FL S0464

Allows Florida Prepaid College dormitory residence plan fees to be transferred to qualified nonprofit organizations approved by state universities or Florida College System institutions for student housing

Defines "qualified nonprofit organization" as a 501(c)(3) nonprofit that provides dormitories to full-time students, primarily serves students lacking financial resources, and is board-approved

Changes the cap on transferred dormitory fees from the "maximum" to the "average" fees charged for state university dormitory residence

Modifies governance of the Florida Prepaid College Board's direct-support organization by removing the executive director as a director, while keeping the board chair as a director

Requires the chair and executive director to jointly name at least four (increased from three) other individuals to serve as directors of the direct-support organization