Michigan Laws 390.1346 – Report
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Michigan Laws 390.1346
- Academic year: means the period from August 1 of a calendar year to July 31 of the next calendar year. See Michigan Laws 390.1342
- Authority: means the Michigan higher education assistance authority created by 1960 PA 77, MCL 390. See Michigan Laws 390.1342
- Eligible institution: means a degree or certificate granting public or independent nonprofit college or university, junior college, or community college in this state. See Michigan Laws 390.1342
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Full-time student: means a student enrolled in at least 12 credit hours in an academic semester or its equivalent number of credit hours in a term or quarter, as determined by the authority. See Michigan Laws 390.1342
- state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories belonging to the United States; and the words "United States" shall be construed to include the district and territories. See Michigan Laws 8.3o
(1) By December 1 of each year, the authority shall annually submit a report to the state budget director, the house and senate appropriations subcommittees on higher education and community colleges, and the house and senate fiscal agencies for the preceding fiscal year on the children of veterans tuition grant program. The report shall include, but is not limited to, the total number of tuition grants paid by the authority in the preceding fiscal year, the total dollar amount of those tuition grants, and the number of students receiving grants and the total amount of those grants at each eligible institution.
(2) In any academic year, if the authority estimates that insufficient money will be available in that academic year from the account established in section 5 to pay a maximum grant under section 4(2) for a full-time student of $2,800.00, the authority shall immediately report to the house and senate appropriations subcommittees on higher education and community colleges, the house and senate fiscal agencies, and the state budget director, regarding the estimated amount of additional money necessary to fund scholarships for all eligible students in that academic year at the maximum grant amounts under section 4(2).