13148658, 19B-4.001 - Florida Administrative Rules, Law, Code, Register

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Florida Department of State and Division of Library and Information Services

Notice: 13148658

Notice of Proposed Rule

Department:

STATE BOARD OF ADMINISTRATION

Division:

Florida Prepaid College Board

Chapter:

ADVANCE PAYMENT CONTRACT APPLICATION AND PAYMENTS

Overview

RULE:

19B-4.001	Application
19B-4.002	Contract Prices
19B-4.005	Maximum Account Balance Limit (Repealed)

PURPOSE:

The purpose and effect of this rule development is to update rules to reflect modifications to the Florida Prepaid College Program.

SUMMARY:

The proposed rules amend the Master Covenant to increase consistency between the Florida Prepaid College Program and the Florida College Savings Program; to add beneficiaries as survivors; to allow the Florida Prepaid College Board to reduce or eliminate application fees; to allow the use of dormitory plans during summer terms; to allow for prepaid college plans to be downgraded instead of terminated, when possible; and to allow plans to be restored to the original Plan within six months of a Plan downgrade. The proposed rules additionally update references; include information that may be solicited from applicants to allow for an on-line application process, versus use of a printed form; amend actuarial assumptions for the Prepaid College Program; and provide flexibility in timing for review of plan pricing.

RULEMAKING AUTHORITY:

1009.971(1), (4), (6). F.S.

LAW:

1009.98, 1009.98(2), 1009.981, F.S.

PRINT PUBLISH DATE:

6/24/2013 Vol. 39/122

COMMENTS:

From 6/24/2013 To 7/15/2013 (21 Days)
The public comment period for this notice has already expired.

REFERENCE MATERIALS:

No reference(s).

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