Section 164.786 - Dual Credit Scholarship Program(1) For purposes of this section: (a) "Academic term" means the fall or spring academic semester;(b) "Academic year" means July 1 through June 30 of each year;(c) "Approved dual credit course" means a dual credit course developed in accordance with KRS 164.098 and shall include general education courses and career and technical education courses within a career pathway approved by the Kentucky Department of Education that leads to an industry-recognized credential;(d) "Authority" means the Kentucky Higher Education Assistance Authority;(e) "Dual credit" has the same meaning as in KRS 158.007;(f) "Dual credit tuition rate ceiling" means one-third (1/3) of the per credit hour tuition amount charged by the Kentucky Community and Technical College System for in-state students;(g) "Eligible high school student" means a student who:1. Is a Kentucky resident;2. Is enrolled in a Kentucky high school as a senior or junior;3. Has completed a thirty (30) minute college success counseling session; and4. Is enrolled, or accepted for enrollment, in an approved dual credit course at a participating institution;(h) "Participating institution" means a postsecondary institution that:1. Has an agreement with the authority for the administration of the Dual Credit Scholarship Program;2. Charges no more than the dual credit tuition rate ceiling per credit hour, including any additional fees, for any dual credit course it offers to any Kentucky public or nonpublic high school student;3. Does not charge any tuition or fees to an eligible high school student for an approved dual credit course beyond what is paid by the Dual Credit Scholarship Program when the course is not successfully completed; and4. Is a:a. Kentucky Community and Technical College System institution;b. Four (4) year Kentucky public college or university; orc. Four (4) year private college or university that is accredited by the Southern Association of Colleges and Schools and whose main campus is located in Kentucky; and(i) "Successfully completed" means a student receiving both secondary and postsecondary credit upon completion of an approved dual credit course.(2) To promote dual credit coursework opportunities at no cost to eligible Kentucky high school students, the General Assembly hereby establishes the Dual Credit Scholarship Program.(3) In consultation with the Education and Labor Cabinet, the authority shall administer the Dual Credit Scholarship Program and shall promulgate administrative regulations in accordance with KRS Chapter 13A as may be needed for the administration of the program.(4)(a) Each high school shall apply to the authority for dual credit scholarship funds for each eligible high school student.(b) The authority may award a dual credit scholarship to an eligible high school student for an academic term to the extent funds are available for that purpose, except that a scholarship shall be awarded to an eligible high school senior prior to awarding an eligible high school junior.(c) An eligible high school student may receive a dual credit scholarship for a maximum of two (2) successfully completed dual credit courses.(d) The dual credit scholarship award amount shall be equal to the amount charged by a participating institution, not to exceed the dual credit tuition rate ceiling for each dual credit hour, except the scholarship amount shall be reduced by fifty percent (50%) if the dual credit course is not successfully completed by the student.(e) Dual credit scholarship funds shall not be used for remedial or developmental coursework.(5) Each participating institution shall submit information each academic term to the authority required for the administration of the scholarship as determined by the authority.(6) Beginning August 1, 2017, and each year thereafter, the authority shall provide a report to the secretary of the Education and Labor Cabinet, the president of the Council on Postsecondary Education, and the commissioner of the Kentucky Department of Education to include:(a) The number of students, by local school district and in total, served by the Dual Credit Scholarship Program; and(b) The number of dual credits earned by students by high school and in total.(7) By May 31, 2019, and each year thereafter, the Kentucky Center for Education and Workforce Statistics, in collaboration with the authority, shall publish data on the Dual Credit Scholarship Program's academic and workforce outcomes. The center shall annually provide a report on the data to the Interim Joint Committee on Education.(8)(a) The Dual Credit Scholarship Program trust fund is hereby created as a trust fund in the State Treasury to be administered by the Kentucky Higher Education Assistance Authority for the purpose of providing scholarships described in this section.(b) The trust fund shall consist of state general fund appropriations, gifts and grants from public and private sources, and federal funds. All moneys included in the fund shall be appropriated for the purposes set forth in this section.(c) Any unalloted or unencumbered balances in the trust fund shall be invested as provided in KRS 42.500(9). Income earned from the investments shall be credited to the trust fund.(d) Notwithstanding KRS 45.229, any fund balance at the close of the fiscal year shall not lapse but shall be carried forward to the next fiscal year and continuously appropriated only for the purposes specified in this section.Amended by 2022 Ky. Acts ch. 236,§ 85, eff. 7/1/2022.Added by 2017 Ky. Acts ch. 165,§ 1, eff. 4/10/2017.