COMMITTEE ON HIGHER EDUCATION

Representative Don Carlson, Chair

BILL ANALYSIS

SB 5200

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

BACKGROUND:  In 1996, the Legislature created the state educational trust fund.  The trust fund provides college financial assistance to needy or disadvantaged youth.  The students must participate in early awareness and outreach programs and enter a Washington institution of higher education within two years of graduating from high school.

The Higher Education Coordinating Board deposits grant and loan repayments into the trust.  The existing law requires the Higher Education Coordinating Board to deposit funds to the trust from the prior biennia.

SUMMARY:  The board will deposit repayments from the prior fiscal period, rather than the prior biennia.