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A bill to be entitled

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An act relating to student financial assistance; providing

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legislative intent to expand access to postsecondary

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education and reduce student indebtedness; requiring each

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state university and community college to report

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information relating to certain funds used to provide

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financial assistance to certain students; prohibiting the

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use of such funds to provide financial assistance to

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specified foreign students; defining the term "eligible

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Florida resident"; providing for the redirection of funds

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to provide additional need-based financial assistance to

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eligible Florida residents; requiring a report by state

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universities and community colleges; providing an

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effective date.

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Be It Enacted by the Legislature of the State of Florida:

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     Section 1. (1) It is the intent of the Legislature to use

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a portion of the state's limited resources to expand access to

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postsecondary education and to reduce student indebtedness by

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increasing need-based financial assistance for Florida residents.

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Expanding access and increasing financial assistance will

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encourage Florida residents to pursue postsecondary education,

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which will produce economic benefits for the state by increasing

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the levels of higher educational attainment and earning potential

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of Florida's citizenry.

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     (2) By December 31, 2008, each state university and

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community college shall report to the President of the Senate and

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the Speaker of the House of Representatives:

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     (a) The total amount of state funds appropriated directly

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or indirectly to the institution and tuition and fee revenues

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generated by Florida residents that was used to provide financial

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assistance during the 2006-2007 academic year to students holding

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F-1 or M-1 visas.

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     (b) The total amount of state funds appropriated directly

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or indirectly to the institution and tuition and fee revenues

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generated by Florida residents that was used to provide need-

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based financial assistance during the 2006-2007 academic year to

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students classified as residents for tuition purposes pursuant to

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s. 1009.21, Florida Statutes.

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     (3) Effective for the 2009-2010 academic year and each year

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thereafter:

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     (a) A state university or community college shall not use

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state funds appropriated directly or indirectly to the

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institution or tuition or fee revenues generated by Florida

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residents to provide financial assistance to any student holding

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an F-1 or M-1 visa.

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     (b) The amount of funds reported pursuant to paragraph

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(2)(a) shall be used by an institution to provide additional

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need-based financial assistance to eligible Florida residents. If

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the unmet need for eligible Florida residents is fully satisfied

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without reliance on loans, any remaining funds shall be used to

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provide merit-based financial assistance to eligible Florida

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residents.

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     (4) For purposes of this section, "eligible Florida

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resident" means a student classified at the time of initial

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enrollment at a state university or community college as a

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resident for tuition purposes pursuant to s. 1009.21, Florida

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Statutes.

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     (5) Funds redirected pursuant to this section shall be

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additional funds for need-based financial assistance for eligible

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Florida residents and shall not be used to reduce or supplant the

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level of funding for need-based financial assistance for such

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students.

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     (6) For purposes of this section, financial assistance does

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not include compensation paid to students for assistantships or

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participation in work-study programs.

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     (7) Each state university and community college shall

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report to the President of the Senate and the Speaker of the

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House of Representatives by July 1, 2010, the number of Florida

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residents benefiting from the use of financial assistance

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provided from the funds redirected pursuant to this section.

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     Section 2.  This act shall take effect July 1, 2008.