Accountability for institutions licensed by the Commission for Independent Education

(1) By June 30, 2024, and by April 15 of each year thereafter, the commission shall prepare an annual accountability report for licensed institutions. The report must contain, at a minimum, the graduation rates, including the number of graduates by program, retention rates, and placement rates for all licensed institutions. (2) By March 15, 2024, and by November 30 of each year thereafter, each licensed institution shall provide data to the commission in a format prescribed by the commission. Placement rates shall be determined using a methodology approved by the commission. (3) The commission shall establish a common set of data definitions for institutional reporting purposes. (4) The commission shall impose an administrative fine of not more than $500 when a licensed institution fails to timely submit the required data to the commission pursuant to this section. Administrative fines collected under this subsection shall be deposited into the Student Protection Fund. (5) Notwithstanding s. 1005.32(3), the commission shall have the authority to require licensed institutions to provide institutional, graduate, and student data through reasonable data collection efforts as required or necessitated by statute or rule.