House committee substitute makes the following changes to 1st edition. Deletes the first edition and replaces it with AN ACT TO ESTABLISH THE MINIMUM WAGE WORKER SCHOLARSHIP FUND.
Amends Article 23 of GS Chapter 116 to add new GS 116-209.46 establishing the Minimum Wage Worker Scholarship Fund (Fund). Provides definitions as they apply in the statute including identifying schools that meet the definition of an eligible institution. Provides that the Fund’s purpose is to provide scholarships to students who have worked long term in minimum wage jobs and are pursuing a college degree. Makes scholarships available for part-time or full-time coursework. Provides that the State Education Assistance Authority (Authority) is to administer the Fund and directs the Authority to adopt rules to administer the Fund.
Directs the Authority to develop eligibility criteria for awarding scholarships from the Fund and specifies eligibility criteria that are to be included. Prohibits receiving a scholarship in an amount that when combined with all other federal and state financial aid received by the student, the amount exceeds the student’s attendance cost per academic year as defined for federal Title IV programs. Provides criteria governing the amount of the scholarship awards. Directs the Authority to make an annual report to the Joint Legislative Education Oversight Committee by December 1 regarding the Fund and scholarships awarded from the Fund.