EXPLANATION – Matter in bolded italics is new; matter between brackets [omitted material] is material to be omitted. Green numbers along left margin indicate location on the printed bill (e.g., 5-15 indicates page 5, line 15).

1-1 Section 1. Chapter 396 of NRS is hereby amended by adding thereto

1-2 the provisions set forth as sections 2 to 14, inclusive, of this act.

1-3 Sec. 2. As used in sections 2 to 14, inclusive, of this act, unless the

1-4 context otherwise requires, the words and terms defined in sections 3 to

1-5 7, inclusive, of this act have the meanings ascribed to them in those

1-6 sections.

1-7 Sec. 3. "Academic scholarship" means a scholarship that is awarded

1-8 from the trust fund to a student who:

1-9 1. Completed in high school the core curriculum prescribed by the

1-10 board for an academic scholarship; and

1-11 2. Is enrolled in a community college or university.

1-12 Sec. 4. "Board" means the millennium scholarship board created

1-13 pursuant to section 9 of this act.

1-14 Sec. 5. "Millennium scholarship" means an academic or vocational

1-15 scholarship that is awarded from the trust fund to a student.

1-16 Sec. 6. "Trust fund" means the millennium scholarship trust fund

1-17 created pursuant to section 8 of this act.

2-1 Sec. 7. "Vocational scholarship" means a scholarship that is

2-2 awarded from the trust fund to a student who:

2-3 1. Completed in high school the core curriculum prescribed by the

2-4 board for a vocational scholarship; and

2-5 2. Is enrolled in a community college.

2-6 Sec. 8. 1. The millennium scholarship trust fund is hereby created

2-7 in the state treasury to be administered by the state treasurer. The state

2-8 treasurer may accept gifts, grants, bequests and donations for deposit in

2-9 the trust fund.

2-10 2. The state treasurer shall deposit in the trust fund:

2-11 (a) Fifty percent of all money received by this state pursuant to any

2-12 settlement entered into by the State of Nevada and a manufacturer of

2-13 tobacco products;

2-14 (b) Fifty percent of all money recovered by the State of Nevada from a

2-15 judgment in a civil action against a manufacturer of tobacco products;

2-16 and

2-17 (c) Any gifts, grants, bequests or donations specifically designated for

2-18 the trust fund by the donor.

2-19 3. The state treasurer, in consultation with the board, shall invest

2-20 money in the trust fund as the money in other state funds is invested.

2-21 4. All interest and income earned on the money in the trust fund

2-22 must, after deducting any applicable charges, be credited to the trust

2-23 fund.

2-24 5. All claims against the trust fund must be paid as other claims

2-25 against the state are paid.

2-26 6. Not more than 2 percent of the amount of money in the trust fund

2-27 that is awarded in millennium scholarships each year may be used to pay

2-28 the costs of administering the trust fund and to pay the per diem

2-29 allowances and travel expenses of the members of the board pursuant to

2-30 section 9 of this act.

2-31 7. Money in the trust fund may be used only for the purposes set

2-32 forth in sections 2 to 14, inclusive, of this act.

2-33 Sec. 9. 1. The millennium scholarship board is hereby created.

2-34 The membership of the board consists of the governor or his designee,

2-35 the state treasurer or his designee and:

2-36 (a) One member appointed by the majority leader of the senate who is

2-37 not a legislator;

2-38 (b) One member appointed by the speaker of the assembly who is not

2-39 a legislator; and

2-40 (c) Three members of the board of regents, appointed by the governor.

2-41 The governor shall appoint members of the board of regents with due

2-42 regard to maintaining equitable representation for the entire state.

3-1 2. Each member of the board serves at the pleasure of his appointing

3-2 authority. A vacancy in the membership of the board must be filled for

3-3 the remainder of the unexpired term in the same manner as the original

3-4 appointment.

3-5 3. The members of the board serve without compensation, except

3-6 that for each day or portion of a day during which a member of the

3-7 board attends a meeting of the board or is otherwise engaged in the

3-8 business of the board, he is entitled to receive the per diem allowance and

3-9 travel expenses provided for state officers and employees generally.

3-10 4. The board may request assistance from the board of regents, the

3-11 office of the chancellor and any branch or facility of the system as is

3-12 necessary for the board to carry out its duties pursuant to sections 2 to

3-13 14, inclusive, of this act.

3-14 Sec. 10. 1. The board shall adopt regulations that set forth:

3-15 (a) The core curriculum that a student must complete in high school

3-16 to be eligible for an academic scholarship and the core curriculum that a

3-17 student must complete in high school to be eligible for a vocational

3-18 scholarship. The regulations must set forth the conditions under which

3-19 required completion of the core curriculum may be waived during the

3-20 first 2 academic years after adoption of the regulations. The core

3-21 curriculum must be established in consultation with the board of regents.

3-22 (b) The requirements for a student who:

3-23 (1) Received a vocational scholarship; and

3-24 (2) Completed a course of study recognized by the board at a

3-25 community college,

3-26 to be eligible for an academic scholarship upon transfer to a university.

3-27 A student who received an academic scholarship and enrolled in a

3-28 community college may continue to receive an academic scholarship

3-29 upon transfer to a university if he otherwise satisfies the requirements for

3-30 a millennium scholarship.

3-31 (c) For students who did not graduate from a public or private high

3-32 school in this state, the minimum score on a standardized test that such

3-33 students must receive to be eligible for millennium scholarships.

3-34 (d) The minimum number of credits that a student must maintain in

3-35 each academic year to maintain eligibility for a millennium scholarship.

3-36 The regulations must require a student to maintain at least 6 but not

3-37 more than 12 semester credit hours in each of the fall and spring

3-38 semesters.

3-39 (e) The criteria for determining whether a student who receives a

3-40 millennium scholarship is making satisfactory academic progress toward

3-41 obtaining a degree or certificate. If a student participates as a member of

3-42 a varsity athletic team, he must also satisfy the standards established by

3-43 the board of regents pursuant to NRS 396.585. The regulations must

4-1 establish the maximum period that a student may take to obtain his

4-2 degree or certificate and continue to be eligible for a millennium

4-3 scholarship. The period must not exceed 8 years after a student obtained

4-4 a high school diploma or a certificate of educational equivalence for

4-5 achieving a passing score on the tests of general educational

4-6 development.

4-7 (f) The amount by which the distribution of a millennium scholarship

4-8 to a student must be set off against other financial aid received by the

4-9 student.

4-10 (g) The terms for repayment of a millennium scholarship for any

4-11 semester in which the student fails to maintain the minimum number of

4-12 semester credits required by the board, including, without limitation, that

4-13 the board may deny future installments of the millennium scholarship to

4-14 any student who fails to make adequate provision for repayment.

4-15 (h) The expenditures for which money from a millennium scholarship

4-16 may be used and any related limitations on the use of the money.

4-17 2. The board shall determine whether:

4-18 (a) Millennium scholarships may be awarded for summer semesters.

4-19 If the board authorizes scholarships for summer semesters, it shall apply

4-20 the same criteria for eligibility as is set forth in the regulations adopted

4-21 pursuant to subsection 1.

4-22 (b) Honors division classes must be given additional weight in

4-23 calculating a student’s grade-point average to determine eligibility for a

4-24 millennium scholarship. If the board determines that additional weight

4-25 must be given, it shall include in the regulations adopted pursuant to

4-26 subsection 1 the formula for calculating a student’s grade-point average

4-27 if the student completed honors division classes in high school.

4-28 Sec. 11. 1. Within the limits of money available in the trust fund,

4-29 the board shall award millennium scholarships to all eligible students

4-30 who apply.

4-31 2. A student may apply to the board for a millennium scholarship. In

4-32 addition to satisfying the criteria for eligibility set forth by the board

4-33 pursuant to section 10 of this act, to be eligible for a millennium

4-34 scholarship a student must:

4-35 (a) Except as otherwise provided in paragraph (b), graduate from a

4-36 public or private high school in this state after May 1, 2000, with at least

4-37 a 3.0 grade-point average overall and in the core curriculum, on a 4.0

4-38 grading scale, and otherwise meet the requirements for graduation from

4-39 high school in this state, including, without limitation, passing the

4-40 proficiency examination administered in grade 11 pursuant to NRS

4-41 389.015 or thereafter, if applicable;

4-42 (b) If a student has not completed the credits required for graduation

4-43 from high school in this state, the student must:

5-1 (1) Receive at least the minimum score on a standardized test, as set

5-2 forth by the regulations of the board; or

5-3 (2) Complete at least 30 semester credits at a university or

5-4 community college with at least a 3.0 grade-point average overall, on a

5-5 4.0 grading scale;

5-6 (c) Reside in this state for at least 2 years before obtaining a high

5-7 school diploma or a certificate of educational equivalence for achieving

5-8 a passing score on the tests of general educational development; and

5-9 (d) Be enrolled in a community college or university of the system for

5-10 the minimum number of semester credits established by the board.

5-11 3. If a dispute exists concerning a student’s eligibility, the board

5-12 shall determine whether the student is eligible for the millennium

5-13 scholarship. The board’s determination is final and not subject to

5-14 judicial review.

5-15 4. Within the limits of money available in the trust fund, the board

5-16 shall award each eligible student who is enrolled in a:

5-17 (a) Community college, a scholarship of $40 per credit for which the

5-18 student is enrolled.

5-19 (b) University, a scholarship of $80 per credit for which the student is

5-20 enrolled.

5-21 The credits for which such a scholarship may be awarded are any credits

5-22 which will satisfy the requirements toward obtaining a degree or

5-23 certificate. No student may be awarded a scholarship for more than 125

5-24 total credits or for a total amount in excess of $10,000.

5-25 5. The board shall certify a list of eligible students to the state

5-26 treasurer. The state treasurer shall disburse a millennium scholarship for

5-27 each semester on behalf of an eligible student directly to the community

5-28 college or university in which the student is enrolled, upon certification

5-29 from the community college or university of:

5-30 (a) The number of credits for which the student is enrolled, which

5-31 must meet or exceed the minimum number of credits required for

5-32 eligibility; and

5-33 (b) That the student is in good standing and making satisfactory

5-34 academic progress toward a degree or certificate.

5-35 The scholarship must be administered by the community college or

5-36 university as other similar scholarships are administered and may be

5-37 used for any expenditure authorized by the board.

5-38 Sec. 12. The board of regents shall develop a plan to direct a

5-39 significant portion of other available financial aid to culturally

5-40 disadvantaged or at-risk students, and students who graduated from high

5-41 school before May 1, 2000, who wish to attend college and have the

5-42 potential to be successful, but who do not otherwise meet the eligibility

5-43 requirements for millennium scholarships.

6-1 Sec. 13. 1. On or before February 1 of each odd-numbered year,

6-2 the board shall submit a written report to the director of the legislative

6-3 counsel bureau for transmittal to the legislature.

6-4 2. The report must contain the following information for the system

6-5 and each university and community college within the system:

6-6 (a) The total number of students that received millennium

6-7 scholarships;

6-8 (b) The number of students that received millennium scholarships in

6-9 the current fiscal year;

6-10 (c) The median grade-point average of recipients upon entering

6-11 college;

6-12 (d) The median grade-point average of recipients in college;

6-13 (e) The number of recipients who have graduated from college;

6-14 (f) The number of recipients who did not graduate from college and

6-15 who are not currently enrolled in college; and

6-16 (g) An evaluation of the effect of the millennium scholarship program

6-17 on the rates of college participation, the rates of the award of degrees or

6-18 certificates and the success of students in college.

6-19 3. The state treasurer, in conjunction with the board, shall include a

6-20 report on the financial status of the trust fund, including, without

6-21 limitation, the most recent actuarial studies conducted pursuant to

6-22 subsection 4.

6-23 4. The board shall contract with a certified actuary to perform an

6-24 annual actuarial study. The money in the trust fund must be used to pay

6-25 the costs of contracting with the actuary. The state treasurer shall make

6-26 available for inspection all records necessary to perform the actuarial

6-27 study.

6-28 Sec. 14. 1. The board of trustees of each school district and each

6-29 public or private high school shall cooperate with the millennium

6-30 scholarship board by providing reports of the projected numbers of

6-31 students eligible for millennium scholarships and shall develop a

6-32 program to certify whether graduating seniors meet applicable eligibility

6-33 requirements.

6-34 2. The board shall work with the board of trustees of each school

6-35 district, the department of education, and each participating community

6-36 college or university, to create appropriate programs to inform students

6-37 of the millennium scholarship program and the requirements for

6-38 eligibility.

6-39 Sec. 15. On or before September 15, 1999, the governor, the majority

6-40 leader of the senate and the speaker of the assembly shall make

6-41 appointments to the millennium scholarship board in accordance with

6-42 section 9 of this act.

7-1 Sec. 16. For the first year of operation of the millennium scholarship

7-2 board, not more than $100,000 may be used from the millennium

7-3 scholarship trust fund to pay the costs of administering the trust fund and to

7-4 pay the per diem allowances and travel expenses of the members of the

7-5 board.

7-6 Sec. 17. 1. This section and section 15 of this act become effective

7-7 on July 1, 1999.

7-8 2. Section 9 of this act becomes effective on July 1, 1999, for the

7-9 purpose of appointing members to the millennium scholarship board and on

7-10 October 1, 1999, for all other purposes.

7-11 3. Sections 1 to 8, inclusive, 10 to 14, inclusive, and 16 of this act

7-12 become effective on October 1, 1999.