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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