Relating to methods of paying for post-secondary education; prescribing an effective date.
Catchline/Summary:
Establishes the Guaranteed Opportunity Program. Digest: The Act creates a program to provide money for higher learning students. The Act requires students to repay the program for receiving money. (Flesch Readability Score: 62.7).
Establishes the Guaranteed Opportunity Program. Requires the Office of Student Access and Completion to administer the program. Requires the State Workforce and Talent Development Board to monitor the program every two years and make recommendations to the Legislative Assembly on whether modifications are necessary to enhance the state's workforce. Establishes that the program becomes operative on January 1, 2045.
Establishes the Guaranteed Opportunity Program Implementation Fund.
Requires the Higher Education Coordinating Commission, on the effective date of the Act, to begin the process of developing the policy and rules necessary to implement the Guaranteed Opportunity Program. Requires the commission to submit a report regarding the progress on the development of policy and rules to committees related to public finance and higher education during the 2026 and 2027 regular sessions of the Legislative Assembly.
Establishes the Task Force on Implementing the Guaranteed Opportunity Program. Requires the task force to determine the amount of moneys the program will need to raise through bonding, determine which current grant and scholarship programs should be repealed on the operative date of the Guaranteed Opportunity Program and analyze the methods for preventing bad faith participation of participants in the program.
Sunsets the task force on December 31, 2026.
Takes effect on the 91st day following adjournment sine die.
Chapter Number:
Fiscal Impact:
May Have Fiscal Impact, But No Statement Yet Issued
Revenue Impact:
May Have Revenue Impact, But No Statement Yet Issued
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