09 LC 28
4446
House
Bill 157
By:
Representative Harbin of the
118th
A
BILL TO BE ENTITLED
AN ACT
To
amend Code Section 50-27-13 of the Official Code of Georgia Annotated, relating
to the lottery shortfall reserve subaccounts, so as to revise the amounts in the
lottery accounts that trigger reductions in HOPE scholarship program benefits;
to provide a definition; to provide for related matters; to repeal conflicting
laws; and for other purposes.
BE
IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:
SECTION
1.
Code
Section 50-27-13 of the Official Code of Georgia Annotated, relating to the
lottery shortfall reserve subaccounts, is amended by revising paragraph (5) of
subsection (b) as follows:
"(5)(A)
For purposes of this subsection, the
term:
(i)
'Highest year-end balance' means the highest total amount of unexpended and
uncommitted funds in the Lottery for Education Account, as determined by the
state auditor, at the end of any fiscal year beginning with Fiscal Year 2004 and
continuing through the most recent fiscal year for which the state auditor has
verified the amount of such funds, which shall not include amounts contained in
the subaccounts provided for in paragraphs (3) and (4) of this
subsection.
(ii)
'year-end
'Year-end
balance'
shall
mean
means
the amount, as determined by the state auditor, of unexpended and uncommitted
funds in the Lottery for Education Account at the end of a fiscal year, which
shall not include amounts contained in the subaccounts provided for in
paragraphs (3) and (4) of this subsection.
(B)(i)
In the event that the year-end balance of a fiscal year is less than
92 percent
of the
highest
year-end balance
of the
fiscal year immediately preceding,
as defined in
this paragraph, then all scholarships and
grants for book allowances under Part 7 of Article 7 of Chapter 3 of Title 20
shall not exceed $150.00 per year beginning in the next fiscal year and
thereafter. This provision shall not apply to students who are eligible to
participate in the federal Pell Grant program.
(ii)
In the event that the year-end balance of any subsequent fiscal year is less
than 84
percent of the
highest
year-end balance
of the
fiscal year immediately preceding,
as defined in
this paragraph, then all scholarships and
grants for book allowances under Part 7 of Article 7 of Chapter 3 of Title 20
shall be eliminated beginning in the subsequent fiscal year and thereafter.
This provision shall not apply to students who are eligible to participate in
the federal Pell Grant program.
(iii)
In the event that the year-end balance of any further subsequent fiscal year is
less than 75
percent of the
highest
year-end balance
of the
fiscal year immediately preceding,
as defined in
this paragraph, then all scholarships and
grants for mandatory fees under Part 7 of Article 7 of Chapter 3 of Title 20
shall be eliminated beginning in the next fiscal year and
thereafter."
SECTION
2.
All
laws and parts of laws in conflict with this Act are repealed.