LRBa1253/1
MJL:cmh:hmh
1999 - 2000 LEGISLATURE
ASSEMBLY AMENDMENT 3,
TO 1999 ASSEMBLY BILL 654
February 2, 2000 - Offered by Representative Kreibich.
AB654-AA3,1,4
3"
(3) The president of the Wisconsin Association of Independent Colleges and
4Universities or his or her designee.".
AB654-AA3,1,8
814.63 (title)
College tuition prepayment and expenses program.
AB654-AA3,2,211
14.63
(1) (b) "Institution of higher education" means
a public or private
12institution of higher education that is accredited by an accrediting association
13recognized by the state treasurer, and a proprietary school approved by the
1educational approval board under s. 45.54 an eligible educational institution, as
2defined under 26 USC 529.
AB654-AA3,2,65
14.63
(3) (title)
Tuition prepayment College tuition and expenses
6contracts.".
AB654-AA3,2,1910
14.63
(4) Number of tuition units purchased. A person who enters into a
11contract under sub. (3) may purchase tuition units at any time and in any number,
12except that the total number of tuition units purchased on behalf of a single
13beneficiary may not exceed the number necessary to
pay for 4 years of full-time
14attendance, including mandatory student fees, as a resident undergraduate at the
15institution within the University of Wisconsin System that has the highest resident
16undergraduate tuition, as determined by the state treasurer, in the anticipated
17academic years of their use cover tuition, fees and the costs of room and board, books,
18supplies and equipment required for enrollment or attendance of the beneficiary at
19an institution of higher education.".
AB654-AA3,2,21
21"
Section 8m. 14.63 (11m) of the statutes is created to read:
AB654-AA3,3,422
14.63
(11m) Financial aid calculations. The value of tuition units shall not
23be included in the calculation of a beneficiary's eligibility for state financial aid for
24higher education if the beneficiary notifies the higher educational aids board and the
1institution of higher education that the beneficiary is planning to attend that he or
2she is a beneficiary of a contract under this section and the contract owner agrees to
3release to the higher educational aids board and the institution of higher education
4information necessary for the calculation under this subsection.
AB654-AA3,3,107
14.63
(13) Program termination. If the state treasurer determines that the
8program under this section is financially infeasible, the state treasurer shall
9discontinue entering into
tuition prepayment contracts under sub. (3) and
10discontinue selling tuition units under sub. (4).".
AB654-AA3,3,14
126. Page 6, line 8: after "public" insert ", except that the board may release to
13the appropriate state agency information necessary in determining a beneficiary's
14eligibility for state financial aid for higher education".
AB654-AA3,3,22
16"
(8) Financial aid calculations. The balance of a college savings account shall
17not be included in the calculation of a beneficiary's eligibility for state financial aid
18for higher education if the beneficiary notifies the higher educational aids board and
19the eligible educational institution that the beneficiary is planning to attend that he
20or she is a beneficiary of a college savings account and if the account owner agrees
21to release to the higher educational aids board and the eligible educational
22institution information necessary for the calculation under this subsection.".
AB654-AA3,4,5
4"(d) That the manager communicate to the beneficiary and account owner the
5requirements of s. 14.64 (8).".
AB654-AA3,4,10
10"
Section 13m. 20.585 (2) (a) of the statutes is amended to read:
AB654-AA3,4,1311
20.585
(2) (a)
Administrative expenses; general fund. The amounts in the
12schedule for the administrative expenses of the college tuition
prepayment and
13expenses program under s. 14.63, including the expense of promoting the program.
AB654-AA3,4,1815
20.585
(2) (s)
Administrative expenses; tuition trust fund. From the tuition
16trust fund, the amounts in the schedule for the administrative expenses of the college
17tuition
prepayment and expenses program under s. 14.63, including the expense of
18promoting the program.".
AB654-AA3,4,23
20"
(2) Notwithstanding the length of the terms specified in section 14.57 (6) of the
21statutes, as created by this act, the initial terms of 3 of the members appointed under
22section 14.57 (6) of the statutes, as created by this act, expire on May 1, 2003, and
23the initial terms of 3 of the members expire on May 1, 2005.".
AB654-AA3,5,3
1"
(2) The treatment of sections 14.63 (title), (3) (title), (a) 1. and 3. and (c), (4),
2(5) (a) and (b) (intro.) and 2., (8), (11) (b), (11m) and (13) and 20.585 (2) (a) and (s) of
3the statutes takes effect on the first day of the 4th month following publication.".
