HB645: (2nd New Title) relative to educational scholarship grants by the postsecondary education commission to qualifying private education institutions.

HB 645-FN-A-LOCAL - AS AMENDED BY THE HOUSE

07Jan2004... 2511h

05Feb2004... 0252h

2003 SESSION

03-0412

10/09

HOUSE BILL 645-FN-A-LOCAL

AN ACT relative to educational scholarship grants by the postsecondary education commission to qualifying private education institutions.

SPONSORS: Rep. Hunt, Ches 28; Sen. Martel, Dist 18

COMMITTEE: Municipal and County Government

AMENDED ANALYSIS

This bill establishes a program to be administered by the postsecondary education commission for educational scholarship grants to be made annually to qualifying private education institutions. Grants are to be used for state residents and are limited to the lesser of education funds provided to students by each institution or the amount of property taxes paid by the institution.

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Explanation: Matter added to current law appears in bold italics.

Matter removed from current law appears [in brackets and struckthrough.]

Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

07Jan2004... 2511h

05Feb2004... 0252h

03-0412

10/09

STATE OF NEW HAMPSHIRE

In the Year of Our Lord Two Thousand Three

AN ACT relative to educational scholarship grants by the postsecondary education commission to qualifying private education institutions.

Be it Enacted by the Senate and House of Representatives in General Court convened:

1 New Paragraph; Postsecondary Education Commission; Rulemaking. Amend RSA 188-D:8-a by inserting after paragraph III the following new paragraph:

IV. The procedure for application, method of disbursement, and administration of funds in the educational scholarship fund under RSA 188-D:43.

2 New Subdivision; Educational Scholarship Fund. Amend RSA 188-D by inserting after section 42 the following new subdivision:

Educational Scholarship Fund

188-D:43 Educational Scholarships. The postsecondary education commission shall administer a program for the granting of educational scholarship funds to qualifying private, secondary and postsecondary, educational institutions in this state as follows:

I. A private educational institution that pays property taxes on the value of the dormitories, dining rooms, and kitchens pursuant to RSA 72:23, IV, and which has New Hampshire residents comprising more than 10 percent of its boarding students, may apply for and, within the available funds, receive from the postsecondary education commission an annual sum up to the amount of such property taxes paid in the previous tax year for the purpose of funding educational scholarships for New Hampshire residents at the institution, as determined by rules of the postsecondary education commission adopted under RSA 188-D:8-a, IV.

II. Any grants made under this section shall be for the purpose of providing educational scholarships for New Hampshire residents at the qualifying institution.

III. The annual grant amount for each institutional applicant shall be limited to the lesser of the proposed amount of educational scholarship funds to be provided to New Hampshire students by the educational institution or the taxes paid in the previous tax year by such institution pursuant to RSA 72:23, IV.

IV. If at any time sufficient funds for grant awards are not available in the educational scholarship fund under RSA 188-D:44 to fund in full all grant applications qualifying under paragraph III, then the dollar amount of the grant to each qualifying institution shall be determined and awarded from funds in the educational scholarship fund in the same proportion that the total dollar amount of each institution's qualifying application bears to the total dollar amount of all qualifying applications.

188-D:44 Fund Established. There is hereby established a special fund to be known as the educational scholarship fund. The fund shall consist of such moneys as may be appropriated for the purposes of this subdivision. The fund shall be managed by the state treasurer and shall be continually appropriated to the postsecondary education commission for the purposes of this subdivision.

3 New Subparagraph; State Accounts; Application of Receipts. Amend RSA 6:12, I(b) by inserting after subparagraph (227) the following new subparagraph:

(228) Moneys deposited in the educational scholarship fund established in RSA 188-D:44.

4 Effective Date. This act shall take effect July 1, 2005.

LBAO

03-0412

Amended 2/10/04

HB 645 FISCAL NOTE

AN ACT relative to educational scholarship grants by the postsecondary education commission to qualifying private education institutions.

FISCAL IMPACT:

The Office of Legislative Budget Assistant has determined this bill, as amended by the House (Amendment #2004-0252h), will have no fiscal impact on state, county and local revenue or expenditures.

METHODOLOGY:

The Office stated this bill establishes a new educational scholarship fund, and authorizes the Postsecondary Education Commission to establish rules relative to the application, method of disbursement, and administration of funds in the fund. This bill further states the fund shall consist of such moneys as may be appropriated for the purposes of the fund. This bill does not contain an appropriation into the fund.