House Bill No. 5128, also known as Public Act No. 24-87, is a legislative act that mandates institutions of higher education in the state to disclose their policies on scholarship displacement. Scholarship displacement is defined as the reduction of financial aid offered to a student due to the receipt of a scholarship. This disclosure is required to be included in the initial financial aid package offered to each prospective or current student.

Additionally, by January 1, 2025, each institution must submit a report detailing their policy on scholarship displacement to the joint standing committee of the General Assembly that oversees matters related to higher education and employment advancement. This act is set to become effective on July 1, 2024. The bill does not include any text marked for insertion or deletion, indicating that it introduces new requirements rather than amending existing law.