The purpose and effect of this rule development is to centralize participant terms and conditions within a single contract document to support clarity, consistency, and improved customer experience. In addition, the proposed ....

 

STATE BOARD OF ADMINISTRATION

Florida Prepaid College Board

RULE NO.:RULE TITLE:

19B-4.001Application

PURPOSE AND EFFECT: The purpose and effect of this rule development is to centralize participant terms and conditions within a single contract document to support clarity, consistency, and improved customer experience. In addition, the proposed rule development will implement minor technical revisions throughout.

SUMMARY: The amendments to the rule centralizes participant terms and conditions within a single contract document to support clarity, consistency, and improved customer experience. In addition, the amendments to the rule will implement minor technical revisions throughout.

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: These amendments do not change the operations of or the costs incurred by the Board in administering its programs, as the revisions to the rule do not change any of the operations or costs of the program. The Board, based upon the procedural revisions and no operational or substantive changes, determined that there was no SERC required.

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: 1009.971(1), (4), (6), FS.

LAW IMPLEMENTED: 1009.971, 1009.98, 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: Brandon Goeke, 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: Brandon Goeke, 1801 Hermitage Blvd., Suite 210, Tallahassee, FL 32308. [phone]; [e-mail].

 

THE FULL TEXT OF THE PROPOSED RULE IS:

 

19B-4.001 Application.

(1) Rule Chapters 19B-4 through 19B-11, F.A.C., apply to advance payment contracts for the prepayment of the Registration Fee, Local Fees, Tuition Differential Fees and/or Dormitory Fees under the Stanley G. Tate Florida Prepaid College Program. See the Master Contract, which is incorporated by reference in subsection (2), for defined terms.

(2) The Florida Prepaid College Plan Master Contract, Form No. FPCB 2021-01, https://www.flrules.org/gateway/reference.asp?No=Ref-13896, [LINK TO BE INSERTED HERE], is hereby incorporated by reference.

(3) The Board may only require that applicants provide the following information to enroll in the Program:

(a) For the Account Owner, Survivor, Parent and Beneficiary:

1.Full legal name and salutation;

2. Social Security Number;

3. Date of birth;

4. Full mailing address;

5. Two telephone numbers;

6. Two email addresses.

(b) Age, grade, and projected enrollment year of the Beneficiary.

(c) The Plan type and payment option of Florida Prepaid College Plan(s) selected for enrollment.

(d) Proof of, or information used to verify proof of the Parent’s or Beneficiary’s Florida residency as defined in the Master Contract, which is incorporated by reference in subsection (2).

(e) Marketing information:

1. How did you hear about the Program?

2. Annual Family Income;

3. Purchaser’s relationship to the Beneficiary;

4. Beneficiary gender;

5. Beneficiary race.

(f) A Florida 529 Savings Plan Account Number for the same Beneficiary to apply a discount on the Application Fee, if offered and applicable.

(g) Information required for the processing of a one-time and recurring automatic withdrawal authorization.

(4) A copy of the Master Contract and Application may be obtained from the Board by submitting a request to: P.O. Box 6448, Tallahassee, Florida 32314-6448.

Rulemaking Authority 1009.971(1), (4), (6) FS. Law Implemented 1009.98 FS. History–New 3-29-89, Amended 2-6-90, 3-19-92, Formerly 4G-4.001, Amended 12-5-93, 5-31-95, 6-20-96, 10-20-96, 12-16-97, 2-18-99, 6-6-99, 2-8-00, 5-21-00, 1-3-01, 10-9-01, 11-27-02, 10-1-03, 1-29-04, 12-28-04, 6-2-05, 12-20-05, 1-1-07, 11-27-07, 12-17-07, 11-18-08, 1-28-09, 4-5-09, 10-26-09, 10-18-10, 12-5-11, 11-5-12, 10-7-13, 8-24-14, 6-23-16, 2-14-17, 8-29-19, 1-11-21, 12-14-21, ______.

 

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: March 19, 2024

DATE NOTICE OF PROPOSED RULE DEVELOPMENT PUBLISHED IN FAR: 4/22/2024