CS/CS/HB 547 — Stanley G. Tate Florida Prepaid College Program
by Education Committee; Higher Education and Career Readiness Subcommittee; and Rep. Clemons and others (CS/CS/SB 464 by Appropriations Committee; Education Committee; and Senators Flores and Montford)
This summary is provided for information only and does not represent the opinion of any Senator, Senate Officer, or Senate Office.
Prepared by: Education Committee (ED)
The bill authorizes the qualified beneficiary of an advance payment contract under the Stanley G. Tate Florida Prepaid College Program at a:
- State university to use the fees associated with a dormitory residence plan to cover the costs of housing provided by a qualified nonprofit organization that is approved by the state university.
- Florida College System (FCS) institution to use the fees associated with a dormitory residence plan to cover the costs of housing provided by a qualified nonprofit organization that is approved by the FCS institution.
The bill defines a “qualified nonprofit organization” as a nonprofit organization under s. 501(c)(3) of the Internal Revenue Code that provides dormitories or residency opportunities to full-time students at an FCS institution or state university, primarily supports students that lack financial resources, and has been approved by the Florida Prepaid Board (board) for inclusion in the dormitory residence plan.
The bill specifies that the fees from a dormitory residence plan paid to a qualified nonprofit organization may not exceed the average, rather than maximum, fees charged for state university dormitory residences, or for fees charged for FCS institution or FCS institution direct-support organization (DSO) dormitories or residency opportunities, whichever is less.
The bill also modifies the membership of the board’s DSO to specify that only the chair of the board serves as director of the DSO. In addition, the bill requires that the chair and the executive director of the board appoint four, rather than three, other individuals to serve as directors of the DSO.
If approved by the Governor, these provisions take effect July 1, 2019.
Vote: Senate 39-0; House 114-0