92nd General Assembly
Summary of HB0841
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House Sponsors:
COWLISHAW.

Senate Sponsors:
WATSON

Short description: 
PREPD TUITION-GRANT-RETURN AMT                                             

Synopsis of Bill as introduced:
        Amends the Illinois Prepaid Tuition  Act.   Removes  a  provision      
   that  provides  that  if a qualified beneficiary is awarded a grant or      
   scholarship, then the amount of money returned to the purchaser  shall      
   equal the original purchase price plus 2% interest compounded annually      
   if  that amount is less than the current cost of tuition and mandatory      
   fees at the MAP-eligible institution where the  qualified  beneficiary      
   is  enrolled.   Provides  that if a qualified beneficiary is awarded a      
   grant or scholarship while enrolled at either a MAP-eligible nonpublic      
   institution of higher education  or  an  eligible  public  or  private      
   out-of-state  higher  education  institution, then the amount of money      
   returned to  the  purchaser  shall  not  exceed  the  current  average      
   mean-weighted  credit  hour  value  of the registration fees purchased      
   under the contract.  Makes other changes.  Effective immediately.           
 
Last action on Bill: PUBLIC ACT.............................. 92-0165

   Last action date: JUL-26-2001

           Location: House

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   0


   END OF INQUIRY 



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