04RS SB96


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SB 96 (BR 908) - B. Guthrie

     AN ACT relating to postsecondary education finance.
     Amend KRS 164.740 to delete definitions of "business school", "college", "grant", "school of nursing", and "vocational school"; amend for clarity definitions of "eligible institution", "participating lender", and "scholarship"; to define "institutional grant" and "student grant"; amend KRS 164.748 to clarify powers, functions, and duties of the boards of the Kentucky Higher Education Assistance Authority (KHEAA) and the Kentucky Higher Education Student Loan Corporation (KHESLC), including allowing the boards to enter into contracts with the Kentucky Educational Savings Plan Trust (KESPT) and the Commonwealth Postsecondary Education Prepaid Tuition Trust Fund without it being considered a memorandum of agreement; and to award grants to eligible entities upon application and such other terms and conditions as the board prescribes; amend KRS 164.753 to ensure a student's scholarship does not exceed the student's total cost of attendance and to conform; amend KRS 164.785 to conform, and to limit, for eligibility purposes, the maximum number of academic terms a student has not previously attended a college or university; to require the use of the free application for federal student aid as a method of needs analysis for grant eligibility purposes; amend KRS 164A.050 to provide mutuality of services between KHEAA, KHESLC, KESPT, and KAPT by agreements that would be exempt from filing with the Government Contract Review Committee; amend KRS 164A.350 to give KHEAA the option of charging a penalty instead of requiring a penalty for withdrawals not used for payment of the beneficiary's higher education costs; amend KRS 45A.690, 164.7535, 164.7881, and 164A.060 to conform.


     SCS - Retain original provisions, except restore the requirement for a legislative contract review when KHEAA contracts with the KY Student Loan Corp. and the boards for the KY Savings Plan Trust and the KY Prepaid Tuition Trust Fund; eliminate terms "student grants" and "institutional grants" and restore previous language relating to grants; make technical changes to conform.

     SFA (1, D. Karem) - Delete new language in KRS 164A.050 authorizing the Kentucky Higher Education Student Loan Corporation to purchase liability insurance.

     HFA (1, R. Damron) - Create a new section of KRS 164A.550 to 164A.630 to provide an intercept clause to ensure payment on agency bonds issued by postsecondary institutions.

     Jan 15-introduced in Senate
     Jan 21-to State and Local Government (S)
     Mar 2-reported favorably, 1st reading, to Calendar with Committee Substitute
     Mar 3-2nd reading, to Rules; floor amendment (1) filed to Committee Substitute
     Mar 8-posted for passage in the Regular Orders of the Day for Tuesday, March 9, 2004
     Mar 9-3rd reading, passed 38-0 with Committee Substitute, floor amendment (1) ; received in House
     Mar 10-to State Government (H)
     Mar 11-posted in committee
     Mar 16-reported favorably, 1st reading, to Calendar
     Mar 17-2nd reading, to Rules
     Mar 18-posted for passage in the Regular Orders of the Day for Friday, March 19, 2004
     Mar 23-floor amendment (1) filed
     Mar 26-3rd reading, passed 88-1 with floor amendment (1) ; received in Senate
     Mar 29-posted for passage for concurrence in House floor amendment (1) for Monday, March 29, 2004; Senate concurred in House floor amendment (1) ; passed 33-0; enrolled, signed by each presiding officer; delivered to Governor
     Apr 9-signed by Governor (Acts ch. 111)

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