Florida Senate - 2015                          SENATOR AMENDMENT
       Bill No. CS for SB 602
       
       
       
       
       
       
                                Ì680272"Î680272                         
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                                       .                                
                                       .                                
                                       .                                
               Floor: 1a/AD/2R         .                                
             04/01/2015 02:37 PM       .                                
       —————————————————————————————————————————————————————————————————




       —————————————————————————————————————————————————————————————————
       Senator Gaetz moved the following:
       
    1         Senate Amendment to Amendment (583336) (with directory and
    2  title amendments)
    3  
    4         Between lines 763 and 764
    5  insert:
    6         (6) OBLIGATIONS OF ELIGIBLE NONPROFIT SCHOLARSHIP-FUNDING
    7  ORGANIZATIONS.—An eligible nonprofit scholarship-funding
    8  organization:
    9         (j)1. May use up to 3 percent of eligible contributions
   10  received during the state fiscal year in which such
   11  contributions are collected for administrative expenses if the
   12  organization has operated as an eligible nonprofit scholarship
   13  funding organization under this section for at least 3 state
   14  fiscal years and did not have any negative financial findings of
   15  material weakness or material noncompliance in its most recent
   16  audit under paragraph (m). Such administrative expenses must be
   17  reasonable and necessary for the organization’s management and
   18  distribution of eligible contributions under this section. No
   19  funds authorized under this subparagraph shall be used for
   20  lobbying or political activity or expenses related to lobbying
   21  or political activity. Up to one-third of the funds authorized
   22  for administrative expenses under this subparagraph may be used
   23  for expenses related to the recruitment of contributions from
   24  taxpayers. If an eligible nonprofit scholarship-funding
   25  organization charges an application fee for a scholarship, the
   26  application fee must be immediately refunded to the person that
   27  paid the fee if the student is not enrolled in a participating
   28  school within 12 months.
   29         2. Must expend for annual or partial-year scholarships an
   30  amount equal to or greater than 75 percent of the net eligible
   31  contributions remaining after administrative expenses during the
   32  state fiscal year in which such contributions are collected. No
   33  more than 25 percent of such net eligible contributions may be
   34  carried forward to the following state fiscal year. All amounts
   35  carried forward, for audit purposes, must be specifically
   36  identified for particular students, by student name and the name
   37  of the school to which the student is admitted, subject to the
   38  requirements of ss. 1002.22 and 1002.221 and 20 U.S.C. s. 1232g,
   39  and the applicable rules and regulations issued pursuant
   40  thereto. Any amounts carried forward shall be expended for
   41  annual or partial-year scholarships in the following state
   42  fiscal year. Net eligible contributions remaining on June 30 of
   43  each year that are in excess of the 25 percent that may be
   44  carried forward shall be returned to the State Treasury for
   45  deposit in the General Revenue Fund.
   46         3. Must, before granting a scholarship for an academic
   47  year, document each scholarship student’s eligibility for that
   48  academic year. A scholarship-funding organization may not grant
   49  multiyear scholarships in one approval process.
   50  
   51  ====== D I R E C T O R Y  C L A U S E  A M E N D M E N T ======
   52  And the directory clause is amended as follows:
   53         Delete line 761
   54  and insert:
   55  
   56  
   57  
   58  ================= T I T L E  A M E N D M E N T ================
   59  And the title is amended as follows:
   60         Delete line 987
   61  and insert:
   62         1002.395, F.S.; revising the use of eligible
   63         contributions by eligible nonprofit scholarship
   64         funding organizations; revising the surety bond
   65         requirements