Senate Bill sb0848
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Florida Senate - 2007 SB 848
By Senator Lawson
6-771-07
1 A bill to be entitled
2 An act relating to the First Generation
3 Matching Grant Program; amending s.1009.701,
4 F.S.; changing the matching fund requirements;
5 clarifying funding based on enrollment of
6 full-time resident undergraduates; allowing
7 funds to be carried across fiscal years;
8 proposing an allocation of $13 million for the
9 2007-2008 fiscal year; providing an effective
10 date.
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12 Be It Enacted by the Legislature of the State of Florida:
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14 Section 1. Subsections (1), (2), (7), and (8) of
15 section 1009.701, Florida Statutes, are amended to read:
16 1009.701 First Generation Matching Grant Program.--
17 (1) The First Generation Matching Grant Program is
18 created to enable each state university to provide donors with
19 a matching grant incentive for contributions that will create
20 grant-based student financial aid for undergraduate students
21 who demonstrate financial need and whose parents, as defined
22 in s. 1009.21(1), have not earned a baccalaureate degree or
23 higher. In the case of any individual who regularly resided
24 with and received support from only one parent, an individual
25 whose only such parent did not complete a baccalaureate degree
26 or higher would also be eligible.
27 (2) Funds appropriated by the Legislature for the
28 program shall be allocated by the Office of Student Financial
29 Assistance to provide $3 for every $1 of match private
30 contributions on a dollar-for-dollar basis. Contributions made
31 to a state university and pledged for the purposes of this
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Florida Senate - 2007 SB 848
6-771-07
1 section are eligible for state matching funds appropriated for
2 this program and are not eligible for any other state matching
3 grant program. Pledged contributions are not eligible for
4 matching prior to the actual collection of the total funds.
5 The Office of Student Financial Assistance shall reserve a
6 proportionate allocation of the total appropriated funds for
7 each state university on the basis of full-time equivalent
8 resident undergraduate enrollment. Funds that remain unmatched
9 as of August December 1 shall be reallocated to state
10 universities that have remaining unmatched private
11 contributions for the program on the basis of full-time
12 equivalent resident undergraduate enrollment.
13 (7) Each participating institution shall report to the
14 Office of Student Financial Assistance by the date established
15 by the office the eligible students to whom grant moneys are
16 disbursed each academic term. Each institution shall certify
17 to the Office of Student Financial Assistance the amount of
18 funds disbursed to each student and shall remit to the office
19 any undisbursed advances by June 1 of each year. Any balance
20 at the end of any fiscal year which has been allocated to the
21 program shall remain at the university and shall be available
22 for carrying out the purposes of the program.
23 (8) No later than November 15 July 1, each
24 participating institution shall annually report to the
25 Executive Office of the Governor, the President of the Senate,
26 the Speaker of the House of Representatives, and the Board of
27 Governors the eligibility requirements for recipients, the
28 aggregate demographics of recipients, the retention and
29 graduation rates of recipients, and a delineation of funds
30 awarded to recipients in the prior academic year.
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Florida Senate - 2007 SB 848
6-771-07
1 Section 2. For the 2007-2008 fiscal year, the sum of
2 $13 million is appropriated from the General Revenue Fund to
3 the Department of Education for the First Generation Matching
4 Grant Program pursuant to this act.
5 Section 3. This act shall take effect upon becoming a
6 law.
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9 SENATE SUMMARY
10 Changes the matching fund requirements for the First
Generation Matching Grant Program. Clarifies funding
11 based on enrollment of full-time resident undergraduates.
Allows funds to be carried across fiscal years. Proposes
12 an allocation of $13 million for the 2007-2008 fiscal
year.
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