Florida Senate - 2015 COMMITTEE AMENDMENT Bill No. PCS (104334) for SB 602 Ì365936JÎ365936 LEGISLATIVE ACTION Senate . House Comm: RCS . 03/26/2015 . . . . ————————————————————————————————————————————————————————————————— ————————————————————————————————————————————————————————————————— The Committee on Appropriations (Gaetz) recommended the following: 1 Senate Amendment to Amendment (912564) 2 3 Delete lines 1185 - 1220 4 and insert: 5 qualified beneficiary may not be changed while a prepaid college 6 plan contains funds contributed from s. 1002.385. 7 (b) A qualified beneficiary may apply the benefits of an 8 advance payment contract toward the program fees of a program 9 designed for students with disabilities conducted by a state 10 postsecondary institution. A transfer authorized under this 11 subsection may not exceed the redemption value of the advance 12 payment contract at a state postsecondary institution or the 13 number of semester credit hours contracted on behalf of a 14 qualified beneficiary. 15 Section 6. Subsection (10) is added to section 1009.981, 16 Florida Statutes, to read: 17 1009.981 Florida College Savings Program.— 18 (10) IMPLEMENTATION PROCEDURES.— 19 (a) Notwithstanding any other provision in this section, a 20 college savings plan may be purchased, accounted for, used, and 21 terminated as provided in s. 1002.385. By July 1, 2015, the 22 board shall develop procedures, contracts, and any other 23 required forms or documentation necessary to fully implement 24 this subsection. The board shall enter into a contract with 25 educational fiscal intermediaries pursuant to s. 1002.385 to 26 enable the board to establish mechanisms to implement this 27 subsection, including, but not limited to, identifying the 28 source of funds being deposited into a college savings plan. A 29 designated beneficiary may not be changed while a college 30 savings plan contains funds contributed from s. 1002.385. 31 (b) A designated beneficiary may apply the benefits of a 32 participation agreement toward the program fees of a program 33 designed for students with disabilities conducted by a state 34 postsecondary institution.