The purpose and effect of this rule is to update rules to reflect the creation of Florida ABLE, Inc.

 

STATE BOARD OF ADMINISTRATION

Florida Prepaid College Board

RULE NO.:RULE TITLE:

19B-17.001Florida ABLE, INC.; Requirements; Use of Board Property

PURPOSE AND EFFECT: The purpose and effect of this rule is to update rules to reflect the creation of Florida ABLE, Inc.

SUMMARY: The proposed rule provides restrictions on and oversight to the resource sharing between Florida ABLE, Inc. and Florida Prepaid College Board, including requiring a written operating contract between the entities and written requests to the Executive Director of the Florida Prepaid College Board for resource requests.

SUMMARY OF STATEMENT OF ESTIMATED REGULATORY COSTS AND LEGISLATIVE RATIFICATION: The Agency has determined that this will not have an adverse impact on small business or likely increase directly or indirectly regulatory costs in excess of $200,000 in the aggregate within one year after the implementation of the rule. A SERC has not been prepared by the Agency.

The Agency has determined that the proposed rule is not expected to require legislative ratification based on the statement of estimated regulatory costs or if no SERC is required, the information expressly relied upon and described herein: Based on statutory and existing relationship between Florida ABLE, Inc. and the Florida Prepaid College Board, a SERC is not necessary and the rules do not require ratification by the Legislature.

Any person who wishes to provide information regarding a statement of estimated regulatory costs, or provide a proposal for a lower cost regulatory alternative must do so in writing within 21 days of this notice.

RULEMAKING AUTHORITY: 1009.986(10) FS.

LAW IMPLEMENTED: 1009.986 FS.

IF REQUESTED WITHIN 21 DAYS OF THE DATE OF THIS NOTICE, A HEARING WILL BE SCHEDULED AND ANNOUNCED IN THE FAR.

Pursuant to the provisions of the Americans with Disabilities Act, any person requiring special accommodations to participate in this workshop/meeting is asked to advise the agency at least 5 days before the workshop/meeting by contacting: Michael Frick, Director of Operations, 1801 Hermitage Blvd., Suite 210, Tallahassee, FL 32308, [phone], [e-mail]. If you are hearing or speech impaired, please contact the agency using the Florida Relay Service, 1(800)955-8771 (TDD) or 1(800)955-8770 (Voice).

THE PERSON TO BE CONTACTED REGARDING THE PROPOSED RULE IS: Michael Frick, Director of Operations, 1801 Hermitage Blvd., Suite 210, Tallahassee, FL 32308, [phone], [e-mail].

 

THE FULL TEXT OF THE PROPOSED RULE IS:

 

19B-17.001 Florida ABLE, Inc.; Requirements; Use of Board Property.

(1) Florida ABLE, Inc., a not-for-profit corporation established pursuant to Section 1009.986, F.S., shall:

(a) Submit its articles of incorporation and by-laws, and any amendments thereto, after approval by the Florida ABLE, Inc., Board, to the Florida Prepaid College Board for approval.

(b) Submit its annual budget to the Florida Prepaid College Board not later than June 30 of each year.

(c) With the exception of those public records described in Sections 1009.987, F.S., allow inspection and copying of all other documents, papers, letters or other records of Florida ABLE, Inc., that are made or received in conjunction with the business of the corporation in accordance with the requirements of the Florida Public Records Law, Section 119.07, F.S.

(d) Allow the Florida Prepaid College Board, its employees or designees, or other state agencies as provided by law to audit Florida ABLE, Inc., through the use of an independent certified public accountant and shall provide any supplemental data requested upon reasonable notice at the corporation’s offices during normal business hours.

(2) To be eligible to use the Florida Prepaid College Board’s property (except money), facilities and personal services, Florida ABLE, Inc., shall make a written request to the Executive Director of the Florida Prepaid College Board specifying the property, facilities and personal services which Florida ABLE, Inc., requests that it be allowed to use.

Rulemaking Authority 1009.986(10) FS. Law Implemented 1009.986 FS. History–New_______.

 

NAME OF PERSON ORIGINATING PROPOSED RULE: Florida Prepaid College Board

NAME OF AGENCY HEAD WHO APPROVED THE PROPOSED RULE: Florida Prepaid College Board

DATE PROPOSED RULE APPROVED BY AGENCY HEAD:

DATE NOTICE OF PROPOSED RULE DEVELOPMENT PUBLISHED IN FAR: October 2, 2015