For Rule 61H1-38.004, the Board proposes the rule amendment to provide clarification regarding the Clay Ford Scholarship. For Rule 61H1-38.005, the Board proposes the rule amendment to provide clarification regarding payment of a scholarship award, ...

 

DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION

Board of Accountancy

RULE NOS.:RULE TITLES:

61H1-38.004Eligibility Criteria

61H1-38.005Scholarships

61H1-38.007Fees

PURPOSE AND EFFECT: For Rule 61H1-38.004, the Board proposes the rule amendment to provide clarification regarding the Clay Ford Scholarship. For Rule 61H1-38.005, the Board proposes the rule amendment to provide clarification regarding payment of a scholarship award, in what months the awards will be transmitted, and the maximum amount that may be expended for all scholarships each year. For Rule 61H1-38.007, F.A.C., the Board proposes the rule amendment to update total dollar amount of the fund to $200,000 and to remove outdated language.

SUMMARY: For Rule 61H1-38.004, the Clay Ford Scholarship will be clarified; for Rule 61H1-38.005, payment of a scholarship award, what months the awards will be transmitted, and the maximum amount that may be expended for all scholarships each year will be clarified; for Rule 61H1-38.007, F.A.C., the total amount of the fund will be increased to $200,000.

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: During discussion of the economic impact of this rule at its Board meeting, the Board, based upon the expertise and experience of its members, determined that a Statement of Estimated Regulatory Costs (SERC) was not necessary and that the rule will not require ratification by the Legislature. No person or interested party submitted additional information regarding the economic impact at that time.

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: 473.304(1), 473.3065(3) FS.

LAW IMPLEMENTED: 473.3065 FS.

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

THE PERSON TO BE CONTACTED REGARDING THE PROPOSED RULE IS: Veloria A. Kelly, Division Director, Board of Accountancy, 240 N.W. 76th Drive, Suite A, Gainesville, Florida 32607

 

THE FULL TEXT OF THE PROPOSED RULE IS:

 

61H1-38.004 Eligibility Criteria.

A student who meets the foregoing general criteria shall be eligible to be chosen to receive a scholarship so long as the following criteria are met:

(1) Applicants must demonstrate a financial need which is defined as the cost of attendance at an institution of higher education less the expected family contribution and any gift aid for which the student is entitled. “Cost of attendance” is defined as a Board approved estimate of the expenses incurred by a typical financial aid student attending college. It includes direct educational costs (tuition, books, supplies, computers) as well as indirect costs (room and board, transportation, laundry, child care and personal expenses). Applicants will be required to authorize the Clay Ford Scholarship Certified Public Accountant Education Minority Assistance Advisory Council (Council) to verify information submitted including financial assistance and educational costs. It is the intent that scholarship money from this source should not affect a student’s eligibility for other scholarships, but should reduce their self-help aid. However, the Council shall take other assistance into consideration when determining a student’s eligibility for a scholarship under this section.

(2) through (6) No change.

Rulemaking Specific Authority 473.304(1), 473.3065(3) FS. Law Implemented 473.3065 FS. History–New 9-22-99, Amended 5-28-06,________.

 

61H1-38.005 Scholarships.

(1) No change.

(2) Scholarship awards checks will be made payable jointly to the institution and the student and will be transmitted mailed during September August for those enrolled in the fall term and during January December for those enrolled in the winter term.

(3) A maximum of $200,000.00 $100,000.00 may be expended for all scholarships each year.

(4) A minimum of $1,000.00 must be maintained in the program account.

Rulemaking Authority 473.304(1), 473.3065(3) FS. Law Implemented 473.3065 FS. History–New 9-22-99, Amended 10-5-09,________.

 

61H1-38.007 Fees.

An equal assessment per license out of existing licensing fees, as set forth in Section 473.3065, Florida Statutes, and not to exceed $10 per license shall be made in an amount needed to collect $105,000.00 during the first fiscal year of the fund and to collect $200,00.00 $100,000.00 per fiscal year thereafter in order to fund the authorized scholarships.

Rulemaking Specific Authority 473.304(1), 473.3065(3) FS. Law Implemented 473.3065 FS. History–New 9-22-99, Amended________.

 

NAME OF PERSON ORIGINATING PROPOSED RULE: Board of Accountancy

NAME OF AGENCY HEAD WHO APPROVED THE PROPOSED RULE: Board of Accountancy

DATE PROPOSED RULE APPROVED BY AGENCY HEAD: June 13, 2013

DATE NOTICE OF PROPOSED RULE DEVELOPMENT PUBLISHED IN FAR: August 5, 2013