Bill > S0732

This bill, concerning the Stanley G. Tate Florida Prepaid College Program, aims to redefine how payments are made for certain college expenses for beneficiaries whose contracts were purchased before July 1, 2024. Specifically, it clarifies that the "tuition differential" is a fee covered by advance payment contracts and sets a new base rate for it. The bill also introduces new provisions that limit the total amount the program, referred to as "the board," can pay to state universities for a combination of registration fees, the tuition differential, and local fees to 100% of what the university charges for these fees. Similarly, it caps the program's payment for dormitory fees at 100% of the university's charged amount. These changes apply to contracts purchased before July 1, 2024, and the bill also updates the date for when contracts purchased on or after a certain date will be paid at the actual assessed amount.