For clarity and consistency, the change would move language from paragraph (1)(c) of Rule 19B-4.001 to Rule 19B-4.002 as new paragraph 2 of that rule.

 

STATE BOARD OF ADMINISTRATION

Florida Prepaid College Board

RULE NO.:RULE TITLE:

19B-4.002Contract Prices

PURPOSE AND EFFECT: For clarity and consistency, the change would move language from paragraph (1)(c) of Rule 19B-4.001, F.A.C., to Rule 19B-4.002, F.A.C., as new paragraph 2 of that rule.

SUMMARY: The amendment moves language from paragraph (1)(c) of Rule 19B-4.001, F.A.C., to Rule 19B-4.002, F.A.C., as new paragraph 2 of that rule.

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:

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: 1009.975, 1009.98(4) 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-4.002 Contract Prices.

(1) The Board will approve Plan prices for each Open Enrollment Period. The value of the projected fees for the Florida College System or the State University System will be based primarily on Florida law and empirical data for national and Florida postsecondary tuition, required fees, and housing costs. Plan prices and the interest rate for installment payment plans for the current Open Enrollment Period will be published on the Board’s website (www.MyFloridaPrepaid.com).

(2) The Plan prices associated with Applications submitted to the Board during the Open Enrollment Period shall be the Plan prices applicable to advance payment contracts for the Open Enrollment Period. The Plan prices associated with Applications received by the Board outside the Open Enrollment Period, except for those purchased through the Board’s direct support organization, The Florida Prepaid College Foundation, Inc., for Purchasers participating in employer participation programs or by Purchasers pursuant to a court order, shall be the Plan prices applicable to advance payment contracts for the next succeeding Open Enrollment Period.

Rulemaking Authority 1009.971(1), (4), (6) FS. Law Implemented 1009.98(2) FS. History–New 3-29-89, Amended 2-6-90, 3-19-92, Formerly 4G-4.002, Amended 5-31-95, 2-18-99, 2-8-00, 12-28-03, 12-28-04, 12-20-05, 12-17-07, 11-30-09, 10-18-10, 10-7-13, 8-24-14,______.

 

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: May 01, 2020

DATE NOTICE OF PROPOSED RULE DEVELOPMENT PUBLISHED IN FAR: April 9, 2020