Creates a fund for the purpose of funding tuition exemptions and reduction of textbook costs for persons who are age fifty-five or older (EN INCREASE SD RV See Note)
Impact
The introduction of HB 499 aims to positively affect state laws by enhancing educational opportunities for senior citizens and acknowledging the importance of lifelong learning. The PRIME Fund, overseen by the Board of Regents, will ensure that state resources are allocated efficiently for these purposes. By decreasing financial barriers for older students, the bill may encourage more seniors to participate in educational programs, which can lead to improved skills, personal development, and community engagement. Furthermore, the fund is designed to be supplementary to existing allocations received by educational institutions, thereby protecting existing funding structures.
Summary
House Bill 499 is a legislative proposal designed to support individuals aged fifty-five and older by providing them with significant financial benefits regarding their postsecondary education. The bill establishes the Pursuing Rewarding, Innovative, and Meaningful Education (PRIME) Fund, which is dedicated to funding tuition exemptions and reducing textbook costs for eligible senior residents who enroll in public colleges or universities within the state. Specifically, it mandates a full exemption from tuition and a fifty percent reduction in the cost of required textbooks for these students, thereby promoting educational access and affordability for an older demographic that may face financial limitations in obtaining higher education.
Sentiment
The sentiment around HB 499 appears to be largely favorable, particularly among advocates for senior citizens and educational equity. Supporters of the bill emphasize the importance of lifelong education and argue that this initiative can substantially benefit older adults by encouraging their academic pursuits and enhancing their quality of life. However, as with many legislative efforts, there may be contingent concerns regarding budget allocation and the sustainability of the funding, which could result in mixed feelings among fiscal conservatives who prioritize budgetary constraints.
Contention
While overall support for HB 499 seems strong, potential points of contention include concerns surrounding the source of funding and the long-term viability of the PRIME Fund. Critics may question whether the establishment of such a fund will strain the state's financial resources, particularly amidst other funding priorities. Ensuring that the fund can adequately meet the anticipated demand without compromising the financial health of the state's education budget remains a critical consideration for lawmakers.
Creates the Louisiana Jobs Now Fund for the purpose of funding postsecondary education degree and certificate production in high-demand fields (EG +$21,000,000 SD RV See Note)
Creates a fund for the purpose of funding the out-of-state tuition of certain students enrolled in certain medical education programs when such medical education programs are not offered in Louisiana. (gov sig) (EN INCREASE SD RV See Note)
Creates the Louisiana Jobs Now Fund for the purpose of funding postsecondary education degree and certificate production in high-demand fields (EN SEE FISC NOTE SD EX See Note)
Provides for a Board of Regents program under which postsecondary institutions agree to achieve certain standards in exchange for authority to increase tuition and for exemption from certain limitations (EN INCREASE SG RV See Note)
Creates the Louisiana Cybersecurity Talent Initiative Fund for the purpose of funding degree and certificate programs in cybersecurity fields and the Cybersecurity Education Management Council to advise relative to the fund (RE INCREASE SD EX See Note)