HB 477 Summary

• Establishes a Postsecondary Credit Scholarship program beginning with the spring 2016 graduating class, providing $2,000 for students earning 10+ postsecondary semester credits, $4,000 for 20+ credits, and $8,000 for students earning an associate degree.

• Requires scholarship recipients to have been awarded an equal merit-based scholarship from business or industry sources (not institutional funds) and must maintain at least 12 passing credits per semester to continue receiving distributions.

• Funds the scholarship from the advanced opportunities program within the educational support program, allocating up to $1,000,000 in fiscal year 2017 and $2,000,000 annually in fiscal year 2018 and thereafter.

• Limits scholarship use to four years from high school graduation at eligible institutions defined in Idaho Code section 33-4303(2)(b), with distributions made quarterly during full-time attendance.

• Requires the State Board of Education to report annually by January 15 to the legislature on the number of scholarships awarded and total moneys distributed; removes references to the "8 in 6 program" from Idaho Code section 33-1002.