Florida Senate - 2005 COMMITTEE AMENDMENT
Bill No. SB 1162
Barcode 522588
CHAMBER ACTION
Senate House
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11 The Committee on Governmental Oversight and Productivity
12 (Alexander) recommended the following amendment:
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14 Senate Amendment (with title amendment)
15 On page 1, lines 10 and 11, delete those lines
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17 and insert:
18 Section 1. Subsections (3) and (8) of section 1009.98,
19 Florida Statutes, are amended to read:
20 1009.98 Florida Prepaid College Program.--
21 (3) TRANSFER OF BENEFITS TO PRIVATE AND OUT-OF-STATE
22 COLLEGES AND UNIVERSITIES AND TO CAREER CENTERS.--A qualified
23 beneficiary may apply the benefits of an advance payment
24 contract toward:
25 (a) An independent college or university that is
26 located and chartered in Florida, that is not for profit, that
27 is accredited by the Commission on Colleges of the Southern
28 Association of Colleges and Schools or the Accrediting Council
29 for Independent Colleges and Schools, and that confers degrees
30 as defined in s. 1005.02.
31 (b) An out-of-state college or university that is not
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Florida Senate - 2005 COMMITTEE AMENDMENT
Bill No. SB 1162
Barcode 522588
1 for profit and is accredited by a regional accrediting
2 association, and that confers degrees.
3 (c) An applied technology diploma program or career
4 certificate program conducted by a community college listed in
5 s. 1004.02(2) or career center operated by a district school
6 board.
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8 The board shall transfer or cause to be transferred to the
9 institution designated by the qualified beneficiary an amount
10 not to exceed the redemption value of the advance payment
11 contract at a state postsecondary institution. If the cost of
12 registration or housing fees at such institution is less than
13 the corresponding fees at a state postsecondary institution,
14 the amount transferred may not exceed the actual cost of
15 registration and housing fees. A transfer authorized under
16 this subsection may not exceed the number of semester credit
17 hours or semesters of dormitory residence contracted on behalf
18 of a qualified beneficiary. The board may refuse to transfer
19 the benefits of an advance payment contract to an otherwise
20 eligible institution if the institution or its representatives
21 distribute materials, regardless of form, which describe the
22 use or transfer of the benefits of an advance payment contract
23 and which have not been approved by the board. Notwithstanding
24 any other provision in this section, an institution must be an
25 "eligible educational institution" under s. 529 of the
26 Internal Revenue Code to be eligible for the transfer of
27 advance payment contract benefits.
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30 ================ T I T L E A M E N D M E N T ===============
31 And the title is amended as follows:
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Florida Senate - 2005 COMMITTEE AMENDMENT
Bill No. SB 1162
Barcode 522588
1 On page 1, line 3, after the second semicolon,
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3 insert:
4 deleting the requirement that an independent
5 college or university be a not-for-profit
6 institution to be eligible for a transfer of
7 benefits; providing a restriction on the
8 transfer of benefits;
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