Text: H01717 Text: H01719 Text: H01700 - H01799 Text: H Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Amend House File 759 as follows: 1 2 #1. Page 1, line 4, by striking the word "amount" 1 3 and inserting the following: "amounts". 1 4 #2. Page 1, line 5, by striking the word "purpose" 1 5 and inserting the following: "purposes". 1 6 #3. Page 1, by inserting after line 6 the 1 7 following: 1 8 "1. TEACHER SHORTAGE FORGIVABLE LOAN PROGRAM". 1 9 #4. Page 1, by inserting after line 9 the 1 10 following: 1 11 "2. IOWA WORKER RETRAINING FORGIVABLE LOAN PROGRAM 1 12 For the Iowa worker retraining forgivable loan 1 13 program, as established in section 261.114: 1 14 .................................................. $ 1,750,000" 1 15 #5. Page 3, by inserting after line 10 the 1 16 following: 1 17 "Sec. . NEW SECTION. 261.114 IOWA WORKER 1 18 RETRAINING FORGIVABLE LOAN PROGRAM. 1 19 1. An Iowa worker retraining forgivable loan 1 20 program is established to be administered by the 1 21 college student aid commission. An individual is 1 22 eligible for the forgivable loan program if the 1 23 individual is a resident of this state who is enrolled 1 24 at a community college as established under chapter 1 25 260C, an institution of higher learning under the 1 26 control of the state board of regents, or an 1 27 accredited private institution as defined in section 1 28 261.9, in a designated skill area in which 1 29 occupational shortages are anticipated as determined 1 30 pursuant to subsection 2. 1 31 2. The governor's skills forecasting council shall 1 32 annually designate the skill areas in which 1 33 occupational shortages are anticipated. In 1 34 designating skills areas in which occupational 1 35 shortages are anticipated, the council shall consider 1 36 the quality of the jobs in the occupational shortage 1 37 area. In rating the quality of the jobs, the council 1 38 shall place greater emphasis on those jobs that have a 1 39 higher wage scale, have a lower turnover rate, are 1 40 full-time or career-type positions, provide 1 41 comprehensive health benefits, or have factors 1 42 associated with them that are indicative of jobs 1 43 higher in quality than jobs in other occupational 1 44 shortage areas. 1 45 3. Each applicant shall, in accordance with the 1 46 rules of the commission, do the following: 1 47 a. Complete and file an application, on forms 1 48 provided by the commission, for an Iowa worker 1 49 retraining forgivable loan. The individual shall be 1 50 responsible for the submission of the financial 2 1 information required for evaluation of the applicant's 2 2 need for a forgivable loan, on forms determined by the 2 3 commission. 2 4 b. File a new application and financial 2 5 information annually on the basis of which the 2 6 applicant's eligibility for a renewed forgivable loan 2 7 will be evaluated and determined. 2 8 4. Forgivable loans to eligible students shall not 2 9 become due until after the student graduates or leaves 2 10 school. The individual's total loan amount, including 2 11 principal and interest, shall be reduced by twenty- 2 12 five percent for each year in which the individual 2 13 remains an Iowa resident and is employed in Iowa in 2 14 the skill shortage area for which the loan was 2 15 approved. If the commission determines that the 2 16 person does not meet the criteria for forgiveness of 2 17 the principal and interest payments, the commission 2 18 shall establish a plan for repayment of the principal 2 19 and interest over a five-year period. If a person 2 20 required to make the repayment does not make the 2 21 required payments, the commission shall provide for 2 22 payment collection. 2 23 5. The amount of an Iowa worker retraining 2 24 forgivable loan shall not exceed one thousand five 2 25 hundred dollars annually, or the amount of the 2 26 student's established financial need, whichever is 2 27 less. However, if the loan amount approved by the 2 28 commission exceeds the student's expenses for tuition, 2 29 room and board, and mandatory fees, the balance shall 2 30 be distributed to the student for whom the loan was 2 31 made. However, the commission may exceed the maximum 2 32 loan amount based upon the demand for loans or an 2 33 extraordinary demand for trained workers in a skill 2 34 shortage area. 2 35 6. The commission shall prescribe by rule the 2 36 interest rate for the forgivable loan. 2 37 7. An Iowa worker retraining forgivable loan fund 2 38 is created for deposit of payments made by forgivable 2 39 loan recipients who do not fulfill the conditions of 2 40 the forgivable loan program, or by businesses who wish 2 41 to contribute financial assistance on behalf of 2 42 current or former employees. Notwithstanding section 2 43 8.33, moneys deposited in the fund shall not revert to 2 44 the general fund of the state at the end of any fiscal 2 45 year but shall remain in the forgivable loan fund and 2 46 be continuously available to make additional loans 2 47 under the program. Notwithstanding section 12C.7, 2 48 subsection 2, interest or earnings on moneys deposited 2 49 in the Iowa worker retraining forgivable loan fund 2 50 shall be credited to the fund. 3 1 8. The commission shall adopt rules for 3 2 determining financial need, defining tuition and 3 3 mandatory fees, defining residence for the purposes of 3 4 this section, processing and approving applications 3 5 for loan forgiveness, and determining priority of loan 3 6 forgiveness. The commission shall give priority to 3 7 students who have the greatest demonstrated financial 3 8 need, who wish to upgrade their skills, and who are 3 9 earning not more than two dollars over the minimum 3 10 wage as established in section 91D.1. The commission 3 11 shall also give priority to a person whose present or 3 12 former employer contributes financial assistance as 3 13 provided in subsection 7 on behalf of the person, and 3 14 the level of priority shall be based upon the amount 3 15 of the present or former employer's contribution." 3 16 #6. Page 5, by inserting after line 31 the 3 17 following: 3 18 "Sec. . FISCAL YEAR 1999-2000 OCCUPATIONAL 3 19 SHORTAGE AREAS. Notwithstanding section 261.114, 3 20 subsection 2, as enacted in this Act, for the fiscal 3 21 year beginning July 1, 1999, and ending June 30, 2000, 3 22 the Iowa workforce development board, in consultation 3 23 with the departments of education and economic 3 24 development and the college student aid commission, 3 25 shall designate skill shortage areas for purposes of 3 26 the Iowa worker retraining forgivable loan program." 3 27 #7. By renumbering as necessary. 3 28 3 29 3 30 3 31 WISE of Lee 3 32 HF 759.303 78 3 33 kh/cf
Text: H01717 Text: H01719 Text: H01700 - H01799 Text: H Index Bills and Amendments: General Index Bill History: General Index
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