FORTY-EIGHTH LEGISLATURE

FIRST SESSION

March 13, 2007

HOUSE FLOOR AMENDMENT number ___1__ to SENATE BILL 573, as amended

Amendment sponsored by Representative

    1. Strike all senate education committee amendments.

    2. Strike all house education committee amendments.

    3. On page 5, line 20, after "appropriations", insert a semicolon.

    4. On page 5, strike lines 21 through 25 and strike line 1 on page 6 and insert in lieu thereof "donations to the fund; and income from investment of the fund except as provided in Subsection C of this section.".

    5. On page 6, lines 4 and 5, strike "college affordability endowment".

    6. On page 6, line 6, after "specified", insert "distributions,".

    7. On page 6, lines 15 through 21, remove the brackets and line-through.

    8. On page 6, line 15, after "Until", insert "fifty percent of the annual income from investment of the college affordability endowment fund is equal to or exceeds two million dollars ($2,000,000), an annual distribution of two million dollars ($2,000,000) shall be made from the college affordability endowment fund to the college affordability scholarship fund. Thereafter, until".

    9. On page 6, line 19, after "fund" strike the remainder of the line, strike line 20 and strike line 21 up to the quotation marks and insert in lieu thereof a period and "After the corpus of the endowment fund is two hundred fifty million dollars ($250,000,000), all of the income from investment of the fund shall be distributed to the college affordability scholarship fund.".

                                    _______________________________

Adopted ___________________ Not Adopted ________________________

          (Chief Clerk)                (Chief Clerk)

                  Date _________________