Florida Senate - 2020                        COMMITTEE AMENDMENT
       Bill No. SB 72
       
       
       
       
       
       
                                Ì828070ÇÎ828070                         
       
                              LEGISLATIVE ACTION                        
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       Appropriations Subcommittee on Education (Stargel) recommended
       the following:
       
    1         Senate Amendment (with title amendment)
    2  
    3         Delete everything after the enacting clause
    4  and insert:
    5         Section 1. Paragraph (c) of subsection (18) of section
    6  1001.03, Florida Statutes, is amended to read:
    7         1001.03 Specific powers of State Board of Education.—
    8         (18) PUBLIC EDUCATION CAPITAL OUTLAY.—The State Board of
    9  Education shall develop and submit the prioritized list required
   10  by s. 1013.64(4). Projects considered for prioritization shall
   11  be chosen from a preliminary selection group which shall include
   12  the list of projects maintained pursuant to paragraph (d) and
   13  the top two priorities of each Florida College System
   14  institution.
   15         (c) A new construction, remodeling, or renovation project
   16  that has not received an appropriation in a previous year shall
   17  not be considered for inclusion on the prioritized list required
   18  by s. 1013.64(4), unless:
   19         1. A plan is provided to reserve funds in an escrow
   20  account, specific to the project, into which shall be deposited
   21  each year an amount of funds equal to 0.5 percent of the total
   22  value of the building for future maintenance;
   23         2. There exists are sufficient capacity within the cash and
   24  bonding estimate of funds by the Revenue Estimating Conference
   25  to accommodate the project excess funds from the allocation
   26  provided pursuant to s. 1013.60 within the 3-year Public
   27  Education Capital Outlay funding cycle planning period which are
   28  not needed to complete the projects listed pursuant to paragraph
   29  (d); and
   30         3. The project has been recommended pursuant to s. 1013.31.
   31         Section 2. Subsections (2), (3), (5), (6), and (7) of
   32  section 1001.7065, Florida Statutes, are amended to read:
   33         1001.7065 Preeminent state research universities program.—
   34         (2) ACADEMIC AND RESEARCH EXCELLENCE STANDARDS.—The
   35  following academic and research excellence standards are
   36  established for the preeminent state research universities
   37  program and must be reported annually in the Board of Governors
   38  Accountability Plan:
   39         (a) An average weighted grade point average of 4.0 or
   40  higher on a 4.0 scale and an average SAT score of 1800 or higher
   41  on a 2400-point scale or 1200 or higher on a 1600-point scale
   42  for fall semester incoming freshmen, as reported annually.
   43         (b) A top-50 ranking on at least two well-known and highly
   44  respected national public university rankings, including, but
   45  not limited to, the U.S. News and World Report rankings,
   46  reflecting national preeminence, using most recent rankings.
   47         (c) A freshman retention rate of 90 percent or higher for
   48  full-time, first-time-in-college students, as reported annually
   49  to the Integrated Postsecondary Education Data System (IPEDS).
   50         (d) A 4-year graduation rate of 60 percent or higher for
   51  full-time, first-time-in-college students, as reported annually
   52  to the IPEDS. However, for the 2018 determination of a state
   53  university’s preeminence designation and the related
   54  distribution of the 2018-2019 fiscal year appropriation
   55  associated with preeminence and emerging preeminence, a
   56  university is considered to have satisfied this graduation rate
   57  measure by attaining a 6-year graduation rate of 70 percent or
   58  higher by October 1, 2017, for full-time, first-time-in-college
   59  students, as reported to the IPEDS and confirmed by the Board of
   60  Governors.
   61         (e) Six or more faculty members at the state university who
   62  are members of a national academy, as reported by the Center for
   63  Measuring University Performance in the Top American Research
   64  Universities (TARU) annual report or the official membership
   65  directories maintained by each national academy.
   66         (f) Total annual research expenditures, including federal
   67  research expenditures, of $200 million or more, as reported
   68  annually by the National Science Foundation (NSF).
   69         (g) Total annual research expenditures in diversified
   70  nonmedical sciences of $150 million or more, based on data
   71  reported annually by the NSF.
   72         (h) A top-100 university national ranking for research
   73  expenditures in five or more science, technology, engineering,
   74  or mathematics fields of study, as reported annually by the NSF.
   75         (i) One hundred or more total patents awarded by the United
   76  States Patent and Trademark Office for the most recent 3-year
   77  period.
   78         (j) Four hundred or more doctoral degrees awarded annually,
   79  including professional doctoral degrees awarded in medical and
   80  health care disciplines, as reported in the Board of Governors
   81  Annual Accountability Report.
   82         (k) Two hundred or more postdoctoral appointees annually,
   83  as reported in the TARU annual report.
   84         (l) An endowment of $500 million or more, as reported in
   85  the Board of Governors Annual Accountability Report.
   86         (3) PREEMINENT STATE RESEARCH UNIVERSITY DESIGNATION.—
   87         (a) The Board of Governors shall designate each state
   88  university that annually meets at least 11 of the 12 academic
   89  and research excellence standards identified in subsection (2)
   90  as a “preeminent state research university.”
   91         (b)The Board of Governors shall designate each state
   92  university that annually meets at least 6 of the 12 academic and
   93  research excellence standards identified in subsection (2) as an
   94  “emerging preeminent state research university.”
   95         (5) PREEMINENT STATE RESEARCH UNIVERSITIES PROGRAM
   96  SUPPORT.—
   97         (a) A state university that is designated as a preeminent
   98  state research university shall submit to the Board of Governors
   99  a 5-year benchmark plan with target rankings on key performance
  100  metrics for national excellence. Upon approval by the Board of
  101  Governors, and upon the university’s meeting the benchmark plan
  102  goals annually, the Board of Governors shall award the
  103  university its proportionate share of any funds provided
  104  annually to support the program created under this section.
  105         (b) A state university designated as an emerging preeminent
  106  state research university shall submit to the Board of Governors
  107  a 5-year benchmark plan with target rankings on key performance
  108  metrics for national excellence. Upon approval by the Board of
  109  Governors, and upon the university’s meeting the benchmark plan
  110  goals annually, the Board of Governors shall award the
  111  university its proportionate share of any funds provided
  112  annually to support the program created under this section.
  113         (c) The award of funds under this subsection is contingent
  114  upon funding provided by the Legislature to support the
  115  preeminent state research universities program created under
  116  this section. Funding increases appropriated beyond the amounts
  117  funded in the previous fiscal year shall be distributed equally
  118  to as follows:
  119         1. each designated preeminent state research university
  120  that meets the criteria in paragraph (a) shall receive an equal
  121  amount of funding.
  122         2.Each designated emerging preeminent state research
  123  university that meets the criteria in paragraph (b) shall,
  124  beginning in the 2018-2019 fiscal year, receive an amount of
  125  funding that is equal to one-fourth of the total increased
  126  amount awarded to each designated preeminent state research
  127  university.
  128         (6) PREEMINENT STATE RESEARCH UNIVERSITY FLEXIBILITY
  129  AUTHORITY.—The Board of Governors is encouraged to identify and
  130  grant all reasonable, feasible authority and flexibility to
  131  ensure that each designated preeminent state research university
  132  and each designated emerging preeminent state research
  133  university is free from unnecessary restrictions.
  134         (7) STATE UNIVERSITIES PROGRAMS OF DISTINCTION EXCELLENCE
  135  THROUGHOUT THE STATE UNIVERSITY SYSTEM.—The Board of Governors
  136  shall establish standards and measures that may be used in
  137  identifying state universities that focus on one core competency
  138  unique to the State University System and that achieve
  139  excellence at the national or state level, meet state workforce
  140  needs, and foster an innovation economy that focuses on such
  141  areas as health care, security, transportation, and science,
  142  technology, engineering, and mathematics (STEM), including
  143  supply chain management. By each January 1, the Board of
  144  Governors may submit such programs whereby individual
  145  undergraduate, graduate, and professional degree programs in
  146  state universities which objectively reflect national excellence
  147  can be identified and make recommendations to the Legislature
  148  for funding by September 1, 2018, as to how any such programs
  149  could be enhanced and promoted.
  150         Section 3. Subsection (4) of section 1004.085, Florida
  151  Statutes, is amended to read:
  152         1004.085 Textbook and instructional materials
  153  affordability.—
  154         (4) Each Florida College System institution and state
  155  university board of trustees is authorized to adopt policies in
  156  consultation with providers, including bookstores, which allow
  157  for the use of innovative pricing techniques and payment options
  158  for textbooks and instructional materials. Such policies may
  159  include bulk pricing arrangements that enable students to
  160  purchase course materials or texts that are delivered digitally;
  161  delivered through other technologies that are, or the licenses
  162  of which are, required for use within a course; or delivered in
  163  a print format. Innovative pricing techniques and payment
  164  options must include an opt-in or opt-out provision for students
  165  and may be approved only if there is documented evidence that
  166  the options reduce the cost of textbooks and instructional
  167  materials for students taking a course.
  168         Section 4. Paragraph (c) of subsection (2) of section
  169  1004.346, Florida Statutes, is amended to read:
  170         1004.346 Florida Industrial and Phosphate Research
  171  Institute.—
  172         (2) PHOSPHATE RESEARCH AND ACTIVITIES BOARD.—The Phosphate
  173  Research and Activities Board is created to monitor the
  174  expenditure of funds appropriated to the university from the
  175  Phosphate Research Trust Fund.
  176         (c) Members of the board appointed by the Governor shall be
  177  appointed to 3-year terms. A board member may continue to serve
  178  until a successor is appointed, but not more than 180 days after
  179  the expiration of his or her term. A board member is eligible
  180  for reappointment to subsequent terms.
  181         Section 5. Section 1009.50, Florida Statutes, is amended to
  182  read:
  183         1009.50 Florida Public Student Assistance Grant Program;
  184  eligibility for grants.—
  185         (1) There is hereby created a Florida Public Student
  186  Assistance Grant Program. The program shall be administered by
  187  the participating institutions in accordance with rules of the
  188  state board.
  189         (2)(a) State student assistance grants through the program
  190  may be made only to degree-seeking students who enroll in at
  191  least 6 semester hours, or the equivalent per term, and who meet
  192  the general requirements for student eligibility as provided in
  193  s. 1009.40, except as otherwise provided in this section. The
  194  grants shall be awarded annually for the amount of demonstrated
  195  unmet need for the cost of education and may not exceed the
  196  maximum annual award an amount equal to the average prior
  197  academic year cost of tuition fees and other registration fees
  198  for 30 credit hours at state universities or such other amount
  199  as specified in the General Appropriations Act, to any
  200  recipient. A demonstrated unmet need of less than $200 shall
  201  render the applicant ineligible for a state student assistance
  202  grant. Recipients of the grants must have been accepted at a
  203  state university or Florida College System institution
  204  authorized by Florida law. If funds are available, a student who
  205  received an award in the fall or spring term may receive a
  206  summer term award. A student is eligible for the award for 110
  207  percent of the number of credit hours required to complete the
  208  program in which enrolled, except as otherwise provided in s.
  209  1009.40(3).
  210         (b) A student applying for a Florida public student
  211  assistance grant shall be required to apply for the Pell Grant.
  212  The Pell Grant entitlement shall be considered when conducting
  213  an assessment of the financial resources available to each
  214  student.
  215         (c) Priority in the distribution of grant moneys shall be
  216  given to students with the lowest total family resources, in
  217  accordance with a nationally recognized system of need analysis.
  218  Using the system of need analysis, the department shall
  219  establish a maximum expected family contribution. An institution
  220  may not make a grant from this program to a student whose
  221  expected family contribution exceeds one and one-half times the
  222  maximum Pell Grant-eligible family contribution level
  223  established by the department. An institution may not impose
  224  additional criteria to determine a student’s eligibility to
  225  receive a grant award.
  226         (d) Each participating institution shall report, to the
  227  department by the established date, the eligible students
  228  eligible for the program for to whom grant moneys are disbursed
  229  each academic term. Each institution shall also report to the
  230  department necessary demographic and eligibility data for such
  231  students.
  232         (3) Based on the unmet financial need of an eligible
  233  applicant, the amount of a Florida public student assistance
  234  grant must be between $200 and the weighted average of the cost
  235  of tuition and other registration fees for 30 credit hours at
  236  state universities per academic year or the amount specified in
  237  the General Appropriations Act.
  238         (4)(a) The funds appropriated for the Florida Public
  239  Student Assistance Grant shall be distributed to eligible
  240  institutions in accordance with a formula approved by the State
  241  Board of Education. The formula must shall consider at least the
  242  prior year’s distribution of funds, the number of full-time
  243  eligible applicants who did not receive awards, the
  244  standardization of the expected family contribution, and
  245  provisions for unused funds. The formula must account for
  246  changes in the number of eligible students across all student
  247  assistance grant programs established pursuant to this section
  248  and ss. 1009.505, 1009.51, and 1009.52.
  249         (b) Payment of Florida public student assistance grants
  250  shall be transmitted to the president of the state university or
  251  Florida College System institution, or to his or her
  252  representative, in advance of the registration period.
  253  Institutions shall notify students of the amount of their
  254  awards.
  255         (c) The eligibility status of each student to receive a
  256  disbursement shall be determined by each institution as of the
  257  end of its regular registration period, inclusive of a drop-add
  258  period. Institutions shall not be required to reevaluate a
  259  student’s eligibility status after this date for purposes of
  260  changing eligibility determinations previously made.
  261         (d) Institutions shall certify to the department within 30
  262  days after the end of regular registration each term the amount
  263  of funds disbursed to each student and shall remit to the
  264  department any undisbursed advances within 60 days after the end
  265  of regular registration each spring term any advances by June 1
  266  of each year. An exception to the remittance deadline may be
  267  granted if the institution documents to the department how it
  268  plans to disburse awards to students for the subsequent summer
  269  term. An institution that uses funds for the summer term shall
  270  certify to the department the amount of funds disbursed to each
  271  student and shall remit to the department any undisbursed
  272  advances within 30 days after the end of the summer term.
  273         (e) Each institution that receives moneys through the
  274  Florida Public Student Assistance Grant Program shall prepare a
  275  biennial report that includes a financial audit, conducted by
  276  the Auditor General, of the institution’s administration of the
  277  program and a complete accounting of moneys allocated to the
  278  institution for the program. Such report shall be submitted to
  279  the department by March 1 every other year. The department may
  280  conduct its own annual or biennial audit of an institution’s
  281  administration of the program and its allocated funds in lieu of
  282  the required biennial report and financial audit report. The
  283  department may suspend or revoke an institution’s eligibility to
  284  receive future moneys for the program or may request a refund of
  285  any moneys overpaid to the institution for the program if the
  286  department finds that an institution has not complied with this
  287  section. Any refund requested pursuant to this paragraph shall
  288  be remitted within 60 days after notification by the department.
  289         (5) Funds appropriated by the Legislature for state student
  290  assistance grants may be deposited in the State Student
  291  Financial Assistance Trust Fund. Notwithstanding the provisions
  292  of s. 216.301 and pursuant to s. 216.351, any balance in the
  293  trust fund at the end of any fiscal year which has been
  294  allocated to the Florida Public Student Assistance Grant Program
  295  shall remain therein and shall be available for carrying out the
  296  purposes of this section.
  297         (6) The State Board of Education shall establish rules
  298  necessary to implement this section.
  299         Section 6. Present subsections (5) and (6) of section
  300  1009.505, Florida Statutes, are redesignated as subsections (6)
  301  and (7), respectively, a new subsection (5) is added to that
  302  section, and subsections (3) and (4) of that section are
  303  amended, to read:
  304         1009.505 Florida Public Postsecondary Career Education
  305  Student Assistance Grant Program.—
  306         (3)(a) Student assistance grants through the program may be
  307  made only to certificate-seeking students enrolled at least
  308  half-time in a public postsecondary career certificate program
  309  who meet the general requirements for student eligibility as
  310  provided in s. 1009.40, except as otherwise provided in this
  311  section. The grants shall be awarded annually to any recipient
  312  for the amount of demonstrated unmet need for the cost of
  313  education and may not exceed the average annual cost of tuition
  314  and registration fees or such other amount as specified in the
  315  General Appropriations Act. A demonstrated unmet need of less
  316  than $200 shall render the applicant ineligible for a grant
  317  under this section. Recipients of the grants must have been
  318  accepted at a Florida College System institution authorized by
  319  Florida law or a career center operated by a district school
  320  board under s. 1001.44. If funds are available, a student who
  321  received an award in the fall or spring term may receive a
  322  summer term award. A student is eligible for the award for 110
  323  percent of the number of clock hours required to complete the
  324  program in which enrolled.
  325         (b) A student applying for a Florida public postsecondary
  326  career education student assistance grant shall be required to
  327  apply for the Pell Grant. A Pell Grant entitlement shall be
  328  considered when conducting an assessment of the financial
  329  resources available to each student; however, a Pell Grant
  330  entitlement shall not be required as a condition of receiving a
  331  grant under this section.
  332         (c) Each participating institution shall report, to the
  333  department by the established date, the eligible students
  334  eligible for the program for to whom grant moneys are disbursed
  335  each academic term. Each institution shall also report to the
  336  department necessary demographic and eligibility data for such
  337  students.
  338         (4)(a) The funds appropriated for the Florida Public
  339  Postsecondary Career Education Student Assistance Grant Program
  340  shall be distributed to eligible Florida College System
  341  institutions and district school boards in accordance with a
  342  formula approved by the department. The formula must account for
  343  changes in the number of eligible students across all student
  344  assistance grant programs established pursuant to this section
  345  and ss. 1009.50, 1009.51, and 1009.52.
  346         (b) Payment of Florida public postsecondary career
  347  education student assistance grants shall be transmitted to the
  348  president of the Florida College System institution or to the
  349  district school superintendent, or to the designee thereof, in
  350  advance of the registration period. Institutions shall notify
  351  students of the amount of their awards.
  352         (c) The eligibility status of each student to receive a
  353  disbursement shall be determined by each institution as of the
  354  end of its regular registration period, inclusive of a drop-add
  355  period. Institutions shall not be required to reevaluate a
  356  student’s eligibility status after this date for purposes of
  357  changing eligibility determinations previously made.
  358         (d) Participating institutions shall certify to the
  359  department within 30 days after the end of regular registration
  360  each term the amount of funds disbursed to each student and
  361  shall remit to the department any undisbursed advances within 60
  362  days after the end of regular registration each spring term by
  363  June 1 of each year. An exception to the remittance deadline may
  364  be granted if the institution documents to the department how it
  365  plans to disburse awards to students for the subsequent summer
  366  term. An institution that uses funds for the summer term shall
  367  certify to the department the amount of funds disbursed to each
  368  student and shall remit to the department any undisbursed
  369  advances within 30 days after the end of the summer term.
  370         (e) Each institution that receives moneys through the
  371  Florida Public Postsecondary Career Education Student Assistance
  372  Grant Program shall prepare a biennial report that includes a
  373  financial audit, conducted by the Auditor General, of the
  374  institution’s administration of the program and a complete
  375  accounting of moneys allocated to the institution for the
  376  program. Such report shall be submitted to the department by
  377  March 1 every other year. The department may conduct its own
  378  annual or biennial audit of an institution’s administration of
  379  the program and its allocated funds in lieu of the required
  380  biennial report and financial audit report. The department may
  381  suspend or revoke an institution’s eligibility to receive future
  382  moneys for the program or may request a refund of any moneys
  383  overpaid to the institution if the department finds that an
  384  institution has not complied with this section. Any refund
  385  requested pursuant to this paragraph shall be remitted within 60
  386  days after notification by the department.
  387         (5) Funds appropriated by the Legislature for state student
  388  assistance grants may be deposited in the State Student
  389  Financial Assistance Trust Fund. Notwithstanding s. 216.301, and
  390  pursuant to s. 216.351, any balance in the trust fund at the end
  391  of any fiscal year which has been allocated to the Florida
  392  Public Postsecondary Career Education Student Assistance Grant
  393  Program shall remain therein and shall be available for carrying
  394  out the purposes of this section.
  395         Section 7. Section 1009.51, Florida Statutes, is amended to
  396  read:
  397         1009.51 Florida Private Student Assistance Grant Program;
  398  eligibility for grants.—
  399         (1) There is created a Florida Private Student Assistance
  400  Grant Program. The program shall be administered by the
  401  participating institutions in accordance with rules of the State
  402  Board of Education.
  403         (2)(a) Florida private student assistance grants from the
  404  State Student Financial Assistance Trust Fund may be made only
  405  to full-time degree-seeking students who meet the general
  406  requirements for student eligibility as provided in s. 1009.40,
  407  except as otherwise provided in this section. Such grants shall
  408  be awarded for the amount of demonstrated unmet need for tuition
  409  and fees and may not exceed the maximum annual award an amount
  410  equal to the average tuition and other registration fees for 30
  411  credit hours at state universities plus $1,000 per academic
  412  year, or as specified in the General Appropriations Act, to any
  413  applicant. A demonstrated unmet need of less than $200 shall
  414  render the applicant ineligible for a Florida private student
  415  assistance grant. Recipients of such grants must have been
  416  accepted at a baccalaureate-degree-granting independent
  417  nonprofit college or university, which is accredited by the
  418  Commission on Colleges of the Southern Association of Colleges
  419  and Schools and which is located in and chartered as a domestic
  420  corporation by the state. If funds are available, a student who
  421  received an award in the fall or spring term may receive a
  422  summer term award. No student may receive an award for more than
  423  the equivalent of 9 semesters or 14 quarters of full-time
  424  enrollment, except as otherwise provided in s. 1009.40(3).
  425         (b) A student applying for a Florida private student
  426  assistance grant shall be required to apply for the Pell Grant.
  427  The Pell Grant entitlement shall be considered when conducting
  428  an assessment of the financial resources available to each
  429  student.
  430         (c) Priority in the distribution of grant moneys shall be
  431  given to students with the lowest total family resources, in
  432  accordance with a nationally recognized system of need analysis.
  433  Using the system of need analysis, the department shall
  434  establish a maximum expected family contribution. An institution
  435  may not make a grant from this program to a student whose
  436  expected family contribution exceeds one and one-half times the
  437  maximum Pell Grant-eligible family contribution level
  438  established by the department. An institution may not impose
  439  additional criteria to determine a student’s eligibility to
  440  receive a grant award.
  441         (d) Each participating institution shall report, to the
  442  department by the established date, the eligible students
  443  eligible for the program for to whom grant moneys are disbursed
  444  each academic term. Each institution shall also report to the
  445  department necessary demographic and eligibility data for such
  446  students.
  447         (3) Based on the unmet financial need of an eligible
  448  applicant, the amount of a Florida private student assistance
  449  grant must be between $200 and the average cost of tuition and
  450  other registration fees for 30 credit hours at state
  451  universities plus $1,000 per academic year or the amount
  452  specified in the General Appropriations Act.
  453         (4)(a) The funds appropriated for the Florida Private
  454  Student Assistance Grant shall be distributed to eligible
  455  institutions in accordance with a formula approved by the State
  456  Board of Education. The formula must shall consider at least the
  457  prior year’s distribution of funds, the number of full-time
  458  eligible applicants who did not receive awards, the
  459  standardization of the expected family contribution, and
  460  provisions for unused funds. The formula must account for
  461  changes in the number of eligible students across all student
  462  assistance grant programs established pursuant to this section
  463  and ss. 1009.50, 1009.505, and 1009.52.
  464         (b) Payment of Florida private student assistance grants
  465  shall be transmitted to the president of the college or
  466  university, or to his or her representative, in advance of the
  467  registration period. Institutions shall notify students of the
  468  amount of their awards.
  469         (c) The eligibility status of each student to receive a
  470  disbursement shall be determined by each institution as of the
  471  end of its regular registration period, inclusive of a drop-add
  472  period. Institutions shall not be required to reevaluate a
  473  student’s eligibility status after this date for purposes of
  474  changing eligibility determinations previously made.
  475         (d) Institutions shall certify to the department within 30
  476  days after the end of regular registration each term the amount
  477  of funds disbursed to each student and shall remit to the
  478  department any undisbursed advances within 60 days after the end
  479  of regular registration each spring term by June 1 of each year.
  480  An exception to the remittance deadline may be granted if the
  481  institution documents to the department how it plans to disburse
  482  awards to students for the subsequent summer term. An
  483  institution that uses funds for the summer term shall certify to
  484  the department the amount of funds disbursed to each student and
  485  shall remit to the department any undisbursed advances within 30
  486  days after the end of the summer term.
  487         (e) Each institution that receives moneys through the
  488  Florida Private Student Assistance Grant Program shall prepare a
  489  biennial report that includes a financial audit, conducted by an
  490  independent certified public accountant, of the institution’s
  491  administration of the program and a complete accounting of
  492  moneys in the State Student Financial Assistance Trust Fund
  493  allocated to the institution for the program. Such report shall
  494  be submitted to the department by March 1 every other year. The
  495  department may conduct its own annual or biennial audit of an
  496  institution’s administration of the program and its allocated
  497  funds in lieu of the required biennial report and financial
  498  audit report. The department may suspend or revoke an
  499  institution’s eligibility to receive future moneys from the
  500  trust fund for the program or request a refund of any moneys
  501  overpaid to the institution through the trust fund for the
  502  program if the department finds that an institution has not
  503  complied with the provisions of this section. Any refund
  504  requested pursuant to this paragraph shall be remitted within 60
  505  days after notification by the department.
  506         (5) Funds appropriated by the Legislature for Florida
  507  private student assistance grants may be deposited in the State
  508  Student Financial Assistance Trust Fund. Notwithstanding the
  509  provisions of s. 216.301 and pursuant to s. 216.351, any balance
  510  in the trust fund at the end of any fiscal year which has been
  511  allocated to the Florida Private Student Assistance Grant
  512  Program shall remain therein and shall be available for carrying
  513  out the purposes of this section and as otherwise provided by
  514  law.
  515         (6) The State Board of Education shall adopt rules
  516  necessary to implement this section.
  517         Section 8. Section 1009.52, Florida Statutes, is amended to
  518  read:
  519         1009.52 Florida Postsecondary Student Assistance Grant
  520  Program; eligibility for grants.—
  521         (1) There is created a Florida Postsecondary Student
  522  Assistance Grant Program. The program shall be administered by
  523  the participating institutions in accordance with rules of the
  524  State Board of Education.
  525         (2)(a) Florida postsecondary student assistance grants
  526  through the State Student Financial Assistance Trust Fund may be
  527  made only to full-time degree-seeking students who meet the
  528  general requirements for student eligibility as provided in s.
  529  1009.40, except as otherwise provided in this section. Such
  530  grants shall be awarded for the amount of demonstrated unmet
  531  need for tuition and fees and may not exceed the maximum annual
  532  award an amount equal to the average prior academic year cost of
  533  tuition and other registration fees for 30 credit hours at state
  534  universities plus $1,000 per academic year, or as specified in
  535  the General Appropriations Act, to any applicant. A demonstrated
  536  unmet need of less than $200 shall render the applicant
  537  ineligible for a Florida postsecondary student assistance grant.
  538  Recipients of such grants must have been accepted at a
  539  postsecondary institution that is located in this the state and
  540  that is:
  541         1. A private nursing diploma school approved by the Florida
  542  Board of Nursing; or
  543         2. A college or university licensed by the Commission for
  544  Independent Education, excluding those institutions the students
  545  of which are eligible to receive a Florida private student
  546  assistance grant pursuant to s. 1009.51.
  547  
  548  If funds are available, a student who received an award in the
  549  fall or spring term may receive a summer term award. No student
  550  may receive an award for more than the equivalent of 9 semesters
  551  or 14 quarters of full-time enrollment, except as otherwise
  552  provided in s. 1009.40(3).
  553         (b) A student applying for a Florida postsecondary student
  554  assistance grant shall be required to apply for the Pell Grant.
  555  The Pell Grant entitlement shall be considered when conducting
  556  an assessment of the financial resources available to each
  557  student.
  558         (c) Priority in the distribution of grant moneys shall be
  559  given to students with the lowest total family resources, in
  560  accordance with a nationally recognized system of need analysis.
  561  Using the system of need analysis, the department shall
  562  establish a maximum expected family contribution. An institution
  563  may not make a grant from this program to a student whose
  564  expected family contribution exceeds one and one-half times the
  565  maximum Pell Grant-eligible family contribution level
  566  established by the department. An institution may not impose
  567  additional criteria to determine a student’s eligibility to
  568  receive a grant award.
  569         (d) Each participating institution shall report, to the
  570  department by the established date, the eligible students
  571  eligible for the program for to whom grant moneys are disbursed
  572  each academic term. Each institution shall also report to the
  573  department necessary demographic and eligibility data for such
  574  students.
  575         (3) Based on the unmet financial need of an eligible
  576  applicant, the amount of a Florida postsecondary student
  577  assistance grant must be between $200 and the average cost of
  578  tuition and other registration fees for 30 credit hours at state
  579  universities plus $1,000 per academic year or the amount
  580  specified in the General Appropriations Act.
  581         (4)(a) The funds appropriated for the Florida Postsecondary
  582  Student Assistance Grant shall be distributed to eligible
  583  institutions in accordance with a formula approved by the State
  584  Board of Education. The formula must shall consider at least the
  585  prior year’s distribution of funds, the number of full-time
  586  eligible applicants who did not receive awards, the
  587  standardization of the expected family contribution, and
  588  provisions for unused funds. The formula must account for
  589  changes in the number of eligible students across all student
  590  assistance grant programs established pursuant to this section
  591  and ss. 1009.50, 1009.505, and 1009.51.
  592         (b) Payment of Florida postsecondary student assistance
  593  grants shall be transmitted to the president of the eligible
  594  institution, or to his or her representative, in advance of the
  595  registration period. Institutions shall notify students of the
  596  amount of their awards.
  597         (c) The eligibility status of each student to receive a
  598  disbursement shall be determined by each institution as of the
  599  end of its regular registration period, inclusive of a drop-add
  600  period. Institutions shall not be required to reevaluate a
  601  student’s eligibility status after this date for purposes of
  602  changing eligibility determinations previously made.
  603         (d) Institutions shall certify to the department within 30
  604  days after the end of regular registration each term the amount
  605  of funds disbursed to each student and shall remit to the
  606  department any undisbursed advances within 60 days after the end
  607  of regular registration each spring term by June 1 of each year.
  608  An exception to the remittance deadline may be granted if the
  609  institution documents to the department how it plans to disburse
  610  awards to students for the subsequent summer term. An
  611  institution that uses funds for the summer term shall certify to
  612  the department the amount of funds disbursed to each student and
  613  shall remit to the department any undisbursed advances within 30
  614  days after the end of the summer term.
  615         (e) Each institution that receives moneys through the
  616  Florida Postsecondary Student Assistance Grant Program shall
  617  prepare a biennial report that includes a financial audit,
  618  conducted by an independent certified public accountant, of the
  619  institution’s administration of the program and a complete
  620  accounting of moneys in the State Student Financial Assistance
  621  Trust Fund allocated to the institution for the program. Such
  622  report shall be submitted to the department by March 1 every
  623  other year. The department may conduct its own annual or
  624  biennial audit of an institution’s administration of the program
  625  and its allocated funds in lieu of the required biennial report
  626  and financial audit report. The department may suspend or revoke
  627  an institution’s eligibility to receive future moneys from the
  628  trust fund for the program or request a refund of any moneys
  629  overpaid to the institution through the trust fund for the
  630  program if the department finds that an institution has not
  631  complied with the provisions of this section. Any refund
  632  requested pursuant to this paragraph shall be remitted within 60
  633  days after notification by the department.
  634         (5) Any institution that was eligible to receive state
  635  student assistance grants on January 1, 1989, and that is not
  636  eligible to receive grants pursuant to s. 1009.51 is eligible to
  637  receive grants pursuant to this section.
  638         (6) Funds appropriated by the Legislature for Florida
  639  postsecondary student assistance grants may be deposited in the
  640  State Student Financial Assistance Trust Fund. Notwithstanding
  641  the provisions of s. 216.301 and pursuant to s. 216.351, any
  642  balance in the trust fund at the end of any fiscal year which
  643  has been allocated to the Florida Postsecondary Student
  644  Assistance Grant Program shall remain therein and shall be
  645  available for carrying out the purposes of this section and as
  646  otherwise provided by law.
  647         (7) The State Board of Education shall adopt rules
  648  necessary to implement this section.
  649         Section 9. Subsections (2), (4), (5), and (6) of section
  650  1009.893, Florida Statutes, are amended to read:
  651         1009.893 Benacquisto Scholarship Program.—
  652         (2) The Benacquisto Scholarship Program is created to
  653  reward a high school graduate who receives recognition as a
  654  National Merit Scholar or National Achievement Scholar and who
  655  initially enrolls in the 2014-2015 academic year or, later, in a
  656  baccalaureate degree program at an eligible Florida public or
  657  independent postsecondary educational institution.
  658         (4) In order to be eligible for an initial award under the
  659  scholarship program, a student must meet the requirements of
  660  paragraph (a) or paragraph (b).
  661         (a) A student who is a resident of this state, as
  662  determined in s. 1009.40 and rules of the State Board of
  663  Education, must:
  664         1. Earn a standard Florida high school diploma or its
  665  equivalent pursuant to s. 1002.3105, s. 1003.4281, s. 1003.4282,
  666  or s. 1003.435 unless:
  667         a. The student completes a home education program according
  668  to s. 1002.41; or
  669         b. The student earns a high school diploma from a non
  670  Florida school while living with a parent who is on military or
  671  public service assignment out of this state;
  672         2. Be accepted by and enroll in a Florida public or
  673  independent postsecondary educational institution that is
  674  regionally accredited; and
  675         3. Be enrolled full-time in a baccalaureate degree program
  676  at an eligible regionally accredited Florida public or
  677  independent postsecondary educational institution during the
  678  fall academic term following high school graduation.
  679         (b) A student who initially enrolls in a baccalaureate
  680  degree program in the 2018-2019 academic year or later and who
  681  is not a resident of this state, as determined in s. 1009.40 and
  682  rules of the State Board of Education, must:
  683         1. Physically reside in this state on or near the campus of
  684  the postsecondary educational institution in which the student
  685  is enrolled;
  686         2. Earn a high school diploma from a school outside Florida
  687  which is comparable to a standard Florida high school diploma or
  688  its equivalent pursuant to s. 1002.3105, s. 1003.4281, s.
  689  1003.4282, or s. 1003.435 or must complete a home education
  690  program in another state; and
  691         3. Be accepted by and enrolled full-time in a baccalaureate
  692  degree program at an eligible regionally accredited Florida
  693  public or independent postsecondary educational institution
  694  during the fall academic term following high school graduation.
  695         (5)(a)1. An eligible student who meets the requirements of
  696  paragraph (4)(a), who is a National Merit Scholar or National
  697  Achievement Scholar, and who attends a Florida public
  698  postsecondary educational institution shall receive a
  699  scholarship award equal to the institutional cost of attendance
  700  minus the sum of the student’s Florida Bright Futures
  701  Scholarship and National Merit Scholarship or National
  702  Achievement Scholarship.
  703         2. An eligible student who meets the requirements of
  704  paragraph (4)(b), who is a National Merit Scholar, and who
  705  attends a Florida public postsecondary educational institution
  706  shall receive a scholarship award equal to the institutional
  707  cost of attendance for a resident of this state minus the
  708  student’s National Merit Scholarship. Such student is exempt
  709  from the payment of out-of-state fees.
  710         (b) An eligible student who is a National Merit Scholar or
  711  National Achievement Scholar and who attends a Florida
  712  independent postsecondary educational institution shall receive
  713  a scholarship award equal to the highest cost of attendance for
  714  a resident of this state enrolled at a Florida public
  715  university, as reported by the Board of Governors of the State
  716  University System, minus the sum of the student’s Florida Bright
  717  Futures Scholarship and National Merit Scholarship or National
  718  Achievement Scholarship.
  719         (6)(a) To be eligible for a renewal award, a student must
  720  be enrolled full time, earn all credits for which he or she was
  721  enrolled, and maintain a 3.0 or higher grade point average. An
  722  eligible Benacquisto Scholar who has fewer than 12 credits
  723  remaining to complete his or her first baccalaureate degree may
  724  receive funding for one term in order to complete the degree.
  725         (b) A student’s renewal status is not affected by
  726  subsequent changes in the residency status of the student or the
  727  residency status of the student’s family.
  728         (c)(b) A student may receive the scholarship award for a
  729  maximum of 100 percent of the number of credit hours required to
  730  complete a baccalaureate degree program, or until completion of
  731  a baccalaureate degree program, whichever comes first.
  732         (d) A student may receive an award for up to 5 years
  733  following high school graduation and may not receive the award
  734  for more than 10 semesters.
  735         (e) A student who receives an award under this program and
  736  fails to meet the renewal requirements due to a verifiable
  737  illness or other documented emergency may be granted an
  738  exception pursuant to s. 1009.40(1)(b)4.
  739         Section 10. Section 1011.45, Florida Statutes, is amended
  740  to read:
  741         1011.45 End of year balance of funds.—Unexpended amounts in
  742  any fund in a university current year operating budget shall be
  743  carried forward and included as the balance forward for that
  744  fund in the approved operating budget for the following year.
  745         (1) Each university shall maintain a minimum carry forward
  746  balance of at least 7 percent of its state operating budget. If
  747  a university fails to maintain a 7 percent balance in state
  748  operating funds, the university shall submit a plan to the Board
  749  of Governors to attain the 7 percent balance of state operating
  750  funds within the next fiscal year.
  751         (2) Each university that retains a state operating fund
  752  carry forward balance in excess of the 7 percent minimum shall
  753  submit a spending plan for its excess carry forward balance. The
  754  spending plan shall be submitted to the university’s board of
  755  trustees for review, approval, or, if necessary, amendment by
  756  September 30 1, 2020, and each September 30 1 thereafter. The
  757  Board of Governors shall review, approve, and amend, if
  758  necessary, each university’s carry forward spending plan by
  759  November 15 October 1, 2020, and each November 15 October 1
  760  thereafter.
  761         (3) A university’s carry forward spending plan shall
  762  include the estimated cost per planned expenditure and a
  763  timeline for completion of the expenditure. Authorized
  764  expenditures in a carry forward spending plan may include:
  765         (a) Commitment of funds to a public education capital
  766  outlay project for which an appropriation has previously been
  767  provided that requires additional funds for completion and which
  768  is included in the list required by s. 1001.706(12)(d);
  769         (b) Completion of a renovation, repair, or maintenance
  770  project that is consistent with the provisions of s. 1013.64(1),
  771  up to $5 million per project, and replacement of a minor
  772  facility that does not exceed 10,000 gross square feet in size
  773  up to $2 million;
  774         (c) Completion of a remodeling or infrastructure project,
  775  including a project for a development research school, up to $10
  776  million per project, if such project is survey recommended
  777  pursuant to s. 1013.31;
  778         (d) Completion of a repair or replacement project necessary
  779  due to damage caused by a natural disaster for buildings
  780  included in the inventory required pursuant to s. 1013.31;
  781         (e) Operating expenditures that support the university
  782  mission and that are nonrecurring; and
  783         (f) Any purpose specified by the board or in the General
  784  Appropriations Act; and
  785         (g)A commitment of funds to a contingency reserve to
  786  assist in addressing unforeseen circumstances that may arise,
  787  including natural disasters and other emergencies.
  788         (4) Annually, by September 30, the chief financial officer
  789  of each university shall certify the unexpended amount of funds
  790  appropriated to the university from the General Revenue Fund,
  791  the Educational Enhancement Trust Fund, and the
  792  Education/General Student and Other Fees Trust Fund as of June
  793  30 of the previous fiscal year.
  794         (5) A university may spend the minimum carry forward
  795  carryforward balance of 7 percent if a demonstrated emergency
  796  exists and the plan is approved by the university’s board of
  797  trustees and the Board of Governors.
  798         Section 11. Subsection (3) of section 1012.976, Florida
  799  Statutes, is amended to read:
  800         1012.976 Remuneration of state university administrative
  801  employees; limitations.—
  802         (3) EXCEPTIONS.—This section does not prohibit any party
  803  from providing cash or cash-equivalent compensation from funds
  804  that are not appropriated state funds to a state university
  805  administrative employee in excess of the limit in subsection
  806  (2). If a party is unable or unwilling to fulfill an obligation
  807  to provide cash or cash-equivalent compensation to a state
  808  university administrative employee as permitted under this
  809  subsection, appropriated state funds may not be used to fulfill
  810  such obligation. This section does not apply to university
  811  teaching faculty or medical school faculty or staff. The Board
  812  of Governors shall define in regulation the university faculty
  813  and administrative personnel classifications.
  814         Section 12. Paragraph (b) of subsection (2), paragraph (b)
  815  of subsection (3), and subsection (4) of section 1013.841,
  816  Florida Statutes, are amended to read:
  817         1013.841 End of year balance of Florida College System
  818  institution funds.—
  819         (2)(b) Each Florida College System institution with a final
  820  FTE less than 15,000 for the prior year that retains a state
  821  operating fund carry forward balance in excess of the 5 percent
  822  minimum shall submit a spending plan for its excess carry
  823  forward balance. The spending plan shall include all excess
  824  carry forward funds from state operating funds. The spending
  825  plan shall be submitted to the Florida College System
  826  institution’s board of trustees for approval by September 30 1,
  827  2020, and each September 30 1 thereafter. The State Board of
  828  Education shall review and publish each Florida College System
  829  institution’s carry forward spending plan by November 15 October
  830  1, 2020, and each November 15 October 1 thereafter.
  831         (3)(b) Each Florida College System institution with a final
  832  FTE of 15,000 or greater for the prior year that retains a state
  833  operating fund carry forward balance in excess of the 7 percent
  834  minimum shall submit a spending plan for its excess carry
  835  forward balance. The spending plan shall include all excess
  836  carry forward funds from state operating funds. The spending
  837  plan shall be submitted to the Florida College System
  838  institution’s board of trustees for approval by September 30 1,
  839  2020, and each September 30 1 thereafter. The State Board of
  840  Education shall review and publish each Florida College System
  841  institution’s carry forward spending plan by November 15 October
  842  1, 2020, and each November 15 October 1 thereafter.
  843         (4) A Florida College System institution identified in
  844  paragraph (3)(a) must include in its carry forward spending plan
  845  the estimated cost per planned expenditure and a timeline for
  846  completion of the expenditure. Authorized expenditures in a
  847  carry forward spending plan may include:
  848         (a) Commitment of funds to a public education capital
  849  outlay project for which an appropriation was previously
  850  provided, which requires additional funds for completion, and
  851  which is included in the list required by s. 1001.03(18)(d);
  852         (b) Completion of a renovation, repair, or maintenance
  853  project that is consistent with the provisions of s. 1013.64(1),
  854  up to $5 million per project;
  855         (c) Completion of a remodeling or infrastructure project,
  856  up to $10 million per project, if such project is survey
  857  recommended pursuant to s. 1013.31;
  858         (d) Completion of a repair or replacement project necessary
  859  due to damage caused by a natural disaster for buildings
  860  included in the inventory required pursuant to s. 1013.31;
  861         (e) Operating expenditures that support the Florida College
  862  System institution’s mission which are nonrecurring; and
  863         (f) Any purpose approved by the state board or specified in
  864  the General Appropriations Act; and
  865         (g)A commitment of funds to a contingency reserve to
  866  assist in addressing unforeseen circumstances that may arise,
  867  including natural disasters and other emergencies.
  868         Section 13. This act shall take effect July 1, 2020.
  869  
  870  ================= T I T L E  A M E N D M E N T ================
  871  And the title is amended as follows:
  872         Delete everything before the enacting clause
  873  and insert:
  874                        A bill to be entitled                      
  875         An act relating to postsecondary education; amending
  876         s. 1001.03, F.S.; clarifying requirements for new
  877         construction, remodeling, or renovation projects;
  878         amending s. 1001.7065, F.S.; requiring that certain
  879         academic and research excellence standards be reported
  880         annually in the accountability plan prepared by the
  881         Board of Governors; revising the academic and research
  882         excellence standards established for the preeminent
  883         state research universities program; removing
  884         references to the emerging preeminence designation;
  885         establishing criteria for identifying state
  886         universities of distinction, rather than programs of
  887         excellence, throughout the State University System;
  888         authorizing the Board of Governors to annually submit,
  889         by a specified date, the programs for funding by the
  890         Legislature; amending s. 1004.085, F.S.; requiring
  891         certain innovative pricing techniques and payment
  892         options to contain an opt-out provision for students;
  893         amending s. 1004.346, F.S.; deleting a provision
  894         related to terms of Phosphate Research and Activities
  895         Board members; amending s. 1009.50, F.S.; revising a
  896         provision relating to the maximum annual grant amount;
  897         providing that students who receive a grant award in
  898         the fall or spring term may also receive an award in
  899         the summer term, subject to availability of funds;
  900         prohibiting institutions from dispensing grants to
  901         students whose expected family contribution exceeds a
  902         certain amount; requiring that the formula used to
  903         distribute funds for the program account for changes
  904         in the number of eligible students across all student
  905         assistance grant programs; requiring institutions to
  906         certify the amount of funds disbursed within a certain
  907         timeframe; requiring institutions to remit any
  908         undisbursed advances within a specified timeframe;
  909         providing an exception; requiring institutions that
  910         receive moneys through the program to submit to the
  911         department by a specified date a biennial report that
  912         includes a financial audit conducted by the Auditor
  913         General; authorizing the department to conduct its own
  914         annual or biennial audit under certain circumstances;
  915         authorizing the department to suspend or revoke an
  916         institution’s eligibility or request a refund of
  917         moneys overpaid to the institution under certain
  918         circumstances; providing a timeframe for such refunds;
  919         amending s. 1009.505, F.S.; requiring that grant
  920         awards administered through the Florida Public
  921         Postsecondary Career Education Student Assistance
  922         Grant Program not exceed a certain amount; providing
  923         that students who receive a grant award in the fall or
  924         spring term may also receive an award in the summer
  925         term, subject to the availability of funds; requiring
  926         the formula used to distribute funds for the program
  927         to account for changes in the number of eligible
  928         students across all student assistance grant programs;
  929         requiring institutions to certify within a certain
  930         timeframe the amount of funds disbursed; requiring
  931         institutions to remit within a specified timeframe any
  932         undisbursed advances; providing an exception;
  933         requiring institutions that receive moneys through the
  934         program to submit to the department by a specified
  935         date a biennial report that includes a financial audit
  936         conducted by the Auditor General; authorizing the
  937         department to conduct its own annual or biennial audit
  938         under certain circumstances; authorizing the
  939         department to suspend or revoke an institution’s
  940         eligibility or to request a refund of moneys overpaid
  941         to the institution under certain circumstances;
  942         authorizing funds appropriated for state student
  943         assistance grants to be deposited in a specified trust
  944         fund; requiring that any balance in the trust fund at
  945         the end of a fiscal year which has been allocated to
  946         the Florida Public Postsecondary Career Education
  947         Student Assistance Grant Program remain therein,
  948         subject to certain statutory exceptions; amending s.
  949         1009.51, F.S.; requiring that grant awards
  950         administered through the Florida Private Student
  951         Assistance Grant Program not exceed the maximum annual
  952         award amount specified in the General Appropriations
  953         Act; providing that students who receive an award in
  954         the fall or spring term may also receive an award in
  955         the summer term, subject to the availability of funds;
  956         prohibiting institutions from dispensing grants to
  957         students whose expected family contribution exceeds a
  958         certain amount; requiring that the formula used to
  959         distribute funds for the program account for changes
  960         in the number of eligible students across all student
  961         assistance grant programs; requiring institutions to
  962         certify within a certain timeframe the amount of funds
  963         disbursed; requiring institutions to remit within a
  964         specified timeframe any undisbursed advances;
  965         providing an exception; revising a requirement for a
  966         biennial report; amending s. 1009.52, F.S.; requiring
  967         that grants administered through the Florida
  968         Postsecondary Student Assistance Grant Program not
  969         exceed a certain annual award amount; providing that
  970         students who receive a grant award in the fall or
  971         spring term may also receive an award in the summer
  972         term, subject to the availability of funds;
  973         prohibiting institutions from dispensing grants to
  974         students whose expected family contribution exceeds a
  975         certain amount; requiring that the formula used to
  976         distribute funds for the program account for changes
  977         in the number of eligible students across all student
  978         assistance grant programs; requiring institutions to
  979         certify within a certain timeframe the amount of funds
  980         disbursed; requiring institutions to remit within a
  981         specified timeframe any undisbursed advances;
  982         providing an exception; revising a requirement for a
  983         biennial report; amending s. 1009.893, F.S.;
  984         specifying eligibility for initial awards under the
  985         Benacquisto Scholarship Program; revising requirements
  986         for a student to receive a renewal award; providing a
  987         timeframe within which students can receive an award;
  988         providing an exception to renewal requirements;
  989         amending s. 1011.45, F.S.; revising the date by which
  990         a spending plan must be submitted to a university’s
  991         board of trustees for approval; revising the date by
  992         which the Board of Governors must review and approve
  993         such spending plan; authorizing certain expenditures
  994         in a carry forward spending plan to include a
  995         commitment of funds to a contingency reserve for
  996         certain purposes; amending s. 1012.976, F.S.;
  997         requiring the Board of Governors to adopt regulations
  998         defining university faculty and administrative
  999         personnel classifications; amending s. 1013.841, F.S.;
 1000         revising the dates by which a spending plan must be
 1001         submitted to a Florida College System institution’s
 1002         board of trustees for approval; revising the dates by
 1003         which the State Board of Education shall review and
 1004         publish such plans; authorizing certain expenditures
 1005         in a carry forward spending plan to include a
 1006         commitment of funds to a contingency reserve for
 1007         certain purposes; providing an effective date.