Current Amendment: 3700 MATTHEWS -- NEED-BASED.DOCX to Bill 3700
Senator MATTHEWS proposes the following amendment (3700 MATTHEWS -- NEED-BASED.DOCX):
Amend the bill, as and if amended, Part IB, Section 6, COMMISSION ON HIGHER EDUCATION, page 379, immediately after line 2, by adding an appropriately numbered new proviso to read:
/ 6. (CHE: Need-based Grants) Public four-year higher education institutions shall deposit fifty percent of non-resident of South Carolina student tuition and fees in excess of educational and general expenses into a separate account to fund a need-based grants program. This requirement does not apply to institutions whose non-resident of South Carolina enrollment comprises twenty percent or less of the total enrollment. The required funding shall be based on the number of full-time equivalent, non-resident students that exceeds twenty percent of the institution's total enrollment. The higher education institution must use the funding for need-based grants within the college or university. Higher education institutions must award the need-based grants to South Carolina residents who meet the eligibility requirements of the need-based grants program administered by the Commission on Higher Education. Funds provided pursuant to this provision are to be retained by the higher education institution in a separate account. Each institution shall make an annual report on the use of the funds to the Commission on Higher Education, the Senate Finance Committee and the House Ways and Means Committee. The report shall include, among other items, the number of grants awarded, the average amount of award per recipient and the number of need-eligible students at the institution. Unexpended funds provided pursuant to this provision may be carried forward to succeeding fiscal years and shall be expended for the same purpose.
Renumber sections to conform.
Amend sections, totals and title to conform.