| 1 | Representative Patterson offered the following: |
| 2 |
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| 3 | Substitute Amendment for Amendment (636891) (with title |
| 4 | amendment) |
| 5 | Remove lines 297-394 and insert: |
| 6 | Section 7. Board of Governors Scholarship Matching Pilot |
| 7 | Project.--The Board of Governors and the Board of Governors |
| 8 | Foundation are authorized to provide donors with an incentive in |
| 9 | the form of matching grants for donations for the sole purpose |
| 10 | of providing needs-based financial assistance for students |
| 11 | attending state universities. Donations received by the Board of |
| 12 | Governors for this purpose prior to September 30, 2006, are |
| 13 | eligible for state matching funds through legislative |
| 14 | appropriations. Any donations and state matching grants received |
| 15 | by the Board of Governors pursuant to this section may be |
| 16 | invested by the Board of Governors Foundation. Donations, state |
| 17 | matching funds, and associated investment earnings must be fully |
| 18 | disbursed for needs-based financial assistance to state |
| 19 | university students prior to June 30, 2010. The Board of |
| 20 | Governors shall provide annual reports to the Governor, the |
| 21 | President of the Senate, and the Speaker of the House of |
| 22 | Representatives providing information on the unexpended balance |
| 23 | of funds associated with this pilot project; the number of |
| 24 | students who received financial assistance; the number of |
| 25 | scholarship recipients at each state university; and the |
| 26 | minimum, maximum, and average annual award per recipient, by |
| 27 | university. The reports shall be submitted by September 30 for |
| 28 | the preceding annual period ending on June 30. This section is |
| 29 | repealed effective September 30, 2010. |
| 30 |
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| 31 | =========== T I T L E A M E N D M E N T ======== |
| 32 | Remove lines 45-51 and insert: |
| 33 | providing for reversion of funds; creating the Board of |
| 34 | Governors Scholarship Matching Pilot Project; providing for |
| 35 | funding; providing for annual reports to the Governor and |
| 36 | Legislature; providing for future repeal; providing |