FORTY-THIRD LEGISLATURE
                             FIRST SESSION
  
  
                                                       March 8, 1997
  
  
  HOUSE FLOOR AMENDMENT number ___1___ to HOUSE BILL 563, as amended
  
  Amendment sponsored by Representative Danice Picraux
  
  
    1.  On page 2, line 10, strike the third comma and insert in lieu
  thereof "or".
  
    2.  On page 2, lines 11 and 12, strike ", an institution licensed
  by the commission".
  
    3.  On page 4, line 1, after "OFFICE" insert "--POWERS AND
  DUTIES".
  
    4.  On page 5, between lines 3 and 4, insert the following new
  subsection:
  
        "E.  The board is authorized to adopt and promulgate rules and
  regulations as necessary to carry out the provisions of the Education
  Trust Act, protect the financial integrity of the fund, preserve the
  program's benefits and assure the appropriate use of the tax benefits. 
  The board shall also determine and adopt by regulation the cost of
  attendance at institutions of higher education, provided that the cost
  of attendance shall include the same components and allowances as are
  used to determine cost of attendance for the federal student financial
  assistance programs.".
  
    5.  On page 6, line 23, after "investor" strike the remainder of
  the line, strike all of line 24 and on line 25, strike "investor, ".
  
    6.  On page 10, line 25, after "income" strike the comma.
  
    7.  On page 11, line 20, after the period insert:
  
  
  
  "The amount of payments made on behalf of any one beneficiary that may
  be deducted shall not exceed in the aggregate the cost of attendance at
  the applicable institution of higher education, as determined by the
  education trust board.".
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
                                        ___________________________
                                        Danice Picraux
  
  
  
  Adopted ___________________   Not Adopted ___________________________
           (Chief Clerk)                       (Chief Clerk)
  
  
                  Date ________________