CS/CS/HB 315

1	A bill to be entitled
2	An act relating to the Florida Prepaid College Program;
3	amending s. 1009.98, F.S.; revising provisions relating to
4	the transfer of benefits received from the Florida Prepaid
5	College Program to private and out-of-state colleges and
6	universities and to career centers; repealing s.
7	744.1083(10), F.S., relating to a state college or
8	university or an independent college or university
9	registering as a professional guardian; providing an
10	effective date.
11
12	Be It Enacted by the Legislature of the State of Florida:
13
14	Section 1.  Subsection (3) of section 1009.98, Florida
15	Statutes, is amended to read:
16	1009.98  Stanley G. Tate Florida Prepaid College Program.--
17	(3)  TRANSFER OF BENEFITS TO ELIGIBLE EDUCATIONAL
18	INSTITUTIONS PRIVATE AND OUT-OF-STATE COLLEGES AND UNIVERSITIES
19	AND TO CAREER CENTERS.--A qualified beneficiary may apply the
20	benefits of an advance payment contract toward any eligible
21	educational institution as defined in s. 529 of the Internal
22	Revenue Code.:
23	(a)  An independent college or university that is located
24	and chartered in Florida, that is accredited by the Commission
25	on Colleges of the Southern Association of Colleges and Schools
26	or the Accrediting Council for Independent Colleges and Schools,
27	and that confers degrees as defined in s. 1005.02. Any
28	advertisement disseminated by an eligible for-profit independent
29	college or university that references the Stanley G. Tate
30	Florida Prepaid College Program shall clearly state the
31	following: "While the benefits of a Florida Prepaid College
32	contract may be utilized at this institution, the Florida
33	Prepaid College Board does not endorse any particular college or
34	university."
35	(b)  An out-of-state college or university that is not for
36	profit and is accredited by a regional accrediting association,
37	and that confers degrees.
38	(c)  An applied technology diploma program or career
39	certificate program conducted by a community college listed in
40	s. 1004.02(2) or career center operated by a district school
41	board.
42
43	The board shall transfer or cause to be transferred to the
44	institution designated by the qualified beneficiary an amount
45	not to exceed the redemption value of the advance payment
46	contract at a state postsecondary institution. If the cost of
47	registration or housing fees at such institution is less than
48	the corresponding fees at a state postsecondary institution, the
49	amount transferred may not exceed the actual cost of
50	registration and housing fees. A transfer authorized under this
51	subsection may not exceed the number of semester credit hours or
52	semesters of dormitory residence contracted on behalf of a
53	qualified beneficiary. Any advertisement disseminated by a for-
54	profit educational institution which references the Stanley G.
55	Tate Florida Prepaid College Program shall clearly state the
56	following: "While the benefits of the Florida Prepaid College
57	contract may be used at this institution, the Florida Prepaid
58	College Board does not endorse any particular educational
59	institution." Notwithstanding any other provision in this
60	section, an institution must be an "eligible educational
61	institution" under s. 529 of the Internal Revenue Code to be
62	eligible for the transfer of advance payment contract benefits.
63	Section 2.  Subsection (10) of section 744.1083, Florida
64	Statutes, is repealed.
65	Section 3.  This act shall take effect July 1, 2009.

CODING: Words stricken are deletions; words underlined are additions.