FL S1406

Establishes the Postsecondary Graduation Achievement Housing Scholarship Program, a lottery-funded program administered by the Department of Education and funded annually from the Education Enhancement Trust Fund.

Requires eligible applicants to have been Florida residents for tuition purposes, received a state-funded scholarship or grant for at least 1 year, demonstrated significant financial need, and graduated from an in-state postsecondary institution with a minimum 3.0 GPA in the last 2 years.

Awards scholarships for 2 years: $400 per month in year one and $300 per month in year two, plus a one-time award of up to $1,500 in the first year, subject to available funding.

Limits scholarship use to paying for housing and security deposits for housing in Florida, with awards distributed on a first-come, first-served basis.

Allows the State Board of Education to adopt rules for program administration and permits prorating of funds if appropriations are insufficient.