Florida Senate - 2019 CS for SB 464 By the Committee on Education; and Senator Flores 581-03243-19 2019464c1 1 A bill to be entitled 2 An act relating to prepaid college plans; amending s. 3 1009.98, F.S.; authorizing the transfer of fees 4 associated with dormitory residency to approved 5 qualified nonprofit organizations under certain 6 circumstances; prohibiting transferred fees from 7 exceeding a specified amount; defining the term 8 “qualified nonprofit organization”; providing an 9 effective date. 10 11 Be It Enacted by the Legislature of the State of Florida: 12 13 Section 1. Paragraph (d) of subsection (2) of section 14 1009.98, Florida Statutes, is amended to read: 15 1009.98 Stanley G. Tate Florida Prepaid College Program.— 16 (2) PREPAID COLLEGE PLANS.—At a minimum, the board shall 17 make advance payment contracts available for two independent 18 plans to be known as the Florida College System institution plan 19 and the university plan. The board may also make advance payment 20 contracts available for a dormitory residence plan. The board 21 may restrict the number of participants in the Florida College 22 System institution plan, university plan, and dormitory 23 residence plan, respectively. However, any person denied 24 participation solely on the basis of such restriction shall be 25 granted priority for participation during the succeeding year. 26 (d)1. Through the dormitory residence plan, the advance 27 payment contract may provide prepaid housing fees for a maximum 28 of 10 semesters of full-time undergraduate enrollment in a state 29 university. Dormitory residence plans must
shallbe purchased in 30 increments of 2 semesters. The cost of participation in the 31 dormitory residence plan shall be based primarily on the average 32 current and projected housing fees within the State University 33 System and the number of years expected to elapse between the 34 purchase of the plan on behalf of a qualified beneficiary and 35 the exercise of the benefits provided in the plan by such 36 beneficiary. Qualified beneficiaries shall have the highest 37 priority in the assignment of housing within university 38 residence halls. Qualified beneficiaries shall bear the cost of 39 any additional elective charges such as laundry service or long 40 distance telephone service. Each state university may specify 41 the residence halls or other university-held residences eligible 42 for inclusion in the plan. In addition, any state university may 43 request immediate termination of a dormitory residence contract 44 based on a violation or multiple violations of rules of the 45 residence hall or other university-held residences. In the event 46 that sufficient housing is not available for all qualified 47 beneficiaries, the board shall refund the purchaser or qualified 48 beneficiary an amount equal to the fees charged for dormitory 49 residence during that semester. If a qualified beneficiary is 50 admitted to the state university and finds housing with a 51 qualified nonprofit organization, as defined in subparagraph 2., 52 that is approved by the state university, the state university 53 may transfer or cause to have transferred to the qualified 54 nonprofit organization the fees associated with dormitory 55 residence. If a qualified beneficiary fails to be admitted to a 56 state university or chooses to attend a Florida College System 57 institution that operates one or more dormitories or residency 58 opportunities, or has one or more dormitories or residency 59 opportunities operated by the Florida College System institution 60 direct-support organization, the qualified beneficiary may 61 transfer or cause to have transferred to the Florida College 62 System institution, or Florida College System institution 63 direct-support organization, the fees associated with dormitory 64 residence. If a qualified beneficiary attends a Florida College 65 System institution and finds housing with a qualified nonprofit 66 organization, as defined in subparagraph 2., that is approved by 67 the Florida College System institution, the Florida College 68 System institution may transfer or cause to have transferred to 69 the qualified nonprofit organization the fees associated with 70 dormitory residence. Dormitory fees transferred to a theFlorida 71 College System institution, orFlorida College System 72 institution direct-support organization, or qualified nonprofit 73 organization may not exceed the average maximumfees charged for 74 state university dormitory residence for the purposes of this 75 section, or the fees charged for Florida College System 76 institution or Florida College System institution direct-support 77 organization dormitories or residency opportunities, whichever 78 is less. 79 2. For purposes of this paragraph, the term “qualified 80 nonprofit organization” means a nonprofit organization under s. 81 501(c)(3) of the United States Internal Revenue Code which 82 provides one or more dormitories or residency opportunities to 83 students enrolled full-time in a state university or Florida 84 College System institution, primarily supports students that 85 lack financial resources, and has been approved by the board for 86 inclusion in the plan. 87 Section 2. This act shall take effect July 1, 2019.