Nebraska 2025-2026 Regular Session

Nebraska Legislature Bill LB598 Compare Versions

Only one version of the bill is available at this time.
OldNewDifferences
11 /(*,6/$785(2)1(%5$6.$
22 21(+81'5('1,17+/(*,6/$785(
33 ),5676(66,21
44 /(*,6/$7,9(%,//
55 b
66 ,QWURGXFHGE\ 'H%RHU
77 5HDGILUVWWLPH-DQXDU\
88 &RPPLWWHH
99 $ %,// )25 $1 $&7 UHODWLQJ WR HGXFDWLRQ WR DPHQG VHFWLRQV 
1010       DQG
1111  5HLVVXH 5HYLVHG 6WDWXWHV RI 1HEUDVND WR SURYLGH IXQGLQJ WR
1212 VFKRRO GLVWULFWV WR FRYHU H[WUDRUGLQDU\ LQFUHDVHV LQ OLPLWHG (QJOLVK
1313 SURILFLHQF\ VWXGHQW H[SHQGLWXUHV WR FKDQJH SURYLVLRQV UHODWLQJ WR
1414 WKH HOHPHQWDU\ VLWH DOORZDQFH DQG FHUWLILFDWLRQ GDWHV XQGHU WKH 7D[
1515 (TXLW\ DQG (GXFDWLRQDO 2SSRUWXQLWLHV 6XSSRUW $FW WR FKDQJH HOLJLEOH
1616 XVHV RI WKH (GXFDWLRQ )XWXUH )XQG WR FKDQJH SURYLVLRQV UHODWLQJ WR
1717 UHLPEXUVHPHQW IRU VSHFLDO HGXFDWLRQ SURJUDPV DQG VXSSRUW VHUYLFHV
1818 DQG SURYLGH DGGLWLRQDO IXQGLQJ WR VFKRRO GLVWULFWV IRU FRVWV
1919 DWWULEXWDEOH WR VWXGHQWV ZLWK D  SODQ WR KDUPRQL]H SURYLVLRQV
2020 WR SURYLGH RSHUDWLYH GDWHV WR UHSHDO WKH RULJLQDO VHFWLRQV DQG WR
2121 GHFODUHDQHPHUJHQF\
2222 %HLWHQDFWHGE\WKHSHRSOHRIWKH6WDWHRI1HEUDVND
2323 /%
2424 
2525 /%
2626 
2727  6HFWLRQ     2Q RU EHIRUH -DQXDU\  RI HDFK VFKRRO ILVFDO \HDU
2828 D VFKRRO GLVWULFW ZLWK H[SHFWHG H[SHQGLWXUHV IRU OLPLWHG (QJOLVK
2929 SURILFLHQF\ VWXGHQWV WKDW WRWDO D  DW OHDVW ILIW\ WKRXVDQG GROODUV
3030 DQQXDOO\RU E RQHKDOISHUFHQWRUPRUHRIVXFKVFKRROGLVWULFWVDQQXDO
3131 EXGJHW ZKLFKHYHU LV JUHDWHU PD\ VXEPLW DQ DSSOLFDWLRQ DV SUHVFULEHG E\
3232 WKH &RPPLVVLRQHU RI (GXFDWLRQ WR WKH 6WDWH 'HSDUWPHQW RI (GXFDWLRQ IRU D
3333 SD\PHQWIURPWKH(GXFDWLRQ)XWXUH)XQGWRFRYHUDQH[WUDRUGLQDU\LQFUHDVH
3434 LQ OLPLWHG (QJOLVK SURILFLHQF\ VWXGHQW H[SHQGLWXUHV SXUVXDQW WR WKH
3535 UHTXLUHPHQWVRIWKLVVHFWLRQ
3636   6XFK DSSOLFDWLRQ VKDOO LQFOXGH WKH OLPLWHG (QJOLVK SURILFLHQF\
3737 VWXGHQW H[SHQGLWXUHV RI WKH DSSOLFDQW VFKRRO GLVWULFW DV RI WKH
3838 LPPHGLDWHO\SUHFHGLQJ'HFHPEHUIRUWKHVFKRROILVFDO\HDULQZKLFKWKH
3939 DSSOLFDWLRQLVVXEPLWWHG
4040   7KH GHSDUWPHQW VKDOO GLYLGH WKH OLPLWHG (QJOLVK SURILFLHQF\
4141 VWXGHQW H[SHQGLWXUHV IRU WKH VFKRRO ILVFDO \HDU LPPHGLDWHO\ SUHFHGLQJ WKH
4242 VFKRRO ILVFDO \HDU LQ ZKLFK DQ DSSOLFDWLRQ LV VXEPLWWHG E\ WZR DQG
4343 PXOWLSO\ WKH UHVXOW E\ RQH KXQGUHG VHYHQ SHUFHQW IRU HDFK DSSOLFDQW
4444 VFKRROGLVWULFW
4545   (DFK DSSOLFDQW VFKRRO GLVWULFW VKDOO TXDOLI\ IRU D PD[LPXP
4646 SD\PHQW HTXDO WR WKH GLIIHUHQFH RI WKH OLPLWHG (QJOLVK SURILFLHQF\
4747 VWXGHQW H[SHQGLWXUHV IRU WKH FXUUHQW VFKRRO ILVFDO \HDU VXEPLWWHG
4848 SXUVXDQW WR VXEVHFWLRQ   RI WKLV VHFWLRQ PLQXV WKH DPRXQW FDOFXODWHG
4949 SXUVXDQW WR VXEVHFWLRQ   RI WKLV VHFWLRQ IRU VXFK VFKRRO GLVWULFW IRU
5050 VXFKVFKRROILVFDO\HDU
5151   7KH GHSDUWPHQW VKDOO PDNH D SD\PHQW WR HDFK DSSOLFDQW VFKRRO
5252 GLVWULFW RQ RU EHIRUH -DQXDU\  IRU WKH VFKRRO ILVFDO \HDU LQ ZKLFK WKH
5353 DSSOLFDWLRQ LV VXEPLWWHG 6XFK SD\PHQW VKDOO HTXDO WKH PD[LPXP SD\PHQW
5454 GHWHUPLQHGSXUVXDQWWRVXEVHFWLRQ  RIWKLVVHFWLRQH[FHSWWKDWLIWKH
5555 VXP RI DOO PD[LPXP SD\PHQWV IRU DSSOLFDQW VFKRRO GLVWULFWV IRU VXFK
5656 VFKRRO ILVFDO \HDU H[FHHGV WKH DYDLODEOH EDODQFH IRU VXFK SXUSRVH LQ WKH
5757 (GXFDWLRQ )XWXUH )XQG HDFK SD\PHQW VKDOO EH UHGXFHG SURSRUWLRQDOO\ VR
5858 /%
5959 
6060 /%
6161 
6262  WKDW WKH VXP RI DOO SD\PHQWV IRU DSSOLFDQW VFKRRO GLVWULFWV IRU VXFK
6363 VFKRRO ILVFDO \HDU HTXDOV WKH DYDLODEOH EDODQFH IRU VXFK SXUSRVH LQ WKH
6464 IXQG
6565 6HF  6HFWLRQ  5HLVVXH 5HYLVHG 6WDWXWHV RI 1HEUDVND LV
6666 DPHQGHGWRUHDG
6767    )RU VFKRRO ILVFDO \HDU  WKH GHSDUWPHQW VKDOO
6868 FDOFXODWH DQ HOHPHQWDU\ VLWH DOORZDQFH IRU DQ\ GLVWULFW LQ ZKLFK D  WKH
6969 GLVWULFW KDV PRUH WKDQ RQH HOHPHQWDU\ DWWHQGDQFH VLWH E  DW OHDVW RQH
7070 RI WKH HOHPHQWDU\ DWWHQGDQFH VLWHV GRHV QRW RIIHU DQ\ RWKHU JUDGHV F 
7171 WKH VTXDUH PLOHV LQ WKH GLVWULFW GLYLGHG E\ WKH QXPEHU RI HOHPHQWDU\
7272 DWWHQGDQFH VLWHV LQ WKH GLVWULFW HTXDOV RQH KXQGUHG VTXDUH PLOHV RU PRUH
7373 SHUHOHPHQWDU\DWWHQGDQFHVLWHDQG G WKHIDOOPHPEHUVKLSLQHOHPHQWDU\
7474 VLWH JUDGHV LQ WKH GLVWULFW GLYLGHG E\ WKH QXPEHU RI HOHPHQWDU\ VLWH
7575 JUDGHV WKHQ GLYLGHG DJDLQ E\ WKH QXPEHU RI HOHPHQWDU\ DWWHQGDQFH VLWHV
7676 HTXDOV ILIWHHQ RU IHZHU VWXGHQWV SHU JUDGH SHU HOHPHQWDU\ DWWHQGDQFH
7777 VLWH 4XDOLI\LQJ HOHPHQWDU\ DWWHQGDQFH VLWHV IRU VXFK GLVWULFWV VKDOO
7878 RQO\RIIHUHOHPHQWDU\VLWHJUDGHVDQGVKDOOKDYHDQDYHUDJHRIILIWHHQRU
7979 IHZHUVWXGHQWVSHUJUDGHLQWKHIDOOPHPEHUVKLS
8080   )RU VFKRRO ILVFDO \HDU  DQG HDFK VFKRRO ILVFDO \HDU
8181 WKHUHDIWHU WKH GHSDUWPHQW VKDOO FDOFXODWH DQ HOHPHQWDU\ VLWH DOORZDQFH
8282 IRU DQ\ GLVWULFW ZKLFK KDV DW OHDVW RQH TXDOLI\LQJ HOHPHQWDU\ DWWHQGDQFH
8383 VLWH DQG ZKLFK VXEPLWV WKH LQIRUPDWLRQ UHTXLUHG IRU WKH FDOFXODWLRQ RQ D
8484 IRUP SUHVFULEHG E\ WKH GHSDUWPHQW RQ RU EHIRUH 2FWREHU  RI WKH VFKRRO
8585 ILVFDO \HDU SUHFHGLQJ WKH VFKRRO ILVFDO \HDU IRU ZKLFK DLG LV EHLQJ
8686 FDOFXODWHG $ TXDOLI\LQJ HOHPHQWDU\ DWWHQGDQFH VLWH VKDOO EH DQ
8787 HOHPHQWDU\ DWWHQGDQFH VLWH LQ D GLVWULFW ZLWK PXOWLSOH HOHPHQWDU\
8888 DWWHQGDQFH VLWHV ZKLFK GRHV QRW KDYH DQRWKHU HOHPHQWDU\ DWWHQGDQFH VLWH
8989 ZLWKLQ VHYHQ PLOHV LQ WKH VDPH VFKRRO GLVWULFW RU ZKLFK LV WKH RQO\
9090 SXEOLF HOHPHQWDU\ DWWHQGDQFH VLWH ORFDWHG LQ DQ LQFRUSRUDWHG FLW\ RU
9191 YLOODJH
9292  D    7KH HOHPHQWDU\ VLWH DOORZDQFH IRU HDFK TXDOLI\LQJ
9393 /%
9494 
9595 /%
9696 
9797  GLVWULFW VKDOO HTXDO WKH VXP RI WKH HOHPHQWDU\ VLWH DOORZDQFHV IRU HDFK
9898 TXDOLI\LQJ HOHPHQWDU\ DWWHQGDQFH VLWH LQ WKH GLVWULFW 7KH HOHPHQWDU\
9999 VLWH DOORZDQFH IRU HDFK TXDOLI\LQJ HOHPHQWDU\ DWWHQGDQFH VLWH VKDOO HTXDO
100100 ILYH KXQGUHG SHUFHQW RI WKH VWDWHZLGH DYHUDJH JHQHUDO IXQG RSHUDWLQJ
101101 H[SHQGLWXUHVSHUIRUPXODVWXGHQWPXOWLSOLHGE\WKHUHVXOWRIURXQGLQJWKH
102102 UDWLRRIWKHIDOOPHPEHUVKLSDWWULEXWHGWRWKHHOHPHQWDU\DWWHQGDQFHVLWH
103103 GLYLGHG E\ HLJKW XS WR WKH QH[W ZKROH QXPEHU LI WKH UHVXOW ZDV QRW D
104104 ZKROH QXPEHU H[FHSW WKDW LI WKH UHVXOWLQJ ZKROH QXPEHU LV JUHDWHU WKDQ
105105 WKH QXPEHU RI HOHPHQWDU\ VLWH JUDGHV WKH ZKROH QXPEHU VKDOO EH UHGXFHG
106106 WRHTXDOWKHQXPEHURIHOHPHQWDU\VLWHJUDGHV
107107 E  $Q HOHPHQWDU\ DWWHQGDQFH VLWH WKDW SURYLGHV DW OHDVW VL[W\
108108 PLQXWHVRISODQQLQJWLPHSHUVFKRROGD\WRLWVHOHPHQWDU\VFKRROWHDFKHUV
109109 VKDOO TXDOLI\ IRU DQ DGGLWLRQDO IXQGLQJ DOORZDQFH DV SDUW RI WKH
110110 HOHPHQWDU\ VLWH DOORZDQFH HTXDO WR RQH KXQGUHG SHUFHQW RI WKH VWDWHZLGH
111111 DYHUDJH JHQHUDO IXQG RSHUDWLQJ H[SHQGLWXUHV SHU IRUPXOD VWXGHQW
112112 PXOWLSOLHG E\ WKH UDWLR RI WKH IDOO PHPEHUVKLS DWWULEXWHG WR WKH
113113 HOHPHQWDU\DWWHQGDQFHVLWHGLYLGHGE\HLJKW
114114  )RUSXUSRVHVRIWKLVVHFWLRQ
115115 D  (DFK GLVWULFW VKDOO GHWHUPLQH ZKLFK JUDGHV DUH FRQVLGHUHG
116116 HOHPHQWDU\ VLWH JUDGHV H[FHSW WKDW L  DOO JUDGHV GHVLJQDWHG DV
117117 HOHPHQWDU\ VLWH JUDGHV VKDOO EH RIIHUHG LQ HDFK HOHPHQWDU\ DWWHQGDQFH
118118 VLWH LQ WKH GLVWULFW ZLWKRXW DQ\ SUHIHUHQFH LQGLFDWHG E\ WKH VFKRRO
119119 ERDUG RU DQ\ VFKRRO GLVWULFW DGPLQLVWUDWRU IRU VWXGHQWV WR DWWHQG
120120 GLIIHUHQW HOHPHQWDU\ DWWHQGDQFH VLWHV GHSHQGLQJ RQ WKHLU HOHPHQWDU\ VLWH
121121 JUDGHOHYHOIRUWKHVFKRROILVFDO\HDUIRUZKLFKDLGLVEHLQJFDOFXODWHG
122122 DQG IRU HDFK RI WKH ILYH VFKRRO ILVFDO \HDUV SUHFHGLQJ WKH VFKRRO ILVFDO
123123 \HDU IRU ZKLFK DLG LV EHLQJ FDOFXODWHG DQG LL  HOHPHQWDU\ VLWH JUDGHV
124124 VKDOOQRWLQFOXGHJUDGHVQLQHWHQHOHYHQRUWZHOYH
125125 E  $Q HOHPHQWDU\ DWWHQGDQFH VLWH LV DQ DWWHQGDQFH VLWH LQ ZKLFK
126126 HOHPHQWDU\VLWHJUDGHVDUHRIIHUHG
127127 F  7KH SULPDU\ HOHPHQWDU\ VLWH VKDOO EH WKH HOHPHQWDU\ DWWHQGDQFH
128128 /%
129129 
130130 /%
131131 
132132  VLWH WR ZKLFK WKH PRVW IRUPXOD VWXGHQWV DUH DWWULEXWHG LQ WKH GLVWULFW
133133 DQGVKDOOQRWEHDTXDOLI\LQJHOHPHQWDU\DWWHQGDQFHVLWHDQG
134134 G  )DOO PHPEHUVKLS PHDQV WKH IDOO PHPEHUVKLS IRU WKH VFKRRO ILVFDO
135135 \HDU LPPHGLDWHO\ SUHFHGLQJ WKH VFKRRO ILVFDO \HDU IRU ZKLFK DLG LV EHLQJ
136136 FDOFXODWHG
137137   ,I WKH HOHPHQWDU\ DWWHQGDQFH VLWH LV QHZ RU LV EHLQJ UHRSHQHG
138138 DIWHU EHLQJ FORVHG IRU DW OHDVW RQH VFKRRO \HDU WKH UHTXLUHPHQWV RI
139139 VXEGLYLVLRQ  D L  RI WKLV VHFWLRQ ZLWK UHVSHFW WR SUHFHGLQJ VFKRRO
140140 ILVFDO \HDUV VKDOO QRW DSSO\ WR VFKRRO ILVFDO \HDUV LQ ZKLFK WKH
141141 HOHPHQWDU\DWWHQGDQFHVLWHZDVQRWLQRSHUDWLRQ
142142   7KH GHSDUWPHQW VKDOO GHWHUPLQH LI WKH TXDOLILFDWLRQV IRU WKH
143143 HOHPHQWDU\ VLWH DOORZDQFH KDYH EHHQ PHW IRU HDFK HOHPHQWDU\ DWWHQGDQFH
144144 VLWHIRUZKLFKLQIRUPDWLRQKDVEHHQVXEPLWWHG7KHGHSDUWPHQWPD\UHO\RQ
145145 WKH LQIRUPDWLRQ VXEPLWWHG DQG DQ\ RWKHU LQIRUPDWLRQ DYDLODEOH WR WKH
146146 GHSDUWPHQW LQFOXGLQJ EXW QRW OLPLWHG WR SDVW DWWHQGDQFH SDWWHUQV 7KH
147147 VWDWH ERDUG VKDOO HVWDEOLVK D SURFHGXUH IRU DSSHDO RI GHFLVLRQV RI WKH
148148 GHSDUWPHQWWRWKHVWDWHERDUGIRUDILQDOGHWHUPLQDWLRQ
149149 6HF  6HFWLRQ  5HLVVXH 5HYLVHG 6WDWXWHV RI 1HEUDVND LV
150150 DPHQGHGWRUHDG
151151    7KH (GXFDWLRQ )XWXUH )XQG LV FUHDWHG 7KH IXQG VKDOO EH
152152 DGPLQLVWHUHG E\ WKH GHSDUWPHQW DQG VKDOO FRQVLVW RI PRQH\ WUDQVIHUUHG WR
153153 WKH IXQG E\ WKH /HJLVODWXUH 7UDQVIHUV PD\ EH PDGH IURP WKH (GXFDWLRQ
154154 )XWXUH )XQG WR WKH &RPSXWHU 6FLHQFH DQG 7HFKQRORJ\ (GXFDWLRQ )XQG DW WKH
155155 GLUHFWLRQ RI WKH /HJLVODWXUH $Q\ PRQH\ LQ WKH (GXFDWLRQ )XWXUH )XQG
156156 DYDLODEOH IRU LQYHVWPHQW VKDOO EH LQYHVWHG E\ WKH VWDWH LQYHVWPHQW
157157 RIILFHU SXUVXDQW WR WKH 1HEUDVND &DSLWDO ([SDQVLRQ $FW DQG WKH 1HEUDVND
158158 6WDWH)XQGV,QYHVWPHQW$FW
159159   7KH IXQG VKDOO EH XVHG RQO\ IRU WKH IROORZLQJ SXUSRVHV LQ RUGHU
160160 RISULRULW\
161161 D  7R IXOO\ IXQG HTXDOL]DWLRQ DLG XQGHU WKH 7D[ (TXLW\ DQG
162162 (GXFDWLRQDO2SSRUWXQLWLHV6XSSRUW$FW
163163 /%
164164 
165165 /%
166166 
167167  E  7R IXQG UHLPEXUVHPHQWV UHODWHG WR VSHFLDO HGXFDWLRQ XQGHU
168168 VHFWLRQ
169169 F  7R IXQG IRXQGDWLRQ DLG XQGHU WKH 7D[ (TXLW\ DQG (GXFDWLRQDO
170170 2SSRUWXQLWLHV6XSSRUW$FW
171171 G  7R LQFUHDVH IXQGLQJ IRU VFKRRO GLVWULFWV LQ D ZD\ WKDW UHVXOWV
172172 LQ GLUHFW SURSHUW\ WD[ UHOLHI ZKLFK PHDQV D GROODUIRUGROODU
173173 UHSODFHPHQWRISURSHUW\WD[HVE\DVWDWHIXQGLQJVRXUFH
174174 H  7R SURYLGH IXQGLQJ IRU D JUDQW SURJUDP FUHDWHG E\ WKH
175175 /HJLVODWXUH WR DGGUHVV WHDFKHU WXUQRYHU UDWHV DQG NHHS H[LVWLQJ WHDFKHUV
176176 LQFODVVURRPV
177177 I  7R SURYLGH IXQGLQJ WR LQFUHDVH FDUHHU DQG WHFKQLFDO HGXFDWLRQDO
178178 FODVVURRP RSSRUWXQLWLHV IRU VWXGHQWV LQFOXGLQJ EXW QRW OLPLWHG WR
179179 FRPSXWHU VFLHQFH HGXFDWLRQ 6XFK IXQGLQJ PXVW SURYLGH VWXGHQWV ZLWK WKH
180180 DFDGHPLF DQG WHFKQLFDO VNLOOV NQRZOHGJH DQG WUDLQLQJ QHFHVVDU\ WR
181181 VXFFHHGLQIXWXUHFDUHHUV
182182 J  7R SURYLGH IXQGLQJ IRU D JUDQW SURJUDP FUHDWHG E\ WKH
183183 /HJLVODWXUHWRSURYLGHVWXGHQWVWKHRSSRUWXQLW\WRKDYHDPHQWRUZKRZLOO
184184 FRQWLQXRXVO\ HQJDJH ZLWK WKH VWXGHQW GLUHFWO\ WR DLG LQ WKH VWXGHQWV
185185 SURIHVVLRQDO JURZWK DQG JLYH RQJRLQJ VXSSRUW DQG HQFRXUDJHPHQW WR WKH
186186 VWXGHQW
187187 K  7R SURYLGH IXQGLQJ IRU H[WUDRUGLQDU\ LQFUHDVHV LQ VSHFLDO
188188 HGXFDWLRQ H[SHQGLWXUHV WR DOORZ VFKRRO GLVWULFWV ZLWK ODUJH XQH[SHFWHG
189189 VSHFLDO HGXFDWLRQ H[SHQGLWXUHV WR PRUH HDVLO\ PHHW WKH QHHGV RI DOO
190190 VWXGHQWV
191191 L  7R SURYLGH IXQGLQJ WR KHOS UHFUXLW WHDFKHUV WKURXJKRXW WKH VWDWH
192192 E\ XWLOL]LQJ DSSUHQWLFHVKLSV WKURXJK D WHDFKHU DSSUHQWLFHVKLS SURJUDP DQG
193193 DQDOWHUQDWLYHFHUWLILFDWLRQSURFHVV
194194 M  7R SURYLGH IXQGLQJ WR GHYHORS DQG LPSOHPHQW D SURIHVVLRQDO
195195 OHDUQLQJ V\VWHP WR KHOS SURYLGH VXVWDLQHG SURIHVVLRQDO OHDUQLQJ DQG
196196 WUDLQLQJ UHJDUGLQJ HYLGHQFHEDVHG UHDGLQJ LQVWUXFWLRQ DQG IRU D JUDQW
197197 SURJUDPUHODWLQJWRG\VOH[LDUHVHDUFK DQG
198198 /%
199199 
200200 /%
201201 
202202  N  7R SURYLGH IXQGLQJ IRU D SLORW SURMHFW DGPLQLVWHUHG E\ WKH 6WDWH
203203 'HSDUWPHQW RI (GXFDWLRQ WR SURYLGH PHQVWUXDO SURGXFWV WR VFKRRO
204204 GLVWULFWV DQG 
205205 O  7R SURYLGH IXQGLQJ IRU VFKRRO GLVWULFWV ZLWK H[WUDRUGLQDU\
206206 H[SHQGLWXUHV IRU OLPLWHG (QJOLVK SURILFLHQF\ VWXGHQWV WR DOORZ VFKRRO
207207 GLVWULFWVZLWKVXFKFRVWVWREHWWHUPHHWWKHQHHGVRIDOOVWXGHQWV
208208  D  7KH 6WDWH 7UHDVXUHU VKDOO WUDQVIHU RQH ELOOLRQ GROODUV IURP
209209 WKH *HQHUDO )XQG WR WKH (GXFDWLRQ )XWXUH )XQG LQ ILVFDO \HDU  RQ
210210 VXFKGDWHVDQGLQVXFKDPRXQWVDVGLUHFWHGE\WKHEXGJHWDGPLQLVWUDWRURI
211211 WKHEXGJHWGLYLVLRQRIWKH'HSDUWPHQWRI$GPLQLVWUDWLYH6HUYLFHV
212212 E  7KH 6WDWH 7UHDVXUHU VKDOO WUDQVIHU WZR KXQGUHG ILIW\ PLOOLRQ
213213 GROODUVIURPWKH*HQHUDO)XQGWRWKH(GXFDWLRQ)XWXUH)XQGLQILVFDO\HDU
214214  RQ VXFK GDWHV DQG LQ VXFK DPRXQWV DV GLUHFWHG E\ WKH EXGJHW
215215 DGPLQLVWUDWRU RI WKH EXGJHW GLYLVLRQ RI WKH 'HSDUWPHQW RI $GPLQLVWUDWLYH
216216 6HUYLFHV
217217 F  ,W LV WKH LQWHQW RI WKH /HJLVODWXUH WKDW WZR KXQGUHG ILIW\
218218 PLOOLRQ GROODUV EH WUDQVIHUUHG IURP WKH *HQHUDO )XQG WR WKH (GXFDWLRQ
219219 )XWXUH)XQGLQILVFDO\HDUDQGHDFKILVFDO\HDUWKHUHDIWHU
220220 6HF  6HFWLRQ  5HLVVXH 5HYLVHG 6WDWXWHV RI 1HEUDVND LV
221221 DPHQGHGWRUHDG
222222    2Q RU EHIRUH -XQH      DQG RQ RU EHIRUH 0DUFK
223223  RI HDFK \HDU WKHUHDIWHU WKH GHSDUWPHQW VKDOO GHWHUPLQH WKH DPRXQWV WR
224224 EH GLVWULEXWHG WR HDFK ORFDO V\VWHP IRU WKH HQVXLQJ VFKRRO ILVFDO \HDU
225225 SXUVXDQW WR WKH 7D[ (TXLW\ DQG (GXFDWLRQDO 2SSRUWXQLWLHV 6XSSRUW $FW DQG
226226 VKDOOFHUWLI\WKHDPRXQWVWRWKH'LUHFWRURI$GPLQLVWUDWLYH6HUYLFHVWKH
227227 $XGLWRU RI 3XEOLF $FFRXQWV DQG HDFK ORFDO V\VWHP 2Q RU EHIRUH -XQH 
228228     DQG RQ RU EHIRUH 0DUFK  RI HDFK \HDU WKHUHDIWHU WKH
229229 GHSDUWPHQW VKDOO UHSRUW WKH QHFHVVDU\ IXQGLQJ OHYHO IRU WKH HQVXLQJ
230230 VFKRRO ILVFDO \HDU WR WKH *RYHUQRU WKH $SSURSULDWLRQV &RPPLWWHH RI WKH
231231 /HJLVODWXUH DQG WKH (GXFDWLRQ &RPPLWWHH RI WKH /HJLVODWXUH 7KH UHSRUW
232232 VXEPLWWHG WR WKH FRPPLWWHHV RI WKH /HJLVODWXUH VKDOO EH VXEPLWWHG
233233 /%
234234 
235235 /%
236236 
237237  HOHFWURQLFDOO\ ([FHSW DV RWKHUZLVH SURYLGHG LQ WKLV VXEVHFWLRQ
238238 FHUWLILHG VWDWH DLG DPRXQWV LQFOXGLQJ DGMXVWPHQWV SXUVXDQW WR VHFWLRQ
239239  VKDOO EH VKRZQ DV EXGJHWHG QRQSURSHUW\WD[ UHFHLSWV DQG
240240 GHGXFWHG SULRU WR FDOFXODWLQJ WKH SURSHUW\ WD[ UHTXHVW LQ WKH ORFDO
241241 V\VWHPV JHQHUDO IXQG EXGJHW VWDWHPHQW DV SURYLGHG WR WKH $XGLWRU RI
242242 3XEOLF$FFRXQWVSXUVXDQWWRVHFWLRQ
243243   ([FHSW DV SURYLGHG LQ WKLV VXEVHFWLRQ VXEVHFWLRQ   RI VHFWLRQ
244244  DQG VHFWLRQV   DQG  WKH DPRXQWV
245245 FHUWLILHGSXUVXDQWWRVXEVHFWLRQ  RIWKLVVHFWLRQVKDOOEHGLVWULEXWHG
246246 LQ WHQ DV QHDUO\ DV SRVVLEOH HTXDO SD\PHQWV RQ WKH ODVW EXVLQHVV GD\ RI
247247 HDFK PRQWK EHJLQQLQJ LQ 6HSWHPEHU RI HDFK HQVXLQJ VFKRRO ILVFDO \HDU DQG
248248 HQGLQJ LQ -XQH RI WKH IROORZLQJ \HDU H[FHSW WKDW ZKHQ D ORFDO V\VWHP LV
249249 WR UHFHLYH D PRQWKO\ SD\PHQW RI OHVV WKDQ RQH WKRXVDQG GROODUV VXFK
250250 SD\PHQW VKDOO EH RQH OXPSVXP SD\PHQW RQ WKH ODVW EXVLQHVV GD\ RI
251251 'HFHPEHUGXULQJWKHHQVXLQJVFKRROILVFDO\HDU
252252 6HF  6HFWLRQ  5HLVVXH 5HYLVHG 6WDWXWHV RI 1HEUDVND LV
253253 DPHQGHGWRUHDG
254254  1RWZLWKVWDQGLQJ DQ\ RWKHU SURYLVLRQ RI ODZ DQ\
255255 FHUWLILFDWLRQ RI VWDWH DLG SXUVXDQW WR VHFWLRQ  FHUWLILFDWLRQ RI
256256 EXGJHW DXWKRULW\ SXUVXDQW WR VHFWLRQ  DQG FHUWLILFDWLRQ RI
257257 DSSOLFDEOH DOORZDEOH UHVHUYH SHUFHQWDJHV SXUVXDQW WR VHFWLRQ 
258258 FRPSOHWHG SULRU WR WKH HIIHFWLYH GDWH RI WKLV DFW -XQH   IRU
259259 VFKRROILVFDO\HDU  DUHQXOODQGYRLG
260260 6HF  6HFWLRQ  5HLVVXH 5HYLVHG 6WDWXWHV RI 1HEUDVND LV
261261 DPHQGHGWRUHDG
262262    2Q RU EHIRUH -XQH      DQG RQ RU EHIRUH 0DUFK
263263  RI HDFK \HDU WKHUHDIWHU WKH GHSDUWPHQW VKDOO GHWHUPLQH DQG FHUWLI\ WR
264264 HDFK VFKRRO GLVWULFW EXGJHW DXWKRULW\ IRU WKH JHQHUDO IXQG EXGJHW RI
265265 H[SHQGLWXUHVIRUWKHHQVXLQJVFKRROILVFDO\HDU
266266   ([FHSW DV SURYLGHG LQ VHFWLRQV    DQG
267267  HDFK VFKRRO GLVWULFW VKDOO KDYH EXGJHW DXWKRULW\ IRU WKH
268268 /%
269269 
270270 /%
271271 
272272  JHQHUDO IXQG EXGJHW RI H[SHQGLWXUHV HTXDO WR WKH JUHDWHU RI D  WKH
273273 JHQHUDO IXQG EXGJHW RI H[SHQGLWXUHV IRU WKH LPPHGLDWHO\ SUHFHGLQJ VFKRRO
274274 ILVFDO \HDU PLQXV H[FOXVLRQV SXUVXDQW WR VXEVHFWLRQ   RI VHFWLRQ
275275  IRU VXFK VFKRRO ILVFDO \HDU ZLWK WKH GLIIHUHQFH LQFUHDVHG E\
276276 WKH EDVLF DOORZDEOH JURZWK UDWH IRU WKH VFKRRO ILVFDO \HDU IRU ZKLFK
277277 EXGJHW DXWKRULW\ LV EHLQJ FDOFXODWHG E  WKH JHQHUDO IXQG EXGJHW RI
278278 H[SHQGLWXUHV IRU WKH LPPHGLDWHO\ SUHFHGLQJ VFKRRO ILVFDO \HDU PLQXV
279279 H[FOXVLRQV SXUVXDQW WR VXEVHFWLRQ   RI VHFWLRQ  IRU VXFK
280280 VFKRRO ILVFDO \HDU ZLWK WKH GLIIHUHQFH LQFUHDVHG E\ DQ DPRXQW HTXDO WR
281281 DQ\ VWXGHQW JURZWK DGMXVWPHQW FDOFXODWHG IRU WKH VFKRRO ILVFDO \HDU IRU
282282 ZKLFK EXGJHW DXWKRULW\ LV EHLQJ FDOFXODWHG RU F  RQH KXQGUHG WHQ
283283 SHUFHQW RI IRUPXOD QHHG IRU WKH VFKRRO ILVFDO \HDU IRU ZKLFK EXGJHW
284284 DXWKRULW\ LV EHLQJ FDOFXODWHG PLQXV WKH VSHFLDO HGXFDWLRQ EXGJHW RI
285285 H[SHQGLWXUHV DV ILOHG RQ WKH VFKRRO GLVWULFW EXGJHW VWDWHPHQW RQ RU
286286 EHIRUH 6HSWHPEHU  IRU WKH LPPHGLDWHO\ SUHFHGLQJ VFKRRO ILVFDO \HDU
287287 ZKLFK VSHFLDO HGXFDWLRQ EXGJHW RI H[SHQGLWXUHV LV LQFUHDVHG E\ WKH EDVLF
288288 DOORZDEOH JURZWK UDWH IRU WKH VFKRRO ILVFDO \HDU IRU ZKLFK EXGJHW
289289 DXWKRULW\LVEHLQJFDOFXODWHG
290290   )RU DQ\ VFKRRO ILVFDO \HDU IRU ZKLFK WKH EXGJHW DXWKRULW\ IRU
291291 WKHJHQHUDOIXQGEXGJHWRIH[SHQGLWXUHVIRUDVFKRROGLVWULFWLVEDVHGRQ
292292 D VWXGHQW JURZWK DGMXVWPHQW WKH EXGJHW DXWKRULW\ IRU WKH JHQHUDO IXQG
293293 EXGJHW RI H[SHQGLWXUHV IRU VXFK VFKRRO GLVWULFW VKDOO EH DGMXVWHG LQ
294294 IXWXUH \HDUV WR UHIOHFW DQ\ VWXGHQW JURZWK DGMXVWPHQW FRUUHFWLRQV UHODWHG
295295 WRVXFKVWXGHQWJURZWKDGMXVWPHQW
296296 6HF  6HFWLRQ  5HLVVXH 5HYLVHG 6WDWXWHV RI 1HEUDVND LV
297297 DPHQGHGWRUHDG
298298  1R GLVWULFW VKDOO DGRSW D EXGJHW ZKLFK LQFOXGHV WRWDO
299299 UHTXLUHPHQWV RI GHSUHFLDWLRQ IXQGV QHFHVVDU\ HPSOR\HH EHQHILW IXQG FDVK
300300 UHVHUYHV DQG QHFHVVDU\ JHQHUDO IXQG FDVK UHVHUYHV H[FHHGLQJ WKH
301301 DSSOLFDEOH DOORZDEOH UHVHUYH SHUFHQWDJHV RI WRWDO JHQHUDO IXQG EXGJHW RI
302302 H[SHQGLWXUHVDVVSHFLILHGLQWKHVFKHGXOHVHWIRUWKLQWKLVVHFWLRQ
303303 /%
304304 
305305 /%
306306 
307307  $YHUDJHGDLO\
308308 $OORZDEOH
309309 PHPEHUVKLSRI
310310 UHVHUYH
311311 GLVWULFW
312312 SHUFHQWDJH
313313 
314314 
315315 
316316 
317317 
318318 
319319 DQGRYHU
320320 
321321 2Q RU EHIRUH -XQH      DQG RQ RU EHIRUH 0DUFK  HDFK \HDU
322322 WKHUHDIWHU WKH GHSDUWPHQW VKDOO GHWHUPLQH DQG FHUWLI\ HDFK GLVWULFWV
323323 DSSOLFDEOH DOORZDEOH UHVHUYH SHUFHQWDJH IRU WKH HQVXLQJ VFKRRO ILVFDO
324324 \HDU
325325 (DFK GLVWULFW ZLWK FRPELQHG QHFHVVDU\ JHQHUDO IXQG FDVK UHVHUYHV
326326 WRWDO UHTXLUHPHQWV RI GHSUHFLDWLRQ IXQGV DQG QHFHVVDU\ HPSOR\HH EHQHILW
327327 IXQG FDVK UHVHUYHV OHVV WKDQ WKH DSSOLFDEOH DOORZDEOH UHVHUYH SHUFHQWDJH
328328 VSHFLILHG LQ WKLV VHFWLRQ PD\ QRWZLWKVWDQGLQJ WKH GLVWULFWV DSSOLFDEOH
329329 DOORZDEOH JURZWK UDWH LQFUHDVH LWV QHFHVVDU\ JHQHUDO IXQG FDVK UHVHUYHV
330330 VXFK WKDW WKH WRWDO QHFHVVDU\ JHQHUDO IXQG FDVK UHVHUYHV WRWDO
331331 UHTXLUHPHQWV RI GHSUHFLDWLRQ IXQGV DQG QHFHVVDU\ HPSOR\HH EHQHILW IXQG
332332 FDVKUHVHUYHVGRQRWH[FHHGVXFKDSSOLFDEOHDOORZDEOHUHVHUYHSHUFHQWDJH
333333 6HF  6HFWLRQ  5HLVVXH 5HYLVHG 6WDWXWHV RI 1HEUDVND LV
334334 DPHQGHGWRUHDG
335335  7KH $SSURSULDWLRQV &RPPLWWHH RI WKH /HJLVODWXUH VKDOO
336336 DQQXDOO\ LQFOXGH WKH DPRXQW QHFHVVDU\ WR IXQG WKH VWDWH DLG WKDW ZLOO EH
337337 FHUWLILHG WR VFKRRO GLVWULFWV RQ RU EHIRUH -XQH      DQG RQ RU
338338 EHIRUH 0DUFK  RI HDFK \HDU WKHUHDIWHU IRU HDFK HQVXLQJ VFKRRO ILVFDO
339339 \HDU LQ LWV UHFRPPHQGDWLRQV WR WKH /HJLVODWXUH WR FDUU\ RXW WKH
340340 UHTXLUHPHQWVRIWKH7D[(TXLW\DQG(GXFDWLRQDO2SSRUWXQLWLHV6XSSRUW$FW
341341 6HF  6HFWLRQ  5HLVVXH 5HYLVHG 6WDWXWHV RI 1HEUDVND LV
342342 DPHQGHGWRUHDG
343343 b   /HYHO , VHUYLFHV UHIHUV WR VHUYLFHV SURYLGHG WR FKLOGUHQ
344344 ZLWK GLVDELOLWLHV ZKR UHTXLUH DQ DJJUHJDWH RI QRW PRUH WKDQ WKUHH KRXUV
345345 /%
346346 
347347 /%
348348 
349349  SHU ZHHN RI VSHFLDO HGXFDWLRQ VHUYLFHV DQG VXSSRUW VHUYLFHV DQG LQFOXGHV
350350 DOO DGPLQLVWUDWLYH GLDJQRVWLF FRQVXOWDWLYH DQG YRFDWLRQDODGMXVWPHQW
351351 FRXQVHORUVHUYLFHV
352352   7KH WRWDO DOORZDEOH UHLPEXUVDEOH FRVW IRU VXSSRUW VHUYLFHV VKDOO
353353 QRW H[FHHG D SHUFHQWDJH HVWDEOLVKHG E\ WKH 6WDWH %RDUG RI (GXFDWLRQ RI
354354 WKH VFKRRO GLVWULFWV RU DSSURYHG FRRSHUDWLYHV WRWDO DOORZDEOH
355355 UHLPEXUVDEOH FRVW IRU DOO VSHFLDO HGXFDWLRQ SURJUDPV DQG VXSSRUW
356356 VHUYLFHV 7KH SHUFHQWDJH HVWDEOLVKHG E\ WKH ERDUG IRU VXSSRUW VHUYLFHV
357357 VKDOO QRW H[FHHG WKH GLIIHUHQFH RI WHQ SHUFHQW PLQXV WKH SHUFHQWDJH RI
358358 WKH DSSURSULDWLRQV IRU VSHFLDO HGXFDWLRQ DSSURYHG E\ WKH /HJLVODWXUH VHW
359359 DVLGH IRU UHLPEXUVHPHQWV IRU VXSSRUW VHUYLFHV SXUVXDQW WR VXEVHFWLRQ  
360360 RIWKLVVHFWLRQ
361361   ([FHSW DV SURYLGHG LQ VXEVHFWLRQ     RI WKLV VHFWLRQ IRU
362362 VSHFLDO HGXFDWLRQ DQG VXSSRUW VHUYLFHV SURYLGHG LQ HDFK VFKRRO ILVFDO
363363 \HDU WKH GHSDUWPHQW VKDOO UHLPEXUVH HDFK VFKRRO GLVWULFW LQ WKH
364364 IROORZLQJVFKRROILVFDO\HDUHLJKW\SHUFHQWRIWKHWRWDODOORZDEOHH[FHVV
365365 FRVWV IRU DOO VSHFLDO HGXFDWLRQ SURJUDPV DQG VXSSRUW VHUYLFHV
366366 &RRSHUDWLYHV RI VFKRRO GLVWULFWV RU HGXFDWLRQDO VHUYLFH XQLWV VKDOO DOVR
367367 EH HOLJLEOH IRU UHLPEXUVHPHQW IRU FRRSHUDWLYH SURJUDPV SXUVXDQW WR WKLV
368368 VHFWLRQ LI VXFK FRRSHUDWLYHV RU HGXFDWLRQDO VHUYLFH XQLWV KDYH FRPSOLHG
369369 ZLWK WKH UHSRUWLQJ DQG DSSURYDO UHTXLUHPHQWV RI VHFWLRQ  IRU
370370 FRRSHUDWLYH SURJUDPV ZKLFK ZHUH RIIHUHG LQ WKH SUHFHGLQJ VFKRRO ILVFDO
371371 \HDU
372372  D  7KH SD\PHQWV VKDOO EH PDGH E\ WKH GHSDUWPHQW WR WKH VFKRRO
373373 GLVWULFW RI UHVLGHQFH FRRSHUDWLYH RI VFKRRO GLVWULFWV RU HGXFDWLRQDO
374374 VHUYLFH XQLW HDFK VFKRRO \HDU LQ D PLQLPXP RI VHYHQ SD\PHQWV EHWZHHQ WKH
375375 ILIWK DQG WZHQWLHWK GD\ RI HDFK PRQWK EHJLQQLQJ LQ 'HFHPEHU $GGLWLRQDO
376376 SD\PHQWV PD\ EH PDGH EDVHG XSRQ DGGLWLRQDO YDOLG FODLPV VXEPLWWHG 7KH
377377 6WDWH7UHDVXUHUVKDOOEHWZHHQWKHILIWKDQGWZHQWLHWKGD\RIHDFKPRQWK
378378 QRWLI\ WKH 'LUHFWRU RI $GPLQLVWUDWLYH 6HUYLFHV RI WKH DPRXQW RI IXQGV
379379 DYDLODEOH LQ WKH *HQHUDO )XQG DQG WKH (GXFDWLRQ )XWXUH )XQG IRU SD\PHQW
380380 /%
381381 
382382 /%
383383 
384384  SXUSRVHV 7KH GLUHFWRU VKDOO XSRQ UHFHLYLQJ VXFK FHUWLILFDWLRQ GUDZ
385385 ZDUUDQWVDJDLQVWVXFKIXQGVDVDSSURSULDWHG
386386 E  ,I WKH *HQHUDO )XQG DSSURSULDWLRQV IRU VSHFLDO HGXFDWLRQ
387387 DSSURYHG E\ WKH /HJLVODWXUH PLQXV WKH DPRXQWV VHW DVLGH SXUVXDQW WR
388388 VXEVHFWLRQ   RI WKLV VHFWLRQ DUH LQVXIILFLHQW WR UHLPEXUVH HLJKW\
389389 SHUFHQW RI WKH WRWDO DOORZDEOH H[FHVV FRVWV IRU DOO VSHFLDO HGXFDWLRQ
390390 SURJUDPVDQGVXSSRUWVHUYLFHVIRUDQ\VFKRROILVFDO\HDU
391391 L  6XFK DOORZDEOH H[FHVV FRVWV VKDOO EH UHLPEXUVHG IURP WKH *HQHUDO
392392 )XQG DSSURSULDWLRQV IRU VSHFLDO HGXFDWLRQ DSSURYHG E\ WKH /HJLVODWXUH
393393 PLQXV WKH DPRXQWV VHW DVLGH SXUVXDQW WR VXEVHFWLRQ   RI WKLV VHFWLRQ
394394 RQ D SUR UDWD EDVLV DW WKH PD[LPXP UDWH RI UHLPEXUVHPHQW VXFK
395395 DSSURSULDWLRQVZLOODOORZDVGHWHUPLQHGE\WKHGHSDUWPHQWDQG
396396 LL  7KH UHPDLQGHU RI WKH HLJKW\ SHUFHQW UHLPEXUVHPHQW RI VXFK
397397 DOORZDEOHH[FHVVFRVWVVKDOOEHSDLGIURPWKH(GXFDWLRQ)XWXUH)XQG
398398   5HVLGHQWLDO VHWWLQJV GHVFULEHG LQ VXEGLYLVLRQ  F  RI VHFWLRQ
399399  VKDOO EH UHLPEXUVHG IRU WKH HGXFDWLRQDO VHUYLFHV LQFOXGLQJ
400400 VSHFLDO HGXFDWLRQ VHUYLFHV DQG VXSSRUW VHUYLFHV LQ DQ DPRXQW GHWHUPLQHG
401401 SXUVXDQW WR WKH DYHUDJH SHU SXSLO FRVW RI WKH VHUYLFH DJHQF\
402402 5HLPEXUVHPHQWV SXUVXDQW WR WKLV VHFWLRQ VKDOO EH PDGH IURP IXQGV VHW
403403 DVLGHIRUVXFKSXUSRVHZLWKLQVL[W\GD\VDIWHUUHFHLSWRIDUHLPEXUVHPHQW
404404 UHTXHVW VXEPLWWHG LQ WKH PDQQHU UHTXLUHG E\ WKH GHSDUWPHQW DQG LQFOXGLQJ
405405 DQ\ GRFXPHQWDWLRQ UHTXLUHG E\ WKH GHSDUWPHQW IRU HGXFDWLRQDO VHUYLFHV
406406 WKDWKDYHEHHQSURYLGHGH[FHSWWKDWLIWKHUHDUHQRWDQ\IXQGVDYDLODEOH
407407 IRU WKH UHPDLQGHU RI WKH VWDWH ILVFDO \HDU IRU VXFK UHLPEXUVHPHQWV WKH
408408 UHLPEXUVHPHQW VKDOO RFFXU ZLWKLQ WKLUW\ GD\V DIWHU WKH EHJLQQLQJ RI WKH
409409 LPPHGLDWHO\ IROORZLQJ VWDWH ILVFDO \HDU 7KH GHSDUWPHQW PD\ DXGLW DQ\
410410 UHTXLUHG GRFXPHQWDWLRQ DQG VXEWUDFW DQ\ SD\PHQWV PDGH LQ HUURU IURP
411411 IXWXUH UHLPEXUVHPHQWV 7KH GHSDUWPHQW VKDOO VHW DVLGH VHSDUDWH DPRXQWV
412412 IURP WKH DSSURSULDWLRQV IRU VSHFLDO HGXFDWLRQ DSSURYHG E\ WKH /HJLVODWXUH
413413 IRU UHLPEXUVHPHQWV SXUVXDQW WR WKLV VXEVHFWLRQ IRU VWXGHQWV UHFHLYLQJ
414414 VSHFLDO HGXFDWLRQ VHUYLFHV DQG IRU VWXGHQWV UHFHLYLQJ VXSSRUW VHUYLFHV
415415 /%
416416 
417417 /%
418418 
419419  IRU HDFK VWDWH ILVFDO \HDU 7KH DPRXQWV VHW DVLGH IRU HDFK SXUSRVH VKDOO
420420 EH EDVHG RQ HVWLPDWHV RI WKH UHLPEXUVHPHQWV WR EH UHTXHVWHG GXULQJ WKH
421421 VWDWH ILVFDO \HDU DQG VKDOO QRW EH OHVV WKDQ WKH WRWDO DPRXQW RI
422422 UHLPEXUVHPHQWV UHTXHVWHG LQ WKH SULRU VWDWH ILVFDO \HDU SOXV DQ\ XQSDLG
423423 UHTXHVWVIURPWKHSULRUVWDWHILVFDO\HDU
424424   )RU VFKRRO ILVFDO \HDU  DQG HDFK VFKRRO ILVFDO \HDU
425425 WKHUHDIWHU WKH GHSDUWPHQW VKDOO DOVR UHLPEXUVH HDFK VFKRRO GLVWULFW RU
426426 DSSURYHG FRRSHUDWLYH IRU DGGLWLRQDO FRVWV DWWULEXWDEOH WR VWXGHQWV
427427 UHFHLYLQJ VHUYLFHV XQGHU D SODQ SXUVXDQW WR WKH UHTXLUHPHQWV RI VHFWLRQ
428428  RI WKH IHGHUDO 5HKDELOLWDWLRQ $FW RI   86&  DV VXFK
429429 VHFWLRQ H[LVWHG RQ -DQXDU\   5HLPEXUVHPHQW XQGHU WKLV VXEVHFWLRQ
430430 VKDOOEHSURYLGHGDWWKHVDPHSHUFHQWDJHDVWKHUHLPEXUVHPHQWIRUVSHFLDO
431431 HGXFDWLRQ SURJUDPV DQG VXSSRUW VHUYLFHV GHVFULEHG LQ VXEVHFWLRQ   RI
432432 WKLV VHFWLRQ DQG WKH GHSDUWPHQW VKDOO HVWDEOLVK SURFHGXUHV IRU VFKRRO
433433 GLVWULFWV DQG FRRSHUDWLYHV WR UHSRUW DQG GRFXPHQW VXFK DGGLWLRQDO FRVWV
434434 6XFK UHLPEXUVHPHQW VKDOO EH LQ DGGLWLRQ WR DQG QRW D UHSODFHPHQW IRU
435435 VSHFLDOHGXFDWLRQUHLPEXUVHPHQWIXQGLQJSURYLGHGXQGHUWKLVVHFWLRQ
436436     )RU HDFK VFKRRO GLVWULFW WKDW UHFHLYHG D SD\PHQW SXUVXDQW WR
437437 WKH ([WUDRUGLQDU\ ,QFUHDVH LQ 6SHFLDO (GXFDWLRQ ([SHQGLWXUHV $FW LQ WKH
438438 VFKRRO ILVFDO \HDU IRU ZKLFK VSHFLDO HGXFDWLRQ H[SHQGLWXUHV ZHUH
439439 UHLPEXUVHGSXUVXDQWWRVXEVHFWLRQ  RIWKLVVHFWLRQDQDPRXQWHTXDOWR
440440 VXFK SD\PHQW VKDOO EH VXEWUDFWHG IURP WKH UHLPEXUVHPHQW FDOFXODWHG
441441 SXUVXDQW WR VXEVHFWLRQ   RI WKLV VHFWLRQ DQG VXFK DPRXQW VKDOO EH
442442 WUDQVIHUUHGWRWKH(GXFDWLRQ)XWXUH)XQG
443443     2Q RU EHIRUH 1RYHPEHU  RI HDFK \HDU WKH GHSDUWPHQW VKDOO
444444 VXEPLW WR WKH *RYHUQRU WKH $SSURSULDWLRQV &RPPLWWHH RI WKH /HJLVODWXUH
445445 DQGWKH(GXFDWLRQ&RPPLWWHHRIWKH/HJLVODWXUH
446446 D  7KH WRWDO DOORZDEOH H[FHVV FRVWV IRU DOO VSHFLDO HGXFDWLRQ
447447 SURJUDPV DQG VXSSRUW VHUYLFHV IRU DOO VFKRRO GLVWULFWV FRRSHUDWLYHV RI
448448 VFKRROGLVWULFWVDQGHGXFDWLRQDOVHUYLFHXQLWV DQG
449449 E  7KH WRWDO UHLPEXUVHPHQWV UHTXHVWHG SXUVXDQW WR VXEVHFWLRQ   RI
450450 /%
451451 
452452 /%
453453 
454454  WKLVVHFWLRQIRUWKHPRVWUHFHQWO\FRPSOHWHGVFKRROILVFDO\HDU DQG 
455455 F  7KH WRWDO UHLPEXUVHPHQWV SURYLGHG SXUVXDQW WR VXEVHFWLRQ   RI
456456 WKLVVHFWLRQIRUWKHPRVWUHFHQWO\FRPSOHWHGVFKRROILVFDO\HDU
457457 6HF   6HFWLRQ  RI WKLV DFW EHFRPHV RSHUDWLYH RQ -DQXDU\ 
458458  7KH RWKHU VHFWLRQV RI WKLV DFW EHFRPH RSHUDWLYH RQ WKHLU HIIHFWLYH
459459 GDWH
460460 6HF   2ULJLQDO VHFWLRQV   
461461     DQG  5HLVVXH 5HYLVHG
462462 6WDWXWHVRI1HEUDVNDDUHUHSHDOHG
463463 6HF   6LQFH DQ HPHUJHQF\ H[LVWV WKLV DFW WDNHV HIIHFW ZKHQ
464464 SDVVHGDQGDSSURYHGDFFRUGLQJWRODZ
465465 /%
466466 
467467 /%
468468 
469469