FINAL BILL REPORT

                  HB 1054

                         C 269 L 97

                     Synopsis as Enacted

Brief Description:  Referencing the prior fiscal period rather than biennia for refunds and recoveries to the state educational trust fund.

Sponsors: Representatives Dunn, Carlson, Mason and Mielke; by request of Higher Education Coordinating Board.

House Committee on Higher Education

Senate Committee on Higher Education

Background:  The state educational trust fund is a non-appropriated fund from which the Higher Education Coordinating Board may make expenditures for the primary purpose of providing college financial assistance to needy or disadvantaged students.

Under some circumstances, students must repay grants or loans received as student financial aid.  When the Higher Education Coordinating Board receives repayments of grant and loan money expended in prior fiscal biennia, it must deposit the money into the educational trust fund.

A Afiscal period@ is the period for which an appropriation is made.  Amounts appropriated by the Legislature for student financial aid are typically appropriated by fiscal year rather than by fiscal biennium.

Summary:  The Higher Education Coordinating Board must deposit in the educational trust fund amounts received as repayments of student financial aid expended in prior fiscal periods, rather than prior fiscal biennia.

Votes on Final Passage:

House  97 0

Senate 48 0 (Senate amended)

House       (House refused to concur)

Conference Committee

Senate 41 0

House  97 0

Effective: July 27, 1997