Student grant assistance program.

WORKING DRAFT
2005
STATE OF WYOMING
05LSO-0225

SENATE FILE
NO.
SF0102

Student grant assistance program.

Sponsored by:
Senator(s) Boggs, Coe, Decaria, Job and Peck and Representative(s) Luthi, Warren and Wasserburger

A BILL

for

AN ACT relating to higher education assistance; establishing the student unmet need grant assistance program as specified; providing for administration by the University of Wyoming and the Wyoming community college commission; sunsetting the program; providing an appropriation; terminating the leveraging education assistance partnerships program; and providing for an effective date.

Be It Enacted by the Legislature of the State of Wyoming:

Section 1.

W.S. 21
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16
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1201 is created to read:

ARTICLE 12
STUDENT UNMET NEED GRANT ASSISTANCE PROGRAM

21
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16
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1201.

Student unmet need grant assistance program.

(a)

The student unmet need grant assistance program is established to provide financial assistance to low income college students attending the University of Wyoming or a Wyoming community college. Applicants for assistance under this section shall be residents of the state or graduates from a Wyoming high school and may apply for assistance in accordance with this section.

(b)

The University of Wyoming, for assistance for attendance at the university, and the Wyoming community college commission, for assistance for attendance at a Wyoming community college, shall establish the form and process for application for assistance and shall establish procedures governing the review and approval of applications. Subject to the availability of funds appropriated for this program, assistance may be approved for applicants enrolled or planning to enroll at the university or a Wyoming community college and who have been approved to receive a subsidized loan guaranteed by the federal government for an unmet financial need.

(c)

Amounts available to any applicant under this section shall be limited to fifty percent (50%) of the applicant's subsidized loan amount which is guaranteed by the federal government. In addition, no one (1) applicant shall receive more than fifty percent (50%) of the maximum subsidized loan allocation amount during any six (6) year period.

(d)

Funding of the assistance program established under this section shall be by legislative appropriation.

(e)

The University of Wyoming and the Wyoming community college commission shall annually review the assistance program established under this section and report to the governor and the legislature in accordance with W.S. 9
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2
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1014 regarding program results, funds received and assistance provided during the preceding academic year.

(f)

The student unmet need assistance program created under this section shall expire effective June 30, 2008.

Section 2.

(a)

For purposes of this act and for the fiscal year commencing July 1, 2005, and ending June 30, 2006, five million seven hundred twenty-four thousand three hundred nineteen dollars ($5,724,319.00) is appropriated from the general fund to the University of Wyoming, and three million three hundred forty-five thousand thirty-seven dollars ($3,345,037.00) is appropriated from the general fund to the Wyoming community college commission.

(b)

Any unexpended, unobligated or unencumbered funds as of July 1, 2005, which were appropriated to the University of Wyoming for the leveraging education assistance partnerships program (LEAP) under 2004 Wyoming Session Laws, Chapter 95, Section 067, shall be transferred to the general fund. Any unexpended, unobligated or unencumbered funds as of July 1, 2005, which were appropriated to the Wyoming community college commission for the leveraging education assistance partnerships program (LEAP) under 2004 Wyoming Session Laws, Chapter 95, Section 057, shall be transferred to the general fund.

Section 3.

This act is effective July 1, 2005.

(END)

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SF0102