HB 1257-1_ Filed 01/25/2006, 11:16 Bell


Text Box


    PREVAILED      Roll Call No. _______
    FAILED        Ayes _______
    WITHDRAWN        Noes _______
    RULED OUT OF ORDER


[

HOUSE MOTION ____

]

MR. SPEAKER:

    I move that House Bill 1257 be amended to read as follows:

SOURCE: Page 1, line 3; (06)MO125701.1. -->     Page 1, line 3, strike "(c), (e), and (f)," and insert " (d), and (e),".
    Page 1, delete lines 10 through 17, begin a new line block indented and insert:
        "(2) If the postsecondary proprietary educational institution's annual gross tuition charges assessed for the previous year are not more than five thousand dollars ($5,000), the institution shall secure a surety bond in the amount of one hundred percent (100%) of that institution's annual gross tuition charges assessed for the previous year.
        (3) If the postsecondary proprietary educational institution's annual gross tuition charges assessed for the previous year are more than five thousand dollars ($5,000) but less than fifty thousand dollars ($50,000), the institution shall secure a surety bond in the amount of five thousand dollars ($5,000).
        (4) If the postsecondary proprietary educational institution's annual gross tuition charges assessed for the previous year are more than fifty thousand dollars ($50,000) but less than five hundred thousand dollars ($500,000), the institution shall secure a surety bond in the amount of ten percent (10%) of that institution's annual gross tuition charges assessed for the previous year.".
    Page 2, delete lines 1 through 11.
    Page 2, line 12, strike "(5)" and insert " (2)".
    Page 2, line 12, after "If" insert " at any time".
    Page 2, line 12, after "institution's" insert " projected".
    Page 2, line 13, strike "assessed for the previous year".
    Page 2, line 14, strike "five hundred" and insert " two hundred fifty".
    Page 2, line 14, strike "($500,000)," and insert " ($250,000),".
    Page 2, delete lines 17 through 35, begin a new paragraph and insert:
    "(b) When a postsecondary proprietary educational institution is required to contribute to the fund and the fund has a balance on the date that the surety bond is due of at least:
        (1) one hundred thousand dollars ($100,000), the commission shall reduce the penal sum of the surety bond described in subsection (a) by twenty percent (20%);
        (2) two hundred thousand dollars ($200,000), the commission shall reduce the penal sum of the surety bond described in subsection (a) by forty percent (40%);
        (3) three hundred thousand dollars ($300,000), the commission shall reduce the penal sum of the surety bond described in subsection (a) by sixty percent (60%);
        (4) four hundred thousand dollars ($400,000), the commission shall reduce the penal sum of the surety bond described in subsection (a) by eighty percent (80%); or
        (5) five hundred thousand dollars ($500,000), the commission shall reduce the penal sum of the surety bond described in subsection (a) by one hundred percent (100%).".
    Page 2, line 36, strike "(c)" and insert " (b)".
    Page 2, line 38, strike "(f);" and insert " (e);".
    Page 3, line 3, strike "(d)" and insert " (c)".
    Page 3, line 6, strike "(e)" and insert " (d)".
    Page 3, line 7, strike "(f)," and insert " (e),".
    Page 3, line 9, delete ":".
    Page 3, line 10, strike "(1)".
    Page 3, run in lines 9 through 10.
    Page 3, line 12, strike "(d); and" and insert " (c).".
    Page 3, strike lines 13 through 15.
    Page 3, line 16, strike "(f)" and insert " (e)".
    Page 3, line 20, strike "(c)" and insert " (b)".
    Page 3, line 20, strike "(e)" and insert " (d)".
    Page 3, line 34, reset in roman "money in the fund.".
    Page 3, line 34, delete "the sixty dollar ($60) quarterly fund".
    Page 3, delete lines 35 through 40.
    Page 4, line 4, delete "five hundred" and insert " fifty".
    Page 4, line 5, delete "($500,000)," and insert " ($50,000),".
    Page 4, line 6, delete "five hundred" and insert " fifty".
    Page 4, line 7, delete ($500,000)." and insert " ($50,000).".
    Page 4, line 10, delete "five hundred" and insert " fifty".
    Page 4, line 10, delete "($500,000);" and insert " ($50,000);".
    Page 4, line 15, delete "five hundred" and insert " fifty".
    Page 4, line 15, delete "($500,000)," and insert " ($50,000),".
    Page 4, delete lines 24 through 29.
    Page 6, line 7, after "closed" insert " involuntarily".
    (Reference is to HB 1257 as printed January 20, 2006.)

________________________________________

Representative Bell


MO125701/DI 71     2006