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(1) An individual may apply for a promise scholarship in accordance with the rules described in Subsection (8).
(2) An individual is eligible to receive a promise scholarship if the individual:
(a)
(i) has a high school diploma or the equivalent; and
(ii) does not have an associate or higher postsecondary degree;
(b) demonstrates financial need, in accordance with the rules described in Subsection (8);
(c) is a Utah resident;
(d) enrolls in an institution; and
(e) accepts all other grants, tuition or fee waivers, and scholarships offered to the individual to attend the institution in which the individual enrolls.
(3) Subject to legislative appropriations, and in accordance with the rules described in Subsection (8), the board shall annually distribute money for promise scholarships to each institution.
(4)
(a) Except as provided in Subsection (4)(d), an institution shall award a promise scholarship to an eligible individual.
(b) For a promise scholarship recipient, an institution shall:
(i) evaluate the recipient's knowledge, skills, and competencies acquired through formal or informal education outside the traditional postsecondary academic environment; and
(ii) award credit, as applicable, for the recipient's prior learning described in Subsection (4)(b)(i).
(c) An institution shall award a promise scholarship in an amount that is equal to the difference between:
(i) the total cost of tuition and fees for the program in which the recipient is enrolled; and
(ii) the total value of all other grants and scholarships received by the recipient to attend the institution.
(d) If an institution's distribution described in Subsection (3) is insufficient to award a promise scholarship to each eligible individual in the amount described in Subsection (4)(c), the institution:
(i) shall, when possible, use other funding sources, fee waivers, and tuition waivers in accordance with Sections 53B-8-101 and 53B-8-103, to fully fund the amount described in Subsection (4)(c) for each eligible individual; and
(ii) may prioritize promise scholarships based on financial need in accordance with the rules described in Subsection (8).
(e) An institution may use up to 3% of the institution's distribution described in Subsection (3) for administration.
(5) An institution shall continue to award a promise scholarship to a recipient who meets the requirements established by the board in the rules described in Subsection (8) until the earliest of the following:
(a) two years after the recipient initially receives a promise scholarship;
(b) the recipient uses a promise scholarship to attend an institution for four semesters;
(c) the recipient completes the requirements for an associate degree; or
(d) if the recipient attends an institution that does not offer associate degrees, the recipient has 60 earned credit hours.
(6) A recipient may only use a promise scholarship for tuition and fees.
(7) A promise scholarship is transferable between institutions.
(8) In accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, the board shall make rules to establish:
(a) requirements related to whether an individual is eligible for a promise scholarship, including:
(i) a process for an eligible individual to defer a promise scholarship;
(ii) how an individual demonstrates financial need for purposes of receiving a promise scholarship; and
(iii) how to determine whether an individual is a Utah resident;
(b) a process and requirements for an individual to apply for a promise scholarship;
(c) a formula to determine the distributions to each institution described in Subsection (3) that takes into account:
(i) the cost of tuition and fees for programs offered by institutions; and
(ii) the number of eligible individuals who attend each institution;
(d) how an institution may prioritize awarding scholarships based on the financial needs of eligible individuals;
(e) conditions a recipient is required to meet to continue to receive a promise scholarship, including requirements related to academic achievement and enrollment status; and
(f) a requirement that in communicating about promise scholarships to recipients and potential recipients, the board and institutions do not portray the Access Utah Promise Scholarship Program as a program that is guaranteed to be in effect indefinitely.
(9) On or before November 1 each year, the board shall report to the Higher Education Appropriations Subcommittee regarding promise scholarships, including:
(a) the number of scholarships awarded; and
(b) whether the promise scholarship program is effective in helping underserved students access higher education.