Sec. 1. 20-A MRSA c. 419-E is enacted to read:

CHAPTER 419-E

MAINE EDUCATIONAL ASSESSMENT SCHOLARSHIP FUND

§11681.__Maine Educational Assessment Scholarship Fund

1.__Scholarship fund established; nonlapsing.__The Maine Educational Assessment Scholarship Fund is established as a nonlapsing fund under the jurisdiction and control of the Finance Authority of Maine.__Any unexpended funds appropriated by the Legislature to the Finance Authority of Maine to carry out the purposes of this fund may not lapse, but must be carried forward by the authority for continued use in the fund.

2.__Eligibility.__A student in the 11th grade who performs at the distinguished level on the educational assessment test established under the assessment program created in chapter 222 and a student in the 11th grade who performs at one or more performance levels higher than that student performed in the 8th grade on the educational assessment test is eligible for a $500 tuition grant at a public or private postsecondary educational institution in this State or outside of the State.

3.__Notification; satisfactory academic progress; award.__The commissioner shall use the criteria established in subsection 2 to annually identify eligible students and to annually notify the Finance Authority of Maine of the names of those students who are eligible to receive a tuition grant.__Upon the successful completion of one semester during which eligible students have made satisfactory academic progress as defined by the postsecondary educational institutions in which they are enrolled, the Finance Authority of Maine must award the tuition grants to the postsecondary educational institutions in which the students are enrolled.

SUMMARY

This bill establishes the Maine Educational Assessment Scholarship Fund to provide a $500 tuition grant at a public or private postsecondary educational institution in this State or outside of the State to any student in the 11th grade who performs at the distinguished level on the educational assessment test or any student in the 11th grade who performs at one or more performance levels higher than that student performed in the 8th grade on the educational assessment test. The bill further