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Indicates Matter Stricken
Indicates New Matter
AMENDED
May 21, 2008
S. 75
S. Printed 5/21/08--H.
Read the first time February 28, 2007.
TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 59-4-110 TO PROVIDE THAT THE SOUTH CAROLINA TUITION PREPAYMENT PROGRAM MAY NOT ACCEPT NEW PARTICIPANTS AND THE PROGRAM SHALL REMAIN IN OPERATION FOR EXISTING PARTICIPANTS.
Amend Title To Conform
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Chapter 4, Title 59 of the 1976 Code is amended by adding:
"Section 59-4-110. (A) Notwithstanding another provision of law, the South Carolina Tuition Prepayment Program may not accept new participants until the General Assembly authorizes the program to accept new participants by joint resolution.
(B) This section does not affect the existing participants in the program, and the South Carolina Tuition Prepayment Program remains in full operation for this purpose."
SECTION 2. Chapter 4, Title 59 of the 1976 Code is amended by adding:
"Section 59-4-120. For purposes of the Tuition Prepayment Program, the annual increase in tuition for an institution cannot exceed seven percent per year from Fiscal Year 2006-2007. To the extent that actual tuition for an institution exceeds an annual growth of seven percent per year, the institution shall grant a waiver of the difference to the designated beneficiary and must not pass along the difference to any student."
SECTION 3. This act takes effect July 1, 2008.
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