Text: H01735 Text: H01737 Text: H01700 - H01799 Text: H Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Amend the Committee amendment, H-1618, to Senate 1 2 File 464, as amended, passed, and reprinted by the 1 3 Senate, as follows: 1 4 #1. Page 26, by inserting after line 16 the 1 5 following: 1 6 "Sec. . Section 261.111, Code 1999, is amended 1 7 by striking the section and inserting in lieu thereof 1 8 the following: 1 9 261.111 TEACHER SHORTAGE FORGIVABLE LOAN PROGRAM. 1 10 1. A teacher shortage forgivable loan program is 1 11 established to be administered by the college student 1 12 aid commission. An individual is eligible for the 1 13 forgivable loan program if the individual is a 1 14 resident of this state who is enrolled as a sophomore, 1 15 junior, senior, or graduate student in an approved 1 16 practitioner preparation program in a designated area 1 17 in which teacher shortages are anticipated, at an 1 18 institution of higher learning under the control of 1 19 the state board of regents or an accredited private 1 20 institution as defined in section 261.9. 1 21 2. The director of the department of education 1 22 shall annually designate the areas in which teacher 1 23 shortages are anticipated. The director shall 1 24 periodically conduct a survey of school districts, 1 25 accredited nonpublic schools, and approved 1 26 practitioner preparation programs to determine current 1 27 shortage areas and predict future shortage areas. 1 28 3. Each applicant shall, in accordance with the 1 29 rules of the commission, do the following: 1 30 a. Complete and file an application for a teacher 1 31 shortage forgivable loan. The individual shall be 1 32 responsible for the prompt submission of any 1 33 information required by the commission. 1 34 b. File a new application and submit information 1 35 as required by the commission annually on the basis of 1 36 which the applicant's eligibility for the renewed 1 37 forgivable loan will be evaluated and determined. 1 38 4. Forgivable loans to eligible students shall not 1 39 become due until after the student graduates or leaves 1 40 school. The individual's total loan amount, including 1 41 principal and interest, shall be reduced by twenty 1 42 percent for each year in which the individual remains 1 43 an Iowa resident and is employed in Iowa by a school 1 44 district or an accredited nonpublic school as a 1 45 practitioner in the teacher shortage area for which 1 46 the loan was approved. If the commission determines 1 47 that the person does not meet the criteria for 1 48 forgiveness of the principal and interest payments, 1 49 the commission shall establish a plan for repayment of 1 50 the principal and interest over a ten-year period. If 2 1 a person required to make the repayment does not make 2 2 the required payments, the commission shall provide 2 3 for payment collection. 2 4 5. The amount of a teacher shortage forgivable 2 5 loan shall not exceed three thousand dollars annually, 2 6 or the amount of the student's established financial 2 7 need, whichever is less. 2 8 6. The commission shall prescribe by rule the 2 9 interest rate for the forgivable loan. 2 10 7. A teacher shortage forgivable loan repayment 2 11 fund is created for deposit of payments made by 2 12 forgivable loan recipients who do not fulfill the 2 13 conditions of the forgivable loan program and any 2 14 other moneys appropriated to or received by the 2 15 commission for deposit in the fund. Notwithstanding 2 16 section 8.33, moneys deposited in the fund shall not 2 17 revert to the general fund of the state at the end of 2 18 any fiscal year but shall remain in the forgivable 2 19 loan repayment fund and be continuously available to 2 20 make additional loans under the program. 2 21 Notwithstanding section 12C.7, subsection 2, interest 2 22 or earnings on moneys deposited in the fund shall be 2 23 credited to the fund. 2 24 8. For purposes of this section, unless the 2 25 context otherwise requires, "teacher" means the same 2 26 as defined in section 272.1." 2 27 #2. Page 27, by striking line 13 and inserting the 2 28 following: 2 29 "Sec. . Sections 261.21 and 261.112, Code 1999, 2 30 are repealed." 2 31 #3. By renumbering, relettering, and redesignating 2 32 as necessary. 2 33 2 34 2 35 2 36 RANTS of Woodbury 2 37 2 38 2 39 2 40 Hansen of Pottawattamie 2 41 SF 464.729 78 2 42 kh/sc
Text: H01735 Text: H01737 Text: H01700 - H01799 Text: H Index Bills and Amendments: General Index Bill History: General Index
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