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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