Florida 2022 Regular Session

Florida House Bill H1309 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1
2	2
3	3	HB 1309 2022
4	4
5	5
6	6
7	7	CODING: Words stricken are deletions; words underlined are additions.
8	8	hb1309-00
9	9	Page 1 of 2
10	10	F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
11	11
12	12
13	13
14	14	A bill to be entitled 1
15	15	An act relating to the Historically Black Colleges and 2
16	16	Universities Matching Endowment Scholarship Program; 3
17	17	creating s. 1009.896, F.S.; establishing the 4
18	18	Historically Black Colleges and Universities Matching 5
19	19	Endowment Scholarship Program within the Department of 6
20	20	Education; providing the purpose of the program; 7
21	21	providing for an appropriation; requiring a 8
22	22	Historically Black College or University to provide a 9
23	23	certain amount of matching funds by a specified date 10
24	24	to participate in the program; requiring certain funds 11
25	25	to remain in the trust fund; providing that the 12
26	26	interest will be used to provide scholarships to 13
27	27	certain students; providing for annual disbursement of 14
28	28	the interest; requiring the State Board of Education 15
29	29	to adopt rules; providing an effective date. 16
30	30	17
31	31	Be It Enacted by the Legislature of the State of Florida: 18
32	32	19
33	33	Section 1. Section 1009.896, Florida Statutes, is created 20
34	34	to read: 21
35	35	1009.896 Historically Black Colleges and Universities 22
36	36	Matching Endowment Scholarship Program. — 23
37	37	(1) There is established the Historically Black Colleges 24
38	38	and Universities Matching Endowment Scholarship Program to be 25
39	39
40	40	HB 1309 2022
41	41
42	42
43	43
44	44	CODING: Words stricken are deletions; words underlined are additions.
45	45	hb1309-00
46	46	Page 2 of 2
47	47	F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
48	48
49	49
50	50
51	51	administered by the Department of Education. The program shall 26
52	52	provide funds to participating historically black colleges and 27
53	53	universities in the state to provide scholarships to students 28
54	54	enrolled at the schools. 29
55	55	(2) The Legislature shall appropriate $2 million to be 30
56	56	transferred to the State Student Financial Assistance Trust Fund 31
57	57	for the program. No later than June 30, 2023, each historically 32
58	58	black college and university in the state that wishes to 33
59	59	participate in the program shall provide $500,000 in matching 34
60	60	funds to the department. The department shall depos it such 35
61	61	matching funds into the trust fund. All funds transferred to the 36
62	62	trust fund for the program shall be invested in accordance with 37
63	63	the provisions of chapter 215. Notwithstanding s. 216.301 and 38
64	64	pursuant to s. 216.351, the appropriated funds and all ma tching 39
65	65	funds shall remain in the trust fund and the interest from such 40
66	66	funds shall be used for scholarships for students enrolled at 41
67	67	participating colleges and universities. 42
68	68	(3) Annually, the interest accumulated in the trust fund 43
69	69	for the program shall b e equally allocated by the department to 44
70	70	each participating college and university to award scholarships. 45
71	71	Each participating college and university shall award 46
72	72	scholarships to enrolled students with unmet financial need. 47
73	73	(4) The State Board of Education shall adopt rules 48
74	74	necessary to administer this section. 49
75	75	Section 2. This act shall take effect July 1, 2022. 50