6242-S AMS JACO S4886.2

SSB 6242 - S AMD -655

By Senators Jacobsen, Goings, Finkbeiner, Rossi and Heavey

                                               NOT ADOPTED 2/16/98

    On page 1, beginning on line 4, after "Sec. 1.", strike all material through "moneys." on line 14 and insert "The intent of this chapter is to provide permanent quality improvements and enrollment opportunities in Washington state's higher education system.  The legislature recognizes that the state's higher education system can be strengthened by additional partnerships among individual donors, private corporations, public institutions of higher education, and private institutions of higher education.  The legislature further recognizes that partnerships among donors, the business community, and higher education can form the basis for direct accountability, improve access, and strengthen Washington's higher education system.  The legislature intends to create a matching fund program to assist needy and meritorious students attend the Washington higher education institution of their choice and to assist institutions of higher education in creating endowments financed jointly by public and private moneys."

    On page 1, at the beginning of line 15, strike "The" and insert "Fifty percent of the"

    On page 1, line 16, after "students;" insert "fifty percent of the endowments are intended to provide financial aid and scholarship moneys to Washington residents to attend a Washington higher education institution;"

SSB 6242 - S AMD - 655

By Senators Jacobsen, Goings, Finkbeiner, Rossi and Heavey

    On page 2, line 17, after "(3)" insert ""Private institution of higher education" means a private nonprofit education institution, the main campus of which is permanently situated in the state, that is open to residents of the state, that provides programs of education beyond high school leading at least to the baccalaureate degree, and that is accredited by the Northwest association of schools and colleges.

    (4)"

    On page 2, line 20, after "established." strike "Funds" and insert "Fifty percent of the funds"

    On page 2, line 23, after "colleges." insert "Fifty percent of the funds appropriated by the legislature for the trust fund shall be deposited in an account in the state treasury for the higher education coordinating board."

    On page 2, after line 32, insert the following:

    "(3) State matching funds from the trust fund for the higher education coordinating board shall be used to award scholarships for Washington residents who have graduated from high school with a grade point average of 3.0, have financial need, and choose to attend college in Washington state."

    Renumber the subsections consecutively and correct internal references accordingly.

    On page 2, line 35, after "education" insert "or the higher education coordinating board"

SSB 6242 - S AMD - 655

By Senators Jacobsen, Goings, Finkbeiner, Rossi and Heavey

                                               NOT ADOPTED 2/16/98

    On page 3, line 2, after "foundation" insert "or the higher education coordinating board"

                            --- END ---

EFFECT:  The endowment for higher education now has two purposes:  (1) To provide scholarships for meritorious and needy students to attend the college of their choice in Washington state, and (2) to assist institutions of higher education in creating endowments financed jointly by public and private moneys.  Fifty percent of appropriated funds go the endowments and fifty percent of appropriated funds go to scholarships.  The scholarships will be available for students who attend any higher education institution in the state whether public or private.