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