Florida Senate - 2009                              CS for SB 606
       
       
       
       By the Committee on Higher Education; and Senators Wise and
       Fasano
       
       
       
       589-02371-09                                           2009606c1
    1                        A bill to be entitled                      
    2         An act relating to the Florida Prepaid College
    3         Program; amending s. 1009.98, F.S.; revising
    4         provisions relating to the transfer of benefits
    5         received from the Florida Prepaid College Program to
    6         private and out-of-state colleges and universities and
    7         to career centers; amending s. 744.1083, F.S.,
    8         relating to professional guardians; conforming a
    9         cross-reference; providing an effective date.
   10  
   11  Be It Enacted by the Legislature of the State of Florida:
   12  
   13         Section 1. Subsection (3) of section 1009.98, Florida
   14  Statutes, is amended to read:
   15         1009.98 Stanley G. Tate Florida Prepaid College Program.—
   16         (3) TRANSFER OF BENEFITS TO PRIVATE AND OUT-OF-STATE
   17  COLLEGES AND UNIVERSITIES AND TO CAREER CENTERS.—A qualified
   18  beneficiary may apply the benefits of an advance payment
   19  contract toward any eligible educational institution as defined
   20  in s. 529 of the Internal Revenue Code.:
   21         (a) An independent college or university that is located
   22  and chartered in Florida, that is accredited by the Commission
   23  on Colleges of the Southern Association of Colleges and Schools
   24  or the Accrediting Council for Independent Colleges and Schools,
   25  and that confers degrees as defined in s. 1005.02. Any
   26  advertisement disseminated by an eligible for-profit independent
   27  college or university that references the Stanley G. Tate
   28  Florida Prepaid College Program shall clearly state the
   29  following: “While the benefits of a Florida Prepaid College
   30  contract may be utilized at this institution, the Florida
   31  Prepaid College Board does not endorse any particular college or
   32  university.”
   33         (b) An out-of-state college or university that is not for
   34  profit and is accredited by a regional accrediting association,
   35  and that confers degrees.
   36         (c) An applied technology diploma program or career
   37  certificate program conducted by a community college listed in
   38  s. 1004.02(2) or career center operated by a district school
   39  board.
   40  
   41  The board shall transfer or cause to be transferred to the
   42  institution designated by the qualified beneficiary an amount
   43  not to exceed the redemption value of the advance payment
   44  contract at a state postsecondary institution. If the cost of
   45  registration or housing fees at such institution is less than
   46  the corresponding fees at a state postsecondary institution, the
   47  amount transferred may not exceed the actual cost of
   48  registration and housing fees. A transfer authorized under this
   49  subsection may not exceed the number of semester credit hours or
   50  semesters of dormitory residence contracted on behalf of a
   51  qualified beneficiary. Any advertisement disseminated by a for
   52  profit educational institution which references the Stanley G.
   53  Tate Florida Prepaid College Program shall clearly state the
   54  following: “While the benefits of the Florida Prepaid College
   55  contract may be used at this institution, the Florida Prepaid
   56  College Board does not endorse any particular educational
   57  institution.” Notwithstanding any other provision in this
   58  section, an institution must be an “eligible educational
   59  institution” under s. 529 of the Internal Revenue Code to be
   60  eligible for the transfer of advance payment contract benefits.
   61         Section 2. Subsection (10) of section 744.1083, Florida
   62  Statutes, is amended to read:
   63         744.1083 Professional guardian registration.—
   64         (10) A state college or university or an independent
   65  college or university authorized under s. 1009.98(3) described
   66  in s. 1009.98(3)(a), may, but is not required to, register as a
   67  professional guardian under this section. If a state college or
   68  university or independent college or university elects to
   69  register as a professional guardian under this subsection, the
   70  requirements of subsections (3) and (4) do not apply and the
   71  registration must include only the name, address, and employer
   72  identification number of the registrant.
   73         Section 3. This act shall take effect July 1, 2009.