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§ 31004. Distribution of Award.

5 CA ADC § 31004Barclays Official California Code of Regulations

Barclays California Code of Regulations
Title 5. Education
Division 4.5. Scholarshare Investment Board
Chapter 2. Governor's Scholarship Programs
5 CCR § 31004
§ 31004. Distribution of Award.
Currentness
(a) To request distribution of funds, an award recipient shall submit a written request that provides the following information:
(1) the award recipient's name as it appears on the annual account statement;
(2) the award recipient's account number;
(3) the award recipient's Social Security number or taxpayer identification number;
(4) the award recipient's mailing address;
(5) the name and address of the eligible educational institution;
(6) the academic year for which the distribution is intended;
(7) the amount of qualified higher education expenses to be paid out by the distribution;
(b) The Scholarshare Investment Board or its designee may require additional documentation prior to the distribution of funds.
(c) A separate written request must be submitted for each distribution.
(d) Distributions shall be made only to eligible educational institutions.
(e) Award recipients shall provide a certification that the distribution shall be used for qualified higher education expenses, that no other request has been submitted previously for payment of the referenced qualified higher education expenses and that any portion of the distribution that is refunded to the award recipient and not used for qualified higher education expenses shall be returned to the Scholarshare Investment Board's designee in the tax year in which the refund was received by the award recipient.
(f) Written requests for distributions shall be processed by the Scholarshare Investment Board's designee within thirty (30) days of receipt of the request or within thirty (30) days of receipt of additional documentation requested by the Scholarshare Investment Board or its designee.

Credits

Note: Authority cited: Sections 69981(d), 69996(d) and 69999, Education Code. Reference: Section 69996(a), Education Code; and Sections 529 and 117(b), Internal Revenue Code.
History
1. New section filed 12-1-2000 as an emergency; operative 12-1-2000 (Register 2000, No. 48). A Certificate of Compliance must be transmitted to OAL by 11-30-2001 pursuant to Education Code section 69999 or emergency language will be repealed by operation of law on the following day.
2. Certificate of Compliance as to 12-1-2000 order, including amendment of section, transmitted to OAL 11-30-2001 and filed 12-21-2001 (Register 2001, No. 51).
3. Amendment of subsection (e) filed 12-27-2001 as an emergency; operative 1-1-2002 (Register 2001, No. 52). Pursuant to Education Code section 69999, a Certificate of Compliance must be transmitted to OAL by 1-1-2003 or emergency language will be repealed by operation of law on the following day.
4. Editorial correction of History 3 (Register 2002, No. 21).
5. Editorial correction of subsection (e) (Register 2003, No. 5).
6. Certificate of Compliance as to 12-27-2001 order transmitted to OAL 12-18-2002 and filed 1-29-2003 (Register 2003, No. 5).
This database is current through 4/26/24 Register 2024, No. 17.
Cal. Admin. Code tit. 5, § 31004, 5 CA ADC § 31004
End of Document