Senate Bill sb1724

    Florida Senate - 2004                                  SB 1724

    By Senator Wise





    5-1459-04                                           See HB 341

  1                      A bill to be entitled

  2         An act relating to student financial

  3         assistance; providing legislative intent to

  4         expand access to postsecondary education and

  5         reduce student indebtedness; requiring each

  6         state university and community college to

  7         report information relating to certain funds

  8         used to provide financial assistance to certain

  9         students; prohibiting the use of such funds to

10         provide financial assistance to specified

11         foreign students; providing for the redirection

12         of funds to provide additional need-based

13         financial assistance to students classified as

14         residents for tuition purposes; requiring

15         annual state university and community college

16         reporting; providing an effective date.

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18  Be It Enacted by the Legislature of the State of Florida:

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20         Section 1.  (1)  It is the intent of the Legislature to

21  use a portion of the state's limited resources to expand

22  access to postsecondary education and to reduce student

23  indebtedness by increasing need-based financial assistance for

24  Florida residents. Expanding access and increasing financial

25  assistance will encourage Florida residents to pursue

26  postsecondary education, which will produce economic benefits

27  for the state by increasing the levels of higher educational

28  attainment and earning potential of Florida's citizenry.

29         (2)  By December 31, 2004, each state university and

30  community college shall report to the President of the Senate

31  and the Speaker of the House of Representatives:

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






    Florida Senate - 2004                                  SB 1724
    5-1459-04                                           See HB 341




 1         (a)  The total amount of state funds appropriated

 2  directly or indirectly to the institution and tuition and fee

 3  revenues generated by Florida residents which was used to

 4  provide financial assistance during the 2002-2003 academic

 5  year to students holding F-1 or M-1 visas.

 6         (b)  The total amount of state funds appropriated

 7  directly or indirectly to the institution and tuition and fee

 8  revenues generated by Florida residents which was used to

 9  provide need-based financial assistance during the 2002-2003

10  academic year to students classified as residents for tuition

11  purposes pursuant to section 1009.21, Florida Statutes.

12         (3)  Effective for the 2005-2006 academic year and each

13  year thereafter:

14         (a)  A public postsecondary educational institution

15  shall not use state funds appropriated directly or indirectly

16  to the institution or tuition or fee revenues generated by

17  Florida residents to provide financial assistance to any

18  student holding an F-1 or M-1 visa.

19         (b)  The amount of funds reported pursuant to paragraph

20  (2)(a) shall be used by an institution to provide additional

21  need-based financial assistance to students classified as

22  residents for tuition purposes pursuant to section 1009.21,

23  Florida Statutes. If the unmet need for Florida residents is

24  fully satisfied without reliance on loans, any remaining funds

25  shall be used to provide merit-based financial assistance to

26  students classified as residents for tuition purposes.

27         (4)  Funds redirected pursuant to this section shall be

28  additional funds for need-based financial assistance for

29  Florida residents and shall not be used to reduce or supplant

30  the level of funding for need-based financial assistance for

31  resident students as reported pursuant to paragraph (2)(b).

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






    Florida Senate - 2004                                  SB 1724
    5-1459-04                                           See HB 341




 1         (5)  For purposes of this section, financial assistance

 2  does not include compensation paid to students for

 3  assistantships or participation in work-study programs.

 4         (6)  Each state university and community college shall

 5  report to the President of the Senate and the Speaker of the

 6  House of Representatives by July 1, 2006, and annually

 7  thereafter on the number of Florida residents benefiting from

 8  the use of financial assistance provided from the funds

 9  redirected pursuant to this section.

10         Section 2.  This act shall take effect July 1, 2004.

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