HB 1533

1	A bill to be entitled
2	An act relating to student financial assistance; creating
3	s. 1009.893, F.S.; creating the Sure Futures Postgraduate
4	Scholarship Program to match private sector businesses
5	that need employees who have advanced degrees with
6	students who are seeking advanced degrees and employment;
7	establishing the Sure Futures Foundation and a foundation
8	board to administer the program; providing membership and
9	duties of the foundation board; providing criteria for
10	student and corporate partner participation in the
11	program; providing that corporate partners shall donate
12	funds for scholarships and receive tax credits for amounts
13	donated; providing restrictions on tax credits; providing
14	for scholarship conversion to a low-interest loan if
15	certain student or employee obligations are not met;
16	providing duties of the Department of Education and state
17	universities; providing an effective date.
18
19	Be It Enacted by the Legislature of the State of Florida:
20
21	Section 1.  Section 1009.893, Florida Statutes, is created
22	to read:
23	1009.893  Sure Futures Postgraduate Scholarship
24	Program.--The Sure Futures Postgraduate Scholarship Program is
25	created to establish a scholarship program to match private
26	sector businesses that need employees who have advanced degrees
27	with students who are seeking both advanced degrees and
28	employment. The goals of the program are to provide for a better
29	educated workforce by offering students greater access to
30	advanced degrees and to recruit and retain Florida's best and
31	brightest graduate students by offering them comprehensive
32	financial assistance and employment.
33	(1)  The Sure Futures Foundation is established and shall
34	seek s. 501(c)(3) Internal Revenue Code designation. The
35	foundation shall be governed by the Sure Futures Foundation
36	Board which shall administer the Sure Futures Postgraduate
37	Scholarship Program with guidance from the Board of Governors
38	and the State Board of Education. Duties of the foundation board
39	shall include, but not be limited to, adoption of policies and
40	procedures for implementation of the program, approval of
41	corporate partners and their scholarship criteria, and
42	establishment of a process for approval of printed materials,
43	marketing, and advertising. The foundation board shall be
44	comprised of the following members:
45	(a)  The Commissioner of Education as an ex officio member.
46	(b)  The Chair of the Board of Governors as an ex officio
47	member.
48	(c)  Four state university presidents selected by the State
49	University Presidents Association to serve 2-year terms.
50	(d)  Four corporate partners participating in the program,
51	recommended by the Commissioner of Education and selected by the
52	Governor, to serve 2-year terms.
53	(e)  One graduate student recommended by the Commissioner
54	of Education and selected by the Governor to serve a 1-year
55	term.
56
57	The Commissioner of Education, the Chair of the Board of
58	Governors, the university presidents, and the corporate partners
59	may designate a specific individual to represent them at board
60	meetings.
61	(2)(a)  The following students are eligible to obtain a
62	list of Florida corporate partners and the graduate degree
63	programs for which the partners are seeking candidates:
64	1.  A student in his or her senior year who is an
65	undergraduate student at a state university.
66	2.  A student in his or her senior year who is an
67	undergraduate student at an out-of-state university but who
68	would otherwise qualify as a resident for purposes of in-state
69	tuition.
70	3.  A graduate of a state university who intends to pursue
71	a graduate degree program at a state university.
72	(b)  A student shall apply through the program to each
73	individual corporate partner using a standard application form.
74	A predetermined limit shall be established for the maximum
75	number of applications a student may submit in a given
76	scholarship cycle.
77	(c)  After the initial candidate screening and interview
78	phase, a student selected by a corporate partner shall sign a
79	contract agreeing to borrow scholarship funds through the
80	program, with a waiver of payment provision if a 4-year
81	employment obligation is completed. The scholarship shall cover
82	tuition, fees, and books for the degree program and room and
83	board based on the university dormitory and meal plan rate for
84	each year the student is enrolled full time as a graduate
85	student.
86	(d)  A student must maintain a minimum grade point average
87	as determined by the corporate partner.
88	(e)  If a student is unable to take a full course load
89	during a summer semester, the student may be required by the
90	corporate partner to participate in an internship program.
91	(f)  Upon graduation with an advanced degree, a graduate
92	shall begin working for the corporate partner and must remain
93	employed by the partner for a minimum of 4 years as stipulated
94	in the contract.
95	(g)  If a student fails to maintain the required grade
96	point average or the graduate terminates his or her employment
97	before completing the 4-year obligation, a prorated portion of
98	the scholarship shall convert to a low-interest loan.
99	(3)(a)  A corporate partner that desires new employees who
100	have advanced degrees shall donate funds to the program in
101	amounts equal to the scholarship funds necessary for completion
102	of a degree program from which it wishes to draw students.
103	Donations may be made in one lump sum or on an annual basis.
104	(b)  A corporate partner may establish criteria, including,
105	but not limited to, the degree sought and minimum grade point
106	average and extracurricular activity requirements.
107	(c)  A corporate partner may select the state universities
108	at which students may enroll or it may allow its scholarships to
109	be available for study at any state university.
110	(d)  A corporate partner shall get a credit on its
111	corporate income tax equal to the amount of the donation. For
112	the first 2 years of the program, the total tax credits
113	available to corporate partners shall be limited to $10 million
114	per year, minus the costs associated with administering the
115	program. Beginning with the third year of the program, as more
116	corporate partners participate, the total tax credits available
117	to corporate partners shall be increased. Beginning with the
118	sixth year of the program, a tax credit shall be 75 percent of a
119	donation and, beginning with the eleventh year of the program, a
120	tax credit shall be 50 percent of a donation.
121	(e)  If a corporate partner terminates an employee for
122	reasons other than malfeasance, misfeasance, or nonfeasance
123	prior to the employee's completion of the 4-year obligation, the
124	employee shall not be required to repay the scholarship. A
125	corporate partner is encouraged to establish protocols to retain
126	an employee prior to his or her termination.
127	(4)(a)  The Division of Colleges and Universities of the
128	Department of Education shall establish a central database of
129	corporate partners, the graduate degree programs for which the
130	partners are seeking candidates, and student applicants and
131	their profiles. The division shall establish a standard
132	application for use by all state universities.
133	(b)  On an annual basis, the department shall establish the
134	amount necessary to cover the costs for degree programs for
135	which corporate partners may make donations and receive tax
136	credits.
137	(5)  Prepared documentation regarding the program shall be
138	made available through the appropriate office at each
139	university. As deemed appropriate by a university's
140	administration, a university may provide additional information
141	or activities, such as providing one-on-one discussions with
142	advisors, conducting seminars on the program, or working with
143	companies in its service area to create scholarships through the
144	program.
145	(6)  State agencies, local workforce boards, chambers of
146	commerce, and Enterprise Florida, Inc., shall be encouraged to
147	promote corporate partner and student participation in the
148	program.
149	Section 2.  This act shall take effect July 1, 2005.

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