173.1103. Board to administer program, duties of the board--fund created, use of moneys.

MISSOURI STATUTES AND CODES

173.1103. Board to administer program, duties of the board--fund created, use of moneys.

Board to administer program, duties of the board--fund created, use ofmoneys.

173.1103. 1. The coordinating board shall be the administrativeagency for the implementation of the program established by sections173.1101 to 173.1107. The coordinating board shall promulgate reasonablerules and regulations for the exercise of its functions and theeffectuation of the purposes of sections 173.1101 to 173.1107. It shallprescribe the form and the time and method of filing applications andsupervise the processing thereof. The coordinating board shall determinethe criteria for eligibility of applicants and shall evaluate eachapplicant's expected family contribution. It shall select qualifiedrecipients to receive financial assistance, make such awards of financialassistance to qualified recipients, and determine the manner and method ofpayment to the recipient.

2. The coordinating board shall determine eligibility for renewedassistance on the basis of annual applications and annual evaluations ofexpected family contribution. In awarding renewal grants, the coordinatingboard may increase or decrease the amount of financial assistance to anapplicant if such action is warranted by a change in the financialcondition of the applicant, the applicant's spouse or parents, or theavailability of funds for that year. As a condition to consideration forinitial or renewed assistance, the coordinating board may require theapplicant, the applicant's spouse and parents to execute forms of consentauthorizing the director of revenue of Missouri to compare financialinformation submitted by the applicant with the Missouri individual incometax returns of the applicant, the applicant's spouse and parents for thetaxable year immediately preceding the year for which application is made,and to report any discrepancies to the coordinating board.

3. There is hereby created in the state treasury the "Access MissouriFinancial Assistance Fund". The state treasurer shall be custodian of thefund and may approve disbursements from the fund in accordance withsections 30.170 and 30.180, RSMo. Upon appropriation, money in the fundshall be used solely to provide financial assistance to qualifiedapplicants as provided by sections 173.1101 to 173.1107. Notwithstandingthe provisions of section 33.080, RSMo, to the contrary, any moneysremaining in the fund at the end of the biennium shall not revert to thecredit of the general revenue fund. The state treasurer shall investmoneys in the fund in the same manner as other funds are invested. Anyinterest and moneys earned on such investments shall be credited to thefund.