The Senate Finance Committeeplans to take up a bill that would create a fund for student scholarships.

The bill, requested by Gov. Sean Parnell, would establish a fund providing a long-term funding source for merit scholarships, a pet project of Parnell.

The Legislature last year approved $400 million as a set-aside for the fund but the bill establishing the fund stalled in the Senate after clearing the House.

Sen. Bert Stedman says a committee version of the bill is expected to be released Wednesday.