Florida Senate - 2005 COMMITTEE AMENDMENT
Bill No. CS for SB 2
Barcode 974296
CHAMBER ACTION
Senate House
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11 The Committee on Government Efficiency Appropriations (Posey)
12 recommended the following amendment:
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14 Senate Amendment (with title amendment)
15 On page 17, line 14, through
16 page 18, line 6, delete those lines
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18 and insert:
19 1.(a) Demonstrate fiscal soundness by:
20 a. Filing with being in operation for 1 school year or
21 provide the Department of Education with a surety bond for the
22 amount equal to the scholarship amount for each quarter of the
23 school year. The purpose of the surety bond is to secure
24 expenditures of scholarship funds if such funds are found to
25 have been used for unlawful purposes. The surety bond must be
26 filed at the time of the private school's initial registration
27 and at each renewal period thereafter for a total of 3
28 consecutive years; or
29 b. Providing evidence to the Department of Education
30 that:
31 (I) The private school has been in continuous
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Florida Senate - 2005 COMMITTEE AMENDMENT
Bill No. CS for SB 2
Barcode 974296
1 operation for the immediately preceding 3 years as a Florida
2 private school as defined in s. 1002.01(2);
3 (II) The private school has registered for the
4 immediately preceding 3 years with the Department of Education
5 pursuant to s. 1002.42 and has complied with all provisions of
6 that section;
7 (III) The private school is not subject to any civil
8 penalties or fines for violations of any state or local laws,
9 rules, or codes related to the health, safety, or welfare of
10 students;
11 (IV) The private school has, for the immediately
12 preceding year, a completed financial audit by an independent
13 certified public accountant confirming that the private school
14 desiring to participate is insured and the owner or owners
15 have sufficient capital or credit to operate the school for
16 the upcoming year serving the number of students anticipated
17 with expected revenues from tuition and other sources that may
18 be reasonably expected; and
19 (V) The owner has not in the immediately preceding 7
20 years filed for personal bankruptcy or owned 20 percent or
21 more of a corporation that filed for corporate bankruptcy in
22 the immediately preceding 7 years.
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24 The requirements in subparagraph a. and b. do not apply to an
25 eligible private school that participates in the program for a
26 total of 3 consecutive years or longer and has had no action
27 taken by the Department of Education against the private
28 school for any violation of this section for 3 consecutive
29 years or longer.
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31 However, any private school that was subject to an action
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Florida Senate - 2005 COMMITTEE AMENDMENT
Bill No. CS for SB 2
Barcode 974296
1 taken by the department for any violation of this section
2 shall, following the date on which the action was taken
3 against the private school for a violation of this section,
4 but prior to receiving the next quarterly payment and for 1
5 year thereafter, file a surety bond with the department.
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8 ================ T I T L E A M E N D M E N T ===============
9 And the title is amended as follows:
10 On page 1, line 30, delete that line
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12 and insert:
13 fiscal soundness; requiring a surety bond or
14 other evidence of fiscal soundness;
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