Notice of Development of Rulemaking

STATE BOARD OF ADMINISTRATION
Florida Prepaid Postsecondary Education Expense Board
RULE NO: RULE TITLE
19B-11.005: Other Refunds
PURPOSE AND EFFECT: Revises the requirements for obtaining a refund for Prepaid Plans that have been partially used. Conforms this rule to the changes to Rules 19B-5.004 and 19B-11.001, F.A.C.
SUBJECT AREA TO BE ADDRESSED: The refund requirements of terminated Prepaid Plans.
SPECIFIC AUTHORITY: 1009.971(1), (4), (6) FS.
LAW IMPLEMENTED: 1009.98 FS.
IF REQUESTED IN WRITING AND NOT DEEMED UNNECESSARY BY THE AGENCY HEAD, A RULE DEVELOPMENT WORKSHOP WILL BE HELD AT THE DATE, TIME AND PLACE SHOWN BELOW:
TIME AND DATE: September 29, 2008, 2:00 p.m.
PLACE: Suite 210, Hermitage Building, 1801 Hermitage Boulevard, Tallahassee, Florida
THE PERSON TO BE CONTACTED REGARDING THE PROPOSED RULE DEVELOPMENT AND A COPY OF THE PRELIMINARY DRAFT, IF AVAILABLE, IS: Thomas J. Wallace, Executive Director, 1801 Hermitage Boulevard, Suite 210, Tallahassee, Florida 32308, telephone (850)488-8514

THE PRELIMINARY TEXT OF THE PROPOSED RULE DEVELOPMENT IS:

19B-11.005 Other Refunds.

If a beneficiary does not complete a Community College Plan, University Plan, or a Community College/University Plan for reasons other than those specified in Rules 19B-11.001 through 19B-11.004, F.A.C., the account may be terminated pursuant to Rule 19B-10.002, F.A.C., and the purchaser will have available a pro-rata refund of the amount paid into the fund is available. A refund under this rule will not include funds for any school year partially attended but not completed. A school year partially attended but not completed shall mean any one semester of a two semester school year whereby the student is enrolled at the conclusion of the official drop/add period, but withdraws before the end of such semester.

Specific Authority 1009.971(1), (4), (6) FS. Law Implemented 1009.971, 1009.98(5) FS. History–New 3-29-89, Amended 2-6-90, 3-19-92, Formerly 4G-11.005, Amended_________.