HB 254: "An Act relating to disclosure of public records identifying a participant in the advance college tuition payment program; relating to the composition and assets of the Alaska advance college tuition payment fund; relating to administration of the advance college tuition payment program; relating to advance college tuition payment contracts; and providing for an effective date."
00HOUSE BILL NO. 254 01 "An Act relating to disclosure of public records identifying a participant in the 02 advance college tuition payment program; relating to the composition and assets 03 of the Alaska advance college tuition payment fund; relating to administration of 04 the advance college tuition payment program; relating to advance college tuition 05 payment contracts; and providing for an effective date." 06 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 07 * Section 1. AS 09.25.120(a) is amended to read: 08 (a) Every person has a right to inspect a public record in the state, including 09 public records in recorders' offices, except 10 (1) records of vital statistics and adoption proceedings, which shall be 11 treated in the manner required by AS 18.50; 12 (2) records pertaining to juveniles unless disclosure is authorized by 13 law; 14 (3) medical and related public health records;
01 (4) records required to be kept confidential by a federal law or 02 regulation or by state law; 03 (5) to the extent the records are required to be kept confidential under 04 20 U.S.C. 1232g and the regulations adopted under 20 U.S.C. 1232g in order to secure 05 or retain federal assistance; 06 (6) records or information compiled for law enforcement purposes, but 07 only to the extent that the production of the law enforcement records or information 08 (A) could reasonably be expected to interfere with enforcement 09 proceedings; 10 (B) would deprive a person of a right to a fair trial or an 11 impartial adjudication; 12 (C) could reasonably be expected to constitute an unwarranted 13 invasion of the personal privacy of a suspect, defendant, victim, or witness; 14 (D) could reasonably be expected to disclose the identity of a 15 confidential source; 16 (E) would disclose confidential techniques and procedures for 17 law enforcement investigations or prosecutions; 18 (F) would disclose guidelines for law enforcement investigations 19 or prosecutions if the disclosure could reasonably be expected to risk 20 circumvention of the law; or 21 (G) could reasonably be expected to endanger the life or 22 physical safety of an individual; 23 (7) names, addresses, and other information identifying a person as 24 a participant in the advance college tuition payment program under AS 14.40.803 25 - 14.40.817. 26 * Sec. 2. AS 14.40.803(b) is amended to read: 27 (b) The fund consists of 28 (1) permanent fund dividend and cash contributions made under 29 AS 14.40.807 under the terms of an advance tuition payment contract; 30 (2) appropriations, gifts, bequests, and contributions [OF CASH OR 31 OTHER ASSETS]; and
01 (3) income and earnings of the fund. 02 * Sec. 3. AS 14.40.803(c) is amended to read: 03 (c) Assets of the fund shall be expended to make payments to the university 04 and other eligible educational institutions, including payments for refunds, 05 redemptions, and awards under an advance tuition payment contract or a prepaid 06 tuition scholarship, and costs of administration of the fund. 07 * Sec. 4. AS 14.40.805(11) is amended to read: 08 (11) make payments to the university as requested by the board, 09 including payments for refunds, [AND] redemptions, and awards under an advance 10 tuition payment contract or a prepaid tuition scholarship, and costs of administration 11 of the fund. 12 * Sec. 5. AS 14.40.809 is amended to read: 13 Sec. 14.40.809. Powers and duties of the University of Alaska. (a) The 14 Board of Regents of the University of Alaska may contract with a purchaser for the 15 advance payment of tuition and other qualified higher education expenses by the 16 purchaser for a beneficiary of any age to attend a branch of the university or other 17 eligible educational institution to which the beneficiary is admitted. A purchaser and 18 a beneficiary may be the same person. 19 (b) The board shall 20 (1) make appropriate arrangements as necessary to fulfill the board's 21 obligations under an advance tuition payment contract; 22 (2) establish and adopt a formal plan for administration of the advance 23 college tuition payment program and prepaid tuition scholarship program; the terms 24 and conditions of the plan shall be considered a part of an advance college tuition 25 payment contract; 26 (3) establish investment objectives, criteria, and asset allocation 27 guidelines for the fund based on prudent institutional investor guidelines and actuarial 28 analysis of the earnings requirements for the advance college tuition payment plan; 29 and 30 (4) enter into [A] reciprocal agreements [AGREEMENT] with Sheldon 31 Jackson College, [AND] Alaska Pacific University, and other eligible educational
01 institutions or state tuition programs that the board determines to be beneficial 02 to the advance college tuition payment program [; AND 03 (5) MAKE THE OBLIGATION UNDER AN ADVANCE COLLEGE 04 TUITION PAYMENT PROGRAM A GENERAL OBLIGATION OF THE 05 UNIVERSITY]. 06 * Sec. 6. AS 14.40.811(a) is amended to read: 07 (a) An advance college tuition payment contract must set out or include by 08 reference to the plan 09 (1) [IF AN INSTALLMENT PURCHASE PROGRAM IS 10 ESTABLISHED BY THE BOARD, THE AMOUNT OF PAYMENTS REQUIRED 11 FROM THE PURCHASER, THE TERMS AND CONDITIONS FOR MAKING THE 12 PAYMENTS, AND PROVISIONS FOR LATE PAYMENT CHARGES; 13 (2)] the name and date of birth [AGE] of the purchaser and the 14 beneficiary [PRIMARY AND ALTERNATE BENEFICIARIES] under the contract; 15 (2) [(3)] the number of prepaid tuition credits purchased [TO BE 16 PROVIDED TO THE PRIMARY AND ALTERNATE BENEFICIARIES] under the 17 contract; 18 (3) [(4)] the terms and conditions under which the contract may be 19 terminated and refunds made; 20 (4) [(5)] the assumption of a contractual obligation by the board to 21 provide [TUITION CREDITS FOR HIGHER] education to the beneficiary in 22 accordance with the terms of the plan; 23 (5) [(6)] the period of time during which the beneficiary may receive 24 the benefits of the contract; and 25 (6) [(7)] other terms and conditions the board determines to be 26 appropriate or that are required by the United States Internal Revenue Code. 27 * Sec. 7. AS 14.40.817 is amended to read: 28 Sec. 14.40.817. Definitions. In AS 14.40.803 - 14.40.817, 29 (1) "advance college tuition payment contract" or "contract" means 30 a contract entered into by the board and a purchaser to provide for the higher 31 education of a beneficiary;
01 (2) "beneficiary" means a designated beneficiary as defined under 02 26 U.S.C. 529(e)(1) (Internal Revenue Code) [PERSON WHO HAS RIGHTS 03 UNDER AN ADVANCE COLLEGE TUITION PAYMENT CONTRACT AND WHO 04 IS 05 (A) A RESIDENT OR WHO WILL BE A RESIDENT 06 BEFORE RECEIVING BENEFITS UNDER AN ADVANCE COLLEGE 07 TUITION PAYMENT CONTRACT; OR 08 (B) A CHILD OR LEGAL WARD OF A RESIDENT OR OF 09 AN ALUMNUS OF THE UNIVERSITY]; 10 (3) "board" means the Board of Regents of the university; 11 (4) "eligible educational institution" has the meaning given in 12 26 U.S.C. 135(c)(3) (Internal Revenue Code); 13 (5) "fund" means the Alaska advance college tuition payment fund 14 established under AS 14.40.803; 15 (6) [(5)] "plan" means the formal plan for administration of an advance 16 college tuition payment program and prepaid tuition scholarship program adopted by 17 the board under AS 14.40.809(b); 18 (7) [(6)] "purchaser" means the [A] person who is named in the 19 contract and has the rights conferred upon a purchaser [MAKES OR IS 20 OBLIGATED TO MAKE ADVANCE TUITION PAYMENTS] under an advance 21 college tuition payment contract; 22 (8) "qualified higher education expenses" has the meaning given 23 in 26 U.S.C. 529(e)(3) (Internal Revenue Code); 24 (9) [(7)] "university" means the University of Alaska, including a 25 community college affiliated with the university. 26 * Sec. 8. This Act takes effect immediately under AS 01.10.070(c).