A BILL TO BE ENTITLED
AN ACT to establish the jeanne hopkins lucas scholarship fund.
The General Assembly of North Carolina enacts:
SECTION 1.  Chapter 116 of the General Statutes is amended by adding a new section to read:
"§ 116‑209.41.  Jeanne Hopkins Lucas Scholarship Fund.
(a)	Fund Established. – The Jeanne Hopkins Lucas Scholarship Fund is established as a special fund. The Fund shall be administered by the State Education Assistance Authority.
(b)	Fund Earnings, Assets, and Balances. – Interest on the Fund shall be credited to the assets of the Fund and shall become part of the Fund. Any balance remaining in the Fund at the end of any fiscal year shall be carried forward in the Fund for the next succeeding fiscal year.
(c)	Fund Purpose. – The interest from the Fund shall be used to provide two need‑based scholarships at each of the State's public historically black colleges and universities. Pursuant to this section, the scholarships shall be awarded on an annual basis to students who intend to pursue degrees in the State's high priority disciplines. The amount of each scholarship shall be two thousand five hundred dollars ($2,500) per academic year.
(d)	Eligibility Requirements for a Scholarship. – To be eligible to receive a scholarship under this section, a student must meet all of the following requirements:
(1)	The student must meet enrollment standards by being admitted, enrolled, and classified as an undergraduate student in a matriculated status at a public historically black college or university.
(2)	The student must intend to pursue a degree in one of the State's high priority disciplines.
(3)	The student must demonstrate outstanding leadership qualities, be involved in the college or university community, and maintain high academic standards.
(4)	The student must be designated as a recipient for the scholarship by the college or university at which the student has matriculated status.
(e)	College or University Recommendations for Scholarship Recipients. – The chancellor or president, as appropriate, and the board of trustees of each public historically black college or university may designate students as recipients of the Jeanne Hopkins Lucas Scholarships under this section.
(f)	Rule‑Making Authority. – The State Education Assistance Authority may adopt rules to administer this Fund.
(g)	Reporting Requirement. – The State Education Assistance Authority shall report no later than June 1, 2008, and annually thereafter to the Joint Legislative Education Oversight Committee regarding the scholarships awarded pursuant to this section."
SECTION 2.  If funds are appropriated by the 2007 General Assembly to a reserve for pending legislation, then of those funds the sum of five hundred thousand dollars ($500,000) for the 2007‑2008 fiscal year shall be allocated to the Jeanne Hopkins Lucas Scholarship Fund established by G.S. 116‑209.41 as enacted by Section 1 of this act.SECTION 3.  This act becomes effective July 1, 2007; however, no scholarship shall be awarded under this act prior to the academic year of 2008‑2009.