19B-4.002: Contract Prices
PURPOSE AND EFFECT: This rule is amended to reflect the changes made to the maximum amount of the tuition differential fee by Chapter 2009-98, Laws of Florida. This law permits all state universities to impose the tuition differential fee and provides that the sum of the tuition differential fee, tuition and other fees may not exceed the national average of tuition and fees at public postsecondary education institutions. The changes revise the assumptions used for pricing tuition differential fee plans to conform to the new maximum amounts for the tuition differential fee.
SUBJECT AREA TO BE ADDRESSED: The assumptions used to establish pricing for prepaid plans covering the tuition differential fee.
SPECIFIC AUTHORITY: 1009.971(1), (4), (6) FS.
LAW IMPLEMENTED: 1009.98(2) 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: October 5, 2009, 2:00 p.m.
PLACE: Suite 210, Hermitage Building, 1801 Hermitage Boulevard, Tallahassee, Florida
Pursuant to the provisions of the Americans with Disabilities Act, any person requiring special accommodations to participate in this workshop/meeting is asked to advise the agency at least 5 days before the workshop/meeting by contacting: fax a written request for same to: Thomas J. Wallace, Executive Director, Florida Prepaid College Board, at (850)488-3555. If you are hearing or speech impaired, please contact the agency using the Florida Relay Service, 1(800)955-8771 (TDD) or 1(800)955-8770 (Voice).
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-4.002 Contract Prices.
The Board will evaluate the advance payment contract prices for revision annually. All advance payment contract prices will be published annually in the Florida Administrative Weekly. The advance payment contract prices for tuition plans are based on the actuarial assumption that university tuition will rise at an average of 6.5 percent per annum, community college tuition will rise at an average of 5 percent per annum and dormitory fees will rise at an average of 6 percent per annum. Local fee plan prices are based on the actuarial assumption that university local fees will rise at an average of 5 percent per annum and community college local fees will rise at an average of 6 percent per annum. The tuition differential fee plan prices are based on the actuarial assumption that the tuition differential fee will rise an average of 8.5 percent per annum until such time as the sum of the tuition differential fee and the fees specified in Section 1009.24(16)((b)4., F.S., reaches the maximum amount permitted pursuant to Section 1009.24(16)(b)4., F.S., as determined by the Education Estimating Conference pursuant to Section 216.134(4)(a), F.S. reaches forty percent (40%) of tuition at Funding Level 1 schools and thirty percent (30%) of tuition at Funding Level 2 schools. Once the sum of the tuition differential fee and the fees specified in Section 1009.24(16)(b)4., F.S., equals reaches the maximum amount permitted pursuant to Section 1009.24(16)(b)4., F.S. level, the actuarial assumption is that the tuition differential fee will rise an average of 6.5% per annum thereafter.
Rulemaking Specific Authority 1009.971(1), (4), (6) FS. Law Implemented 1009.98(2) FS. History–New 3-29-89, Amended 2-6-90, 3-19-92, Formerly 4G-4.002, Amended 5-31-95, 2-18-99, 2-8-00, 12-28-03, 12-28-04, 12-20-05, 12-17-07,________.