Florida Senate - 2009 SB 1294 By Senator Storms 10-00190-09 20091294__ 1 A bill to be entitled 2 An act relating to student financial assistance; 3 providing legislative intent to expand access to 4 postsecondary education and reduce student 5 indebtedness; requiring each state university and 6 community college to report information relating to 7 certain funds used to provide financial assistance to 8 certain students; prohibiting the use of such funds to 9 provide financial assistance to specified foreign 10 students; defining the term “eligible Florida 11 resident”; providing for the redirection of funds to 12 provide additional need-based financial assistance to 13 eligible Florida residents; requiring a report by 14 state universities and community colleges; providing 15 an effective date. 16 17 Be It Enacted by the Legislature of the State of Florida: 18 19 Section 1. (1) It is the intent of the Legislature to use a 20 portion of the state's limited resources to expand access to 21 postsecondary education and to reduce student indebtedness by 22 increasing need-based financial assistance for Florida 23 residents. Expanding access and increasing financial assistance 24 will encourage Florida residents to pursue postsecondary 25 education, which will produce economic benefits for the state by 26 increasing the levels of higher educational attainment and 27 earning potential of Florida's citizenry. 28 (2) By December 31, 2009, each state university and 29 community college shall report to the President of the Senate 30 and the Speaker of the House of Representatives the total amount 31 of state funds appropriated directly or indirectly to the 32 institution and tuition and fee revenues generated by Florida 33 residents which were used to provide: 34 (a) Financial assistance during the 2007-2008 academic year 35 to students holding F-1 or M-1 visas. 36 (b) Need-based financial assistance during the 2007-2008 37 academic year to students classified as residents for tuition 38 purposes pursuant to s. 1009.21, Florida Statutes. 39 (3) Effective for the 2010-2011 academic year and each year 40 thereafter: 41 (a) A state university or community college may not use 42 state funds appropriated directly or indirectly to the 43 institution or tuition or fee revenues generated by Florida 44 residents to provide financial assistance to any student holding 45 an F-1 or M-1 visa. 46 (b) The amount of funds reported pursuant to paragraph 47 (2)(a) shall be used by an institution to provide additional 48 need-based financial assistance to eligible Florida residents. 49 If the unmet need for eligible Florida residents is fully 50 satisfied without reliance on loans, any remaining funds shall 51 be used to provide merit-based financial assistance to eligible 52 Florida residents. 53 (4) For purposes of this section, “eligible Florida 54 resident” means a student classified at the time of initial 55 enrollment at a state university or community college as a 56 resident for tuition purposes pursuant to s. 1009.21, Florida 57 Statutes. 58 (5) Funds redirected pursuant to this section shall be 59 additional funds for need-based financial assistance for 60 eligible Florida residents and may not be used to reduce or 61 supplant the level of funding for need-based financial 62 assistance for such students. 63 (6) For purposes of this section, financial assistance does 64 not include compensation paid to students for assistantships or 65 participation in work-study programs. 66 (7) Each state university and community college shall 67 report to the President of the Senate and the Speaker of the 68 House of Representatives by July 1, 2011, the number of Florida 69 residents benefiting from the use of financial assistance 70 provided from the funds redirected pursuant to this section. 71 Section 2. This act shall take effect July 1, 2009.