Florida Senate - 2006                      COMMITTEE AMENDMENT
    Bill No. SB 550
                        Barcode 671074
                            CHAMBER ACTION
              Senate                               House
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       03/21/2006 02:07 PM         .                    
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11  The Committee on Education (Wise) recommended the following
12  amendment:
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14         Senate Amendment (with title amendment) 
15         Delete everything after the enacting clause
16  
17  and insert:  
18         Section 1.  Subsection (5) of section 1009.972, Florida
19  Statutes, is amended to read:
20         1009.972  Florida Prepaid College Trust Fund.--
21         (5)  Notwithstanding the provisions of chapter 717,
22  funds associated with terminated advance payment contracts
23  pursuant to s. 1009.98(4)(k) and canceled contracts for which
24  no refunds have been claimed shall be retained by the board.
25  The board shall establish procedures for notifying purchasers
26  who subsequently cancel their advance payment contracts of any
27  unclaimed refund and shall establish a time period after which
28  no refund may be claimed by a purchaser who canceled a
29  contract. The board may transfer funds retained from such
30  terminated advance payment contracts and canceled contracts to
31  the Florida Prepaid Tuition Scholarship Program to provide
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    3:27 PM   03/20/06                             s0550d-ed05-kon

Florida Senate - 2006 COMMITTEE AMENDMENT Bill No. SB 550 Barcode 671074 1 matching funds for prepaid tuition scholarships for 2 economically disadvantaged students or students with 3 disabilities youth who remain drug free and crime free or for 4 a scholarship program that is approved by the board and the 5 board of the direct-support organization established under s. 6 1009.983. 7 Section 2. Paragraph (a) of subsection (3) and 8 paragraph (k) of subsection (4) of section 1009.98, Florida 9 Statutes, are amended to read: 10 1009.98 Florida Prepaid College Program.-- 11 (3) TRANSFER OF BENEFITS TO PRIVATE AND OUT-OF-STATE 12 COLLEGES AND UNIVERSITIES AND TO CAREER CENTERS.--A qualified 13 beneficiary may apply the benefits of an advance payment 14 contract toward: 15 (a) An independent college or university that is 16 located and chartered in Florida, that is not for profit, that 17 is accredited by the Commission on Colleges of the Southern 18 Association of Colleges and Schools or the Accrediting Council 19 for Independent Colleges and Schools, and that confers degrees 20 as defined in s. 1005.02. Any advertisement disseminated by an 21 eligible for-profit independent college or university which 22 refers to the Florida Prepaid College Program must clearly 23 state: "While the benefits of a Florida Prepaid College 24 contract may be used at this institution, the Florida Prepaid 25 College Board does not endorse any particular college or 26 university." 27 28 The board shall transfer or cause to be transferred to the 29 institution designated by the qualified beneficiary an amount 30 not to exceed the redemption value of the advance payment 31 contract at a state postsecondary institution. If the cost of 2 3:27 PM 03/20/06 s0550d-ed05-kon
Florida Senate - 2006 COMMITTEE AMENDMENT Bill No. SB 550 Barcode 671074 1 registration or housing fees at such institution is less than 2 the corresponding fees at a state postsecondary institution, 3 the amount transferred may not exceed the actual cost of 4 registration and housing fees. A transfer authorized under 5 this subsection may not exceed the number of semester credit 6 hours or semesters of dormitory residence contracted on behalf 7 of a qualified beneficiary. Notwithstanding any other 8 provision in this section, an institution must be an "eligible 9 educational institution" under s. 529 of the Internal Revenue 10 Code to be eligible for the transfer of advance payment 11 contract benefits. 12 (4) ADVANCE PAYMENT CONTRACTS.--The board shall 13 develop advance payment contracts for registration and may 14 develop advance payment contracts for dormitory residence as 15 provided in this section. Advance payment contracts shall be 16 exempt from chapter 517 and the Florida Insurance Code. Such 17 contracts shall include, but not be limited to, the following: 18 (k) The period of time after which advance payment 19 contracts that have not been terminated or the benefits used 20 shall be considered terminated. Time expended by a qualified 21 beneficiary as an active duty member of any of the armed 22 services of the United States shall be added to the period of 23 time specified by the board. A No purchaser or qualified 24 beneficiary whose advance payment contract is terminated 25 pursuant to this paragraph is not shall be entitled to a 26 refund. Notwithstanding chapter 717, the board shall retain 27 any moneys paid by the purchaser for an advance payment 28 contract that has been terminated in accordance with this 29 paragraph. Such moneys may be transferred to the Florida 30 Prepaid Tuition Scholarship Program to provide matching funds 31 for prepaid tuition scholarships for economically 3 3:27 PM 03/20/06 s0550d-ed05-kon
Florida Senate - 2006 COMMITTEE AMENDMENT Bill No. SB 550 Barcode 671074 1 disadvantaged students or students with disabilities youths 2 who remain drug free and crime free or for a scholarship 3 program that is approved by the board and the board of the 4 direct-support organization established under s. 1009.983. 5 Section 3. Section 1009.984, Florida Statutes, is 6 amended to read: 7 1009.984 Florida Prepaid Tuition Scholarship 8 Program.--The Florida Prepaid Tuition Scholarship Program is 9 established to provide economically disadvantaged students or 10 students with disabilities youth with prepaid postsecondary 11 tuition scholarships and to provide such scholarships to 12 others as approved by the board and the board of the 13 direct-support organization established under s. 1009.983. The 14 direct-support organization established pursuant to s. 15 1009.983 shall administer the program with the assistance and 16 cooperation of the Department of Education to: 17 (1) Provide an incentive for economically 18 disadvantaged students or students with disabilities youth to 19 improve school attendance and academic performance in order to 20 graduate and pursue a postsecondary education. 21 (2) Obtain the commitment and involvement of private 22 sector entities by virtue of funding matches with a ratio of 23 50 percent provided by the private sector and 50 percent 24 provided by the state. 25 (3) Purchase prepaid tuition scholarships for 26 economically disadvantaged students or students with 27 disabilities certified by the Department of Education to the 28 direct-support organization who meet minimum economic and 29 school requirements and remain drug free and crime free. 30 (a) For the purpose of this subsection, "drug free" 31 means not being convicted of, or adjudicated delinquent for, 4 3:27 PM 03/20/06 s0550d-ed05-kon
Florida Senate - 2006 COMMITTEE AMENDMENT Bill No. SB 550 Barcode 671074 1 any violation of chapter 893 after being designated a 2 recipient of a Florida prepaid tuition scholarship. 3 (b) For the purpose of this subsection, "crime free" 4 means not being convicted of, or adjudicated delinquent for, 5 any felony or first degree misdemeanor as defined in ss. 6 775.08 and 775.081 after being designated a recipient of a 7 Florida prepaid tuition scholarship. 8 (4) Purchase prepaid tuition scholarships for students 9 who are eligible for a scholarship program that is approved by 10 the board and the board of the direct-support organization 11 established under s. 1009.983. 12 Section 4. This act shall take effect July 1, 2006. 13 14 15 ================ T I T L E A M E N D M E N T =============== 16 And the title is amended as follows: 17 Delete everything before the enacting clause 18 19 and insert: 20 A bill to be entitled 21 An act relating to scholarship programs; 22 amending s. 1009.972, F.S.; providing for the 23 Florida Prepaid Tuition Scholarship Program to 24 be funded with moneys retained from certain 25 terminated or cancelled contracts under the 26 Florida Prepaid College Program; extending the 27 scholarship program to students with 28 disabilities; authorizing the Florida Prepaid 29 College Board and Prepaid College Foundation 30 Board to approve scholarship programs for such 31 funding; amending s. 1009.98, F.S.; deleting a 5 3:27 PM 03/20/06 s0550d-ed05-kon
Florida Senate - 2006 COMMITTEE AMENDMENT Bill No. SB 550 Barcode 671074 1 restriction on the types of postsecondary 2 educational institutions in which a qualified 3 beneficiary may use his or her benefits under 4 the Florida Prepaid College Program; requiring 5 certain advertisements to contain a disclaimer 6 regarding the program; conforming provisions to 7 changes made by the act; extending the 8 scholarship program to students with 9 disabilities; amending s. 1009.984, F.S.; 10 expanding the Florida Prepaid Tuition 11 Scholarship Program to provide scholarships to 12 students with disabilities and students 13 approved by the Florida Prepaid College Board 14 and the Prepaid College Foundation Board; 15 providing an effective date. 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 6 3:27 PM 03/20/06 s0550d-ed05-kon