Florida Senate - 2019                                     SB 464
       By Senator Flores
       39-00814-19                                            2019464__
    1                        A bill to be entitled                      
    2         An act relating to prepaid college plans; amending s.
    3         1009.98, F.S.; authorizing each state university to
    4         specify the qualified nonprofit organizations that may
    5         receive prepaid dormitory residence plan fees;
    6         authorizing a qualified beneficiary to transfer or
    7         cause to have transferred the fees associated with
    8         dormitory residence to certain Florida College System
    9         institutions, Florida College System institution
   10         direct-support organizations, or qualified nonprofit
   11         organizations; defining the term “qualified nonprofit
   12         organization”; specifying that dormitory fees
   13         transferred to a qualified nonprofit organization may
   14         not exceed a certain limitation; making technical
   15         changes; providing an effective date.
   17  Be It Enacted by the Legislature of the State of Florida:
   19         Section 1. Paragraph (d) of subsection (2) of section
   20  1009.98, Florida Statutes, is amended to read:
   21         1009.98 Stanley G. Tate Florida Prepaid College Program.—
   22         (2) PREPAID COLLEGE PLANS.—At a minimum, the board shall
   23  make advance payment contracts available for two independent
   24  plans to be known as the Florida College System institution plan
   25  and the university plan. The board may also make advance payment
   26  contracts available for a dormitory residence plan. The board
   27  may restrict the number of participants in the Florida College
   28  System institution plan, university plan, and dormitory
   29  residence plan, respectively. However, any person denied
   30  participation solely on the basis of such restriction shall be
   31  granted priority for participation during the succeeding year.
   32         (d)1. Through the dormitory residence plan, the advance
   33  payment contract may provide prepaid housing fees for a maximum
   34  of 10 semesters of full-time undergraduate enrollment in a state
   35  university. Dormitory residence plans must shall be purchased in
   36  increments of 2 semesters. The cost of participation in the
   37  dormitory residence plan shall be based primarily on the average
   38  current and projected housing fees within the State University
   39  System and the number of years expected to elapse between the
   40  purchase of the plan on behalf of a qualified beneficiary and
   41  the exercise of the benefits provided in the plan by such
   42  beneficiary. Qualified beneficiaries shall have the highest
   43  priority in the assignment of housing within university
   44  residence halls. Qualified beneficiaries shall bear the cost of
   45  any additional elective charges such as laundry service or long
   46  distance telephone service. Each state university may specify
   47  the residence halls or other university-held residences eligible
   48  for inclusion in the plan. Each state university may specify
   49  qualified nonprofit organizations as defined in sub-sub
   50  subparagraph 2.a.(III) which may receive prepaid dormitory
   51  residence plan fees. In addition, any state university may
   52  request immediate termination of a dormitory residence contract
   53  based on a violation or multiple violations of rules of the
   54  residence hall or other university-held residences. In the event
   55  that sufficient housing is not available for all qualified
   56  beneficiaries, the board shall refund the purchaser or qualified
   57  beneficiary an amount equal to the fees charged for dormitory
   58  residence during that semester.
   59         2.a. If a qualified beneficiary fails to be admitted to a
   60  state university or chooses to attend a Florida College System
   61  institution that operates one or more dormitories or residency
   62  opportunities, or has one or more dormitories or residency
   63  opportunities operated by the Florida College System institution
   64  direct-support organization, the qualified beneficiary may
   65  transfer or cause to have transferred the fees associated with
   66  dormitory residence to:
   67         (I) A the Florida College System institution that operates
   68  one or more dormitories or residency opportunities;, or
   69         (II) A Florida College System institution direct-support
   70  organization that operates one or more dormitories or residency
   71  opportunities; or,
   72         (III) A qualified nonprofit organization the fees
   73  associated with dormitory residence. For the purposes of this
   74  paragraph, the term “qualified nonprofit organization” means a
   75  nonprofit organization under s. 501(c)(3) of the Internal
   76  Revenue Code which provides student living housing on or near
   77  the campus of a Florida College System institution or state
   78  university to full-time students of that institution.
   79         b. Dormitory fees transferred to the Florida College System
   80  institution, or Florida College System institution direct
   81  support organization, or qualified nonprofit organization may
   82  not exceed the maximum fees charged for state university
   83  dormitory residence for the purposes of this section, or the
   84  fees charged for Florida College System institution or Florida
   85  College System institution direct-support organization
   86  dormitories or residency opportunities, whichever is less.
   87         Section 2. This act shall take effect July 1, 2019.