Loading chat...
FL S0644
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
- Each participating HBCU must contribute $500,000 to the Department of Education no later than June 30, 2024, to be deposited into the State Student Financial Assistance Trust Fund
- Principal funds must remain in the trust fund and be invested in accordance with Chapter 215; only the interest earned may be used to fund student scholarships
- Interest accumulated annually is to be equally allocated among all participating HBCUs, which must award scholarships to enrolled students with unmet financial need
- Effective date of July 1, 2023, with the State Board of Education directed to adopt rules necessary to administer the program
Legislative Description
Historically Black Colleges and Universities Matching Endowment Scholarship Program
Last Action
Died in Education Postsecondary
5/5/2023
Full Bill Text
No bill text available