Amendment
Bill No. 0002
Amendment No. 898729
CHAMBER ACTION
Senate House
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1Representative(s) Pickens offered the following:
2
3     Amendment to Amendment (092171)
4Remove line(s) 713-715 and insert:
5     (k)  With the prior approval of the Department of
6Education, may transfer funds to another eligible nonprofit
7scholarship-funding organization if additional funds are
8required to meet scholarship demand at the receiving nonprofit
9scholarship-funding organization. A transfer shall be limited to
10the greater of $500,000 or 20 percent of the total contributions
11received by the nonprofit scholarship-funding organization
12making the transfer. All transferred funds must be deposited by
13the receiving nonprofit scholarship-funding organization into
14its scholarship accounts. All transferred amounts received by
15any nonprofit scholarship-funding organization must be
16separately disclosed in the annual financial and compliance
17audit required in this section.


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