CHAPTER 70
HB 699-FN-A - FINAL VERSION
29april99.....0721h
5jan00.....2056h
30march00.....4028-EBA
2000 SESSION
HOUSE BILL 699-FN-A
AN ACT establishing the granite state scholars program and making an appropriation therefor.
SPONSORS: Rep. Estabrook, Straf 8; Rep. M. Smith, Straf 8; Rep. Belvin, Hills 14; Rep. O'Hearn, Hills 26; Rep. Larrabee, Merr 9; Sen. Wheeler, Dist 21; Sen. Hollingworth, Dist 23
This bill establishes the granite state scholars program which recognizes highly qualified high school graduates and provides a state match for private funds raised by public institutions of higher education to be used for incentive grants to granite state scholars pursuing degree programs at public colleges and universities within the state. The bill makes an appropriation of $1 for the program.
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Explanation: Matter added to current law appears in bold italics.
Matter removed from current law appears [in brackets and struckthrough.]
Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
29april99.....0721h
5jan00.....2056h
30march00.....4028-EBA
99-0647
04/02
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand
AN ACT establishing the granite state scholars program and making an appropriation therefor.
Be it Enacted by the Senate and House of Representatives in General Court convened:
70:1 New Paragraph; Postsecondary Education Commission; Rulemaking for Granite State Scholars Program Added. Amend RSA 188-D:8-a by inserting after paragraph II the following new paragraph:
III. Administration of the granite state scholars program as established in RSA 188-D:38.
70:2 New Subdivision; Granite State Scholars Program. Amend RSA 188-D by inserting after section 35 the following new subdivision:
Granite State Scholars Program
188-D:36 Program Established; Intent. There is hereby established the granite state scholars program for the benefit of highly qualified New Hampshire residents pursuing programs of study at public colleges and universities within the state. The intent of the program is to encourage eligible New Hampshire residents to pursue public postsecondary education within the state by offering grant-based financial aid to such students.
188-D:37 Definitions. In this subdivision:
I. "Participating institution" means any public institution within the state which has been authorized by the postsecondary commission under RSA 188-D to award either an associate's degree or a bachelor's degree, or both.
II. "Endowment fund" means the granite state scholars financial aid endowment fund.
III. "Program" means the granite state scholars program.
188-D:38 Program Administration.
I. The state board of education shall adopt rules, under RSA 541-A, relative to student and institutional eligibility criteria.
II. The postsecondary education commission shall adopt rules pursuant to RSA 541-A necessary to administer the program and the state board of education shall provide student and institutional eligibility criteria to the postsecondary education commission.
188-D:39 Granite State Scholar Designation; Special Recognition.
I. The granite state scholar designation shall be made for any New Hampshire resident who graduates in the top 10 percent of his or her class from an accredited New Hampshire high school, and who receives a combined score of 1200 or more on the Scholastic Aptitude Test I, or the equivalent score on the ACT Assessment examination. The granite state scholar designation shall be determined using class rank and standardized test scores taken no later than January 31 of the student's senior year in high school.
II. The state board of education shall adopt rules, pursuant to RSA 541-A, relative to establishing the granite state scholar designation in high schools that do not calculate class rank, in non-accredited high schools, and for home schooled students.
III. Granite state scholars shall receive special recognition from the governor and shall be eligible for grants from the endowment fund established in this subdivision.
188-D:40 Granite State Scholars Financial Aid Endowment Fund Established.
I. All moneys appropriated for the purposes of this subdivision shall be used to provide leveraged incentive grants to participating institutions in New Hampshire for the establishment of an endowment fund according to the provisions of this subdivision.
II. Participating institutions shall establish a separate endowment fund for the deposit of private contributions and gifts for the purposes of the program. Gifts or contributions may come from any source, including, but not limited to, private individuals or corporations, trusts, or foundations.
188-D:41 Grants.
I. Each private gift or contribution made shall be matched by state funds in accordance with the dollar amount of the individual gift or contribution. The annual matching amount of state funds for each individual private gift or contribution shall be as follows:
$1-$99,999 50 percent state matching grant
$100,000-$999,999 75 percent state matching grant
$1,000,000 or more 100 percent state matching grant
II. Participating institutions shall maintain an accounting of all gifts and contributions made to the program, and shall forward a report of such accounting to the postsecondary education commission no later than May 1 of each fiscal year.
III. On June 1 of each fiscal year, the postsecondary education commission shall distribute matching funds to participating institutions based on documented gifts and contributions received during the preceding 12 months. State matching funds shall be deposited into the endowment fund established at each participating institution or the participating institution's foundation.
IV. Grant awards shall be made on the basis of merit and need, and the participating institution may determine the most suitable method of grant disbursement to granite state scholars enrolling at the participating institution. Grant awards shall only be conferred upon verification of high school graduation and achievement of the academic criteria set forth in this subdivision.
V. If the state matching funds are insufficient to meet the grant amounts required under paragraph I of this section, grants shall be calculated and disbursed according to a percentage derived by dividing the actual state matching funds appropriated by the amount of state funds necessary to meet full matching grant amounts.
188-D:42 Investment of State Matching Funds. A participating institution shall invest all funds in the endowment fund provided that:
I. All earnings including interest, dividends, equity appreciation, and any other form of increased value shall be reinvested in the endowment fund or distributed to granite state scholars.
II. The historic dollar value of the endowment fund as defined in RSA 292-B:1-a, V shall not be invaded, transferred, or used for any purpose other than the program.
III. The funds are invested consistent with the provisions of RSA 292-B.
70:3 Appropriation. The sum of $1 for the fiscal year ending June 30, 2000, and the sum of $1 for the fiscal year ending June 30, 2001, are hereby appropriated to the postsecondary education commission for the purposes of this act. The governor is authorized to draw a warrant for said sums out of any money in the treasury not otherwise appropriated.
70:4 Applicability. Section 5 of this act shall take effect at such time as the commissioner of the postsecondary education commission certifies to the secretary of state that $25,000,000 or more in state funds has been appropriated for the purposes of this act.
70:5 Prospective Repeal. RSA 188-D:41, I-III, and RSA 188-D:41, V, as inserted by section 2 of this act, relative to matching funds provided to the granite state scholars program, are repealed.
70:6 Effective Date.
I. Section 5 of this act shall take effect as provided in section 4.
II. The remainder of this act shall take effect July 1, 1999.
(Approved: April 21, 2000)
(Effective Date: I. Section 5 shall take effect as provided in section 4.
II. Remainder shall take effect July 1, 1999)
LBAO
99-0647
Amended 1/19/00
HB 699 FISCAL NOTE
AN ACT establishing the granite state scholars program and making an appropriation therefor.
FISCAL IMPACT:
The Postsecondary Education Commission stated this bill, as amended by the House, will increase state expenditures by $1 in FY 2000 and $1 in FY 2001. There will be no fiscal impact on county and local expenditures or state, county and local revenue.
This bill appropriates $1 from the general fund in FY 2000 and $1 in FY 2001 to the Postsecondary Education Commission for the purposes of this act.
METHODOLOGY:
The FY 2000 and FY 2001 funding is to be used to provide leveraged incentive grants to participating institutions in New Hampshire. This bill provides that if the state matching funds are insufficient to meet the grant amounts required in this bill, the grants shall be provided by a percentage equal to the amount appropriated, divided by the grant amount required.