Substitute Senate Bill No. 998 Summary

• Private occupational schools must submit applications including school description, ownership information, financial statements prepared by independent accountants, and student enrollment agreements describing employment requirements and barriers by July 1, 2021.

• Applications for initial authorization expire if incomplete after six months; schools must pay a $2,000 nonrefundable application fee plus $200 per branch to the private occupational school student protection account.

• Certificate of authorization may be revoked if schools fail to submit renewal applications by the due date, cease meeting authorization conditions, commit material violations, make false statements, fail to pay required fees, or submit incomplete renewal applications.

• All private occupational schools must contribute to the student protection account at four-tenths of one percent of tuition received per calendar quarter; students at insolvent or closed schools may claim tuition refunds within two years.

• Independent institutions of higher education must submit closure plans by January 1, 2022, addressing responses to disasters or catastrophic events and management of student records and financial aid; institutions planning permanent closure must notify the Office of Higher Education within thirty days of governing board authorization.