Bill No.: SF0086 Drafter: DKG

LSO No.: 06LSO-0145 Effective Date: 7/1/2006

Enrolled Act No.: SEA0054

Chapter No.: 45

Prime Sponsor: Joint Education Interim Committee

Catch Title: Higher education appropriations.

Subject: Appropriations for the Hathaway scholarship program and for higher education endowments.

Summary/Major Elements:

· The Hathaway scholarship program was created last session and this session to be implemented for the upcoming school year. The program is to be funded by earnings from an endowment account. Since those earnings will not be sufficient for the first two school years, given the timing and amounts deposited to the endowment account, this bill provides a direct appropriation to fund the scholarship program for the first two years.

· The bill appropriates $13.5 million to the Hathaway scholarship expenditure account. A general fund appropriation in the budget bill of $13.5 million for the same purposes, which was made in case this bill failed, is reduced by the appropriation in this bill.

· The bill also appropriates $556,200 to the department of education to implement the Hathaway program. This appropriation is reduced by the budget bill appropriation to the department for the same purposes.

· The bill also appropriates $2.8 million to the University and $1.4 million to the community colleges (total) for the higher education endowment program previously established in order for those entities to implement that program this upcoming school year.

Comments:

· Popular name – Hathaway and excellence in higher education programs.