Florida Senate - 2006 COMMITTEE AMENDMENT
Bill No. SB 550
Barcode 671074
CHAMBER ACTION
Senate House
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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
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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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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."
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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
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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
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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,
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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.
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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
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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
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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.
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