Illinois prepaid tuition contract definition

Illinois prepaid tuition contract or "contract" means a
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Illinois prepaid tuition contract or "contract" means a contract entered into between the State and a Purchaser under Section 45 to provide for the higher education of a qualified beneficiary.
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Illinois prepaid tuition contract or "contract" means a contract entered into between the State and a Purchaser under Section 45 to provide for the higher education of a qualified beneficiary. "Illinois prepaid tuition program" or "program" means the program created in Section 15. "Purchaser" means a person who makes or has contracted to make payments under an Illinois prepaid tuition contract. "Public institution of higher education" means an Illinois public university or Illinois community college. "Nonpublic institution of higher education" means any eligible institution, other than a public institution of higher education. "Qualified beneficiary" means (i) anyone who has been a resident of this State for at least 12 months prior to the date of the contract, or (ii) a nonresident, so long as the purchaser has been a resident of the State for at least 12 months prior to the date of the contract, or (iii) any person less than one year of age whose parent or legal guardian has been a resident of this State for at least 12 months prior to the date of the contract. "Tuition" means the quarter or semester charges imposed on a qualified beneficiary to attend an eligible institution. "Mandatory Fees" means those quarter or semester fees imposed upon all students enrolled at an eligible institution. "Registration Fees" means the charges derived by combining tuition and mandatory fees. "Contract Unit" means 15 credit hours of instruction at an eligible institution. "Panel" means the investment advisory panel created under Section 20. "Commission" means the Illinois Student Assistance Commission. (Source: P.A. 99-842, eff. 8-19-16.)
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Examples of Illinois prepaid tuition contract in a sentence

  • Any person that has contracted to make payments under an Illinois prepaid tuition contract in accordance with State and federal laws.

  • You may deduct the federally taxed distributions that you spent for qualified expenses in accordance with the provisions of your Illinois prepaid tuition contract or the College Savings Pool legislation.contributions you made on or after January 1, 2002, to the “Bright Start” College Savings Pool.

  • Through the Community College Plan, the Illinois prepaid tuition contract shall provide prepaid registration fees, which include full tuition costs as well as mandatory fees, for a specified number of undergraduate credit hours, not to exceed the maximum number of credit hours required for the conference of an associate degree.

  • Through the Public University Plan, the Illinois prepaid tuition contract shall provide prepaid registration fees, which include full tuition costs as well as mandatory fees, for a specified number of undergraduate credit hours, not to exceed the maximum number of credit hours required for the conference of a baccalaureate degree.

  • In the case of an Illinois prepaid tuition contract, the contribution is the amount paid by the taxpayer for the contract under Section 45 of the Illinois Prepaid Tuition Act [110 ILCS 979/45].

  • Any qualified beneficiary who has been accepted by and is enrolled or will within 5 years enroll at an eligible institution shall be entitled to exercise the complete benefits specified in the Illinois prepaid tuition contract.

Related to Illinois prepaid tuition contract

  • Privatization contract or “contract” means an agreement or

  • Originating LEA An LEA who originally executes the DPA in its entirety with the Provider. Provider: For purposes of the DPA, the term “Provider” means provider of digital educational software or services, including cloud-based services, for the digital storage, management, and retrieval of Student Data. Within the DPA the term “Provider” includes the term “Third Party” and the term “Operator” as used in applicable state statutes. Student Generated Content: The term “student-generated content” means materials or content created by a student in the services including, but not limited to, essays, research reports, portfolios, creative writing, music or other audio files, photographs, videos, and account information that enables ongoing ownership of student content.

  • Construction Contract or “contract” means a written agreement between a contractor and a public agency for the construction, alteration, demolition, or repair of a facility, other than a contract having a dollar value of less than $30,000.00 or a contract that provides for 3 or fewer payments.

  • Finance Leases means any finance leases, to the extent the arrangement is or would have been treated as a finance or a capital lease in accordance with the Accounting Principles applicable on the First Issue Date (a lease which in the accounts of the Group is treated as an asset and a corresponding liability), and for the avoidance of doubt, any leases treated as operating leases under the Accounting Principles as applicable on the First Issue Date shall not, regardless of any subsequent changes or amendments of the Accounting Principles, be considered as a finance lease.

  • Concession Contract means a contract for pecuniary interest concluded in writing between one or more economic operators and one or more contracting authorities within the meaning of Articles 168 and 172, in order to entrust the execution of works or the provision and management of services to an economic operator (the ‘concession’). The remuneration shall consist either solely in the right to exploit the works or services or in that right together with payment. The award of a concession contract shall involve the transfer to the concessionaire of an operating risk in exploiting those works or services encompassing demand risk or supply risk, or both. The concessionaire shall be deemed to assume an operating risk where, under normal operating conditions, there is no guarantee of recouping the investments made or the costs incurred in operating the works or the services at stake;

  • sub-contract means the primary contractor’s assigning, leasing, making out work to, or employing, another person to support such primary contractor in the execution of part of a project in terms of the contract;

  • Service Contract means, with respect to a Financed Vehicle, the agreement, if any, financed under the related Receivable that provides for the repair of such Financed Vehicle.