The proposed rules provide for the incorporation of a new Application for Participation, Participation Agreement and Terms and Conditions. The primary purposes of updating the rules and incorporated documents is to reflect new Investment Options under the Florida College Savings Program; to recognize a minimum threshold for refunds of fifty dollars ($50.00) before sending notices one year prior to escheatment; to set forth a right of survivorship for beneficiaries; to set forth factors the Florida Prepaid Board may consider in setting the Administration Fee for the 529 Savings Plan; and to reduce redundancy.