To amend the transfer of advance payment contract benefits to out-of-state colleges or universities to include the transfer of the new tuition differential fee and to update terminology.

 

STATE BOARD OF ADMINISTRATION
Florida Prepaid Postsecondary Education Expense Board

RULE NO: RULE TITLE
19B-9.003: Transfer to Out-of-State Schools
PURPOSE AND EFFECT: To amend the transfer of advance payment contract benefits to out-of-state colleges or universities to include the transfer of the new tuition differential fee and to update terminology.
SUBJECT AREA TO BE ADDRESSED: The Florida Prepaid College Plan’s transfer of advance payment contract benefits to out-of-state colleges or universities.
SPECIFIC AUTHORITY: 1009.971(1), (4), (6) FS.
LAW IMPLEMENTED: 1009.98 FS.
IF REQUESTED IN WRITING AND NOT DEEMED UNNECESSARY BY THE AGENCY HEAD, A RULE DEVELOPMENT WORKSHOP WILL BE HELD AT THE DATE, TIME AND PLACE SHOWN BELOW:
TIME AND DATE: October 15, 2007, 2:00 p.m.
PLACE: Suite 210, Hermitage Building, 1801 Hermitage Boulevard, Tallahassee, Florida
THE PERSON TO BE CONTACTED REGARDING THE PROPOSED RULE DEVELOPMENT AND A COPY OF THE PRELIMINARY DRAFT, IF AVAILABLE, IS: Thomas J. Wallace, Executive Director, 1801 Hermitage Boulevard, Suite 210, Tallahassee, Florida 32308, telephone [phone]

THE PRELIMINARY TEXT OF THE PROPOSED RULE DEVELOPMENT IS:

 

19B-9.003 Transfer to Out-of-State Schools.

A qualified beneficiary may transfer the benefits of an advance payment contract to an eligible out-of-state community college, college or university. The amount transferred shall not exceed the redemption value of the advance payment contract. For purposes of such transfers of the tuition, and local and tuition differential fee plans, the redemption value shall be the average amount of tuition, and local and tuition differential fees, respectively, charged by the state universities or community colleges at the time of matriculation. For purposes of such transfers of the dormitory plan, the redemption value shall be the average of the state university dormitory fees charged at the time of matriculation for the number of semesters reflected in each purchaser’s advance payment contract.

Specific Authority 1009.971(1), (4), (6) FS. Law Implemented 1009.98(3) FS. History–New 3-29-89, Formerly 4G-9.003, Amended 12-5-93, 6-20-96, 2-18-99, 1-3-01, 10-9-01,________.