Sponsor: Senator Lou Correa (D)
Summary: Requests each governing body of an accredited private postsecondary education institution to develop a model contract governing the disbursement of financial aid, scholarships, campus-based aid or school refund onto a debit card, prepaid card or other preloaded card issued by a financial institution, and make a model contract available on its Internet Web site.
Status: Introduced; referred to Committee on Rules 1/9/2014. Referred to Senate Committee on Education 1/23/2014. Referred to Senate Banking and Financial Institutions Committee 1/23/2014.
Outlook: The sponsor serves as a member of the Senate Committee on Education, chaired by Senator Carol Liu (D). The Senate Committee on Rules also referred this measure to the Senate Banking and Financial Institutions Committee where the sponsor serves as chair. Committees are not required to consider every measure referred to them; however, the likelihood of this measure moving quickly through both committees is high. By rule, neither committee can act upon this measure until February 8.
The sponsor is a member of the majority party and has not garnered the cosponsorship of any other member of the chamber. The Democratic Party controls both chambers of the Legislature as well as the office of the Governor.
Effective Date: Upon approval of the Governor
*Information provided by www.stateside.com.