House Sponsors: COWLISHAW. Senate Sponsors: WATSON Short description: PREPD TUITION-GRANT-RETURN AMT Synopsis of Bill as introduced: Amends the Illinois Prepaid Tuition Act. Removes a provision that provides that if a qualified beneficiary is awarded a grant or scholarship, then the amount of money returned to the purchaser shall equal the original purchase price plus 2% interest compounded annually if that amount is less than the current cost of tuition and mandatory fees at the MAP-eligible institution where the qualified beneficiary is enrolled. Provides that if a qualified beneficiary is awarded a grant or scholarship while enrolled at either a MAP-eligible nonpublic institution of higher education or an eligible public or private out-of-state higher education institution, then the amount of money returned to the purchaser shall not exceed the current average mean-weighted credit hour value of the registration fees purchased under the contract. Makes other changes. Effective immediately. Last action on Bill: PUBLIC ACT.............................. 92-0165 Last action date: JUL-26-2001 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status