FL S0732

Redefines "tuition differential" to mean the fee assessed (rather than paid by the board) for tuition differential coverage under advance payment contracts.

Changes the purchase date threshold for advance payment contracts from July 1, 2009 to July 1, 2024, affecting which payment formulas apply to qualified beneficiaries.

Caps payments by the Florida Prepaid College Board to state universities at 100 percent of actual charges for registration fees, tuition differential, and local fees combined for contracts purchased before July 1, 2024.

Caps payments by the board for dormitory fees at 100 percent of actual dormitory charges assessed by state universities for contracts purchased before July 1, 2024.

Contracts purchased on or after July 1, 2024 require the board to pay the actual amount assessed for all fees without percentage adjustments.