

13  of up to 5 years are eligible for the level of match in effect

14  when the agreement was received and initial payment was made.

15

16  (Redesignate subsequent sections.)

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18

19  ================ T I T L E   A M E N D M E N T ===============

20  And the title is amended as follows:

21         On page 2, line 1, after the semicolon,

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23  insert:

24         amending s. 240.2605, F.S.; rescinding a

25         provision that allows the Board of Regents to

26         authorize a university to encumber the state

27         matching portion of a challenge grant from

28         funds available under s. 240.272, F.S.;

29         revising provisions that prescribe the manner

30         in which donations from the trust fund must be

31         matched; providing the maximum yearly amount

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                                                  SENATE AMENDMENT

    Bill No. CS for SB 2456

    Amendment No.    





 1         and the maximum total amount of matching funds

 2         which may be used to match a single gift;

 3         repealing an obsolete provision; amending s.

 4         240.2601, F.S.; requiring a report to the Board

 5         of Regents and a priority list; providing for

 6         donations received prior to a specified date;

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