02RS HB386


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HB 386 (BR 1576) - R. Adkins

     AN ACT relating to Kentucky's postsecondary education prepaid tuition program.
     Amend KRS 164A.700 to add definitions and to clarify some existing definitions; amend KRS 164A.701 and 164A.703 to make technical changes; amend KRS 164A.704 to permit the board to develop, sponsor, and maintain a scholarship program if deemed feasible for financially disadvantaged families and students; amend KRS 164A.705 to clarify the procedures to be followed when a qualified beneficiary attends an eligible educational institution for which payment is not guaranteed in whole or in part; amend KRS 164A.707 to clarify the payment of tuition contracts; amend KRS 164A.709 to clarify the payment procedures and value of accounts when a prepaid tuition contract is terminated, including providing that if a purchaser cancels an account before it matures, the purchaser would receive the payments made, minus any administrative and cancellations fees and providing that the board may refund a rate of interest as well.

     Jan 16-introduced in House
     Jan 17-to Education (H)
     Jan 25-posted in committee
     Jan 30-reported favorably, 1st reading, to Calendar
     Jan 31-2nd reading, to Rules; posted for passage in the Regular Orders of the Day for Friday, February 1, 2002
     Feb 1-3rd reading; returned to the Orders of the Day
     Feb 4-passed 95-0
     Feb 5-received in Senate
     Feb 7-to Education (S)
     Feb 20-reported favorably, 1st reading, to Consent Calendar
     Feb 21-2nd reading, to Rules
     Feb 26-posted for passage in the Consent Orders of the Day for Wednesday, February 27, 2002
     Feb 27-3rd reading, passed 37-0
     Feb 28-received in House; enrolled, signed by each presiding officer; delivered to Governor
     Mar 7-signed by Governor (Acts ch. 25)

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