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09600SB3737sam001 |
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LRB096 20854 AMC 37860 a |
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| employer.
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| (5) (Blank) Any educational institution (A) which (i) |
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| enrolls a
majority of its students in degree programs and |
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| has maintained an
accredited status with the Commission on |
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| Institutions of Higher Education of
the North Central |
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| Association of Colleges and Schools or (ii) on or after the
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| effective date of this amendatory Act of the 93rd General |
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| Assembly enrolls
students in one or more bachelor-level |
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| programs,
enrolls a majority of its students in degree
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| programs,
and is accredited by a
national accrediting |
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| agency that is recognized by the U.S. Department of
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| Education and (B) which is regulated by the Illinois Board |
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| of Higher
Education under
the Private College Act or the |
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| Academic Degree Act, or which is exempt from
such |
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| regulation under either of the foregoing Acts solely for |
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| the reason that
such educational institution was in |
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| operation on the effective date of either
such Act .
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| (6) Any institution and the franchisees of such |
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| institution which offer
exclusively a course of |
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| instruction in income tax theory or return preparation
at a |
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| total contract price of no more than $400, provided that |
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| the total annual
enrollment of such institution for all |
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| such courses of instruction exceeds 500
students, and |
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| further provided that the total contract price for all
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| instruction offered to a student in any one calendar year |
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| does not exceed $400.
For each calendar year after 1990, |
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09600SB3737sam001 |
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LRB096 20854 AMC 37860 a |
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| the total contract price shall be adjusted,
rounded off to |
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| the nearest dollar, by the same percentage as the increase |
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| or
decrease in the general price level as measured by the |
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| consumer price index for
all urban consumers for the United |
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| States, or its successor index, as defined
and officially |
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| reported by the United States Department of Labor, or its
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| successor agency. The change in the index shall be that as |
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| first published by
the Department of Labor for the calendar |
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| year immediately preceding the year in
which the total |
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| contract price is calculated. |
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| (7) Any educational institution that maintains |
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| accredited status with the Commission on Institutions of |
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| Higher Education of the North Central Association of |
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| Colleges and Schools or other comparable regional |
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| accreditation association. |
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| (8) Any educational institution that maintains |
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| accredited status with a national accrediting agency that |
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| is recognized by the U.S. Department of Education. |
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| (9) Any educational institution that is regulated in |
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| whole or in part by the Illinois Board of Higher Education |
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| or other comparable out-of-State educational agency.
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| (b) An institution exempted under subsection (a) of this |
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| Section must file
with the Superintendent documentation that |
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| demonstrates an annual financial report to demonstrate |
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| continued
compliance by the institution with the requirements |
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| on which the exemption is
based.
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