10508124, 6E-4.005 - Florida Administrative Rules, Law, Code, Register

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Florida Department of State and Division of Library and Information Services

Notice: 10508124

Notice of Proposed Rule

Department:

DEPARTMENT OF EDUCATION

Division:

Commission for Independent Education

Chapter:

GENERAL INFORMATION

Overview

RULE:

6E-4.005

Student Protection Fund; Trainout Procedures for Closure

PURPOSE:

The purpose of the proposed rule is to define annual tuition revenue generated in Florida and to require use of a form to report this information to the Commission and to require institutions to list assets and liabilities on a form and to list the type of financial statement provided by the institution on a form. The effect of the proposed rule is to clarify the term to assist institutions when calculating payments into the Student Protection Fund and to promote efficiency by requiring the use of a form in transmitting this information to the Commission.

SUMMARY:

Non-degree nonpublic institutions are assessed a fee to support the Student Protection Fund. This Fund is used to complete the training of a student who enrolls in a school that terminates a program or ceases operation before the student has completed his program of study. The fee is based upon .0005 of the annual tuition revenue generated in Florida. The proposed rule defines that term and requires licensed institutions to report the information on CIE Form 604, Selected Financial Data, which is incorporated by reference in Rule 6E-2.004.

RULEMAKING AUTHORITY:

1005.37 FS.

LAW:

1005.35(4)(g), 1005.36(3), 1005.37 FS.

PRINT PUBLISH DATE:

10/14/2011 Vol. 37/41

COMMENTS:

From 10/14/2011 To 11/4/2011 (21 Days)
The public comment period for this notice has already expired.

REFERENCE MATERIALS:

No reference(s).

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