FL H0117

Establishes the Historically Black Colleges and Universities Matching Endowment Scholarship Program within the Florida Department of Education to provide scholarships to students enrolled at participating HBCUs

Appropriates $2 million to be transferred to a dedicated trust fund for the program

Requires each participating HBCU to provide $500,000 in matching funds by June 30, 2020

All appropriated and matching funds remain in the trust fund permanently, with only the accumulated interest used to fund scholarships for students with unmet financial need

Interest earnings are distributed equally among participating institutions annually by the Department of Education; effective date July 1, 2019