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FL S1868
Bill
AI Summary
- 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 in the state
- Participating HBCUs must provide matching funds equal to one-fourth of the legislative appropriation to the program's trust fund
- All appropriated and matching funds must remain in the trust fund and be invested per chapter 215, with only the earned interest used to fund student scholarships
- Interest accumulated in the trust fund must be allocated equally to each participating institution annually by July 1, for scholarships to full-time undergraduate students who are Florida residents and demonstrate unmet financial need
- Directs the State Board of Education and the Board of Governors of the State University System to adopt rules and regulations to administer the program, with an effective date of July 1, 2022
Legislative Description
Historically Black Colleges and Universities Matching Endowment Scholarship Program
Last Action
Died in Education
3/14/2022
Full Bill Text
No bill text available