Summary of SB 600

• Amends eligibility requirements for the Oklahoma Tuition Equalization Grant program to require participating institutions to hold not-for-profit status from both the Internal Revenue Service and U.S. Department of Education prior to July 1, 2012.

• Replaces "Hillsdale Free Will Baptist College" with "Randall University" in the list of eligible institutions for the grant program.

• Maintains existing grant amounts of $2,000 per academic year or $1,000 per academic semester, with eligibility limited to Oklahoma resident full-time undergraduate students with parental income not exceeding $50,000 annually.

• Requires the State Regents to submit annual reports to the Governor and legislature including student counts, grade point averages, persistence rates, degree completion rates, and demographic data.

• Effective July 1, 2017, with emergency clause allowing immediate implementation upon passage and approval.