HB 205

1
A bill to be entitled
2An act relating to student financial assistance; providing
3legislative intent to expand access to postsecondary
4education and reduce student indebtedness; requiring each
5state university and community college to report
6information relating to certain funds used to provide
7financial assistance to certain students; prohibiting the
8use of such funds to provide financial assistance to
9specified foreign students; defining the term "eligible
10Florida resident"; providing for the redirection of funds
11to provide additional need-based financial assistance to
12eligible Florida residents; requiring a report by state
13universities and community colleges; providing an
14effective date.
15
16Be It Enacted by the Legislature of the State of Florida:
17
18     Section 1.  (1)  It is the intent of the Legislature to use
19a portion of the state's limited resources to expand access to
20postsecondary education and to reduce student indebtedness by
21increasing need-based financial assistance for Florida
22residents. Expanding access and increasing financial assistance
23will encourage Florida residents to pursue postsecondary
24education, which will produce economic benefits for the state by
25increasing the levels of higher educational attainment and
26earning potential of Florida's citizenry.
27     (2)  By December 31, 2006, each state university and
28community college shall report to the President of the Senate
29and the Speaker of the House of Representatives:
30     (a)  The total amount of state funds appropriated directly
31or indirectly to the institution and tuition and fee revenues
32generated by Florida residents that was used to provide
33financial assistance during the 2004-2005 academic year to
34students holding F-1 or M-1 visas.
35     (b)  The total amount of state funds appropriated directly
36or indirectly to the institution and tuition and fee revenues
37generated by Florida residents that was used to provide need-
38based financial assistance during the 2004-2005 academic year to
39students classified as residents for tuition purposes pursuant
40to s. 1009.21, Florida Statutes.
41     (3)  Effective for the 2007-2008 academic year and each
42year thereafter:
43     (a)  A state university or community college shall not use
44state funds appropriated directly or indirectly to the
45institution or tuition or fee revenues generated by Florida
46residents to provide financial assistance to any student holding
47an F-1 or M-1 visa.
48     (b)  The amount of funds reported pursuant to paragraph
49(2)(a) shall be used by an institution to provide additional
50need-based financial assistance to eligible Florida residents.
51If the unmet need for eligible Florida residents is fully
52satisfied without reliance on loans, any remaining funds shall
53be used to provide merit-based financial assistance to eligible
54Florida residents.
55     (4)  For purposes of this section, "eligible Florida
56resident" means a student classified at the time of initial
57enrollment at a state university or community college as a
58resident for tuition purposes pursuant to s. 1009.21, Florida
59Statutes.
60     (5)  Funds redirected pursuant to this section shall be
61additional funds for need-based financial assistance for
62eligible Florida residents and shall not be used to reduce or
63supplant the level of funding for need-based financial
64assistance for such students.
65     (6)  For purposes of this section, financial assistance
66does not include compensation paid to students for
67assistantships or participation in work-study programs.
68     (7)  Each state university and community college shall
69report to the President of the Senate and the Speaker of the
70House of Representatives by July 1, 2008, the number of Florida
71residents benefiting from the use of financial assistance
72provided from the funds redirected pursuant to this section.
73     Section 2.  This act shall take effect July 1, 2006.


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