21860422, 19B-16.003 - Florida Administrative Rules, Law, Code, Register

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Florida Department of State and Division of Library and Information Services

Notice: 21860422

Notice of Proposed Rule

Department:

STATE BOARD OF ADMINISTRATION

Division:

Florida Prepaid College Board

Chapter:

FLORIDA COLLEGE SAVINGS PROGRAM

Overview

RULE:

19B-16.003

Participation Agreement

PURPOSE:

The purpose and effect of this proposed rule is amend the Participation Agreement and Terms and Conditions for the Florida Prepaid College Board's Savings Program to address recent changes to Federal law regarding 529 Plans and to simplify the contract for consumers by updating contract provisions.

SUMMARY:

This rule and the incorporating documents are revised to reflect changes to Federal law regarding 529 plans, which this rule governs. The revisions to the incorporating documents are to update the contract provisions to reflect those federal changes, and to include new Florida residency requirements.

RULEMAKING AUTHORITY:

1009.971(1), (4), (6). FS.

LAW:

1009.971, 1009.981(1)(c), and 1009.981(2) FS.

PRINT PUBLISH DATE:

5/14/2019 Vol. 45/94

COMMENTS:

From 5/14/2019 To 6/4/2019 (21 Days)
The public comment period for this notice has already expired.

REFERENCE MATERIALS:

No reference(s).

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