Text: S03236 Text: S03238 Text: S03200 - S03299 Text: S Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Amend Senate File 464 as follows:
1 2 #1. Page 2, by inserting after line 1 the
1 3 following:
1 4 " . IOWA WORKER RETRAINING FORGIVABLE LOAN
1 5 PROGRAM
1 6 For the Iowa worker retraining forgivable loan
1 7 program, as established in section 261.114:
1 8 .................................................. $ 1,750,000"
1 9 #2. Page 3, by inserting after line 6 the
1 10 following:
1 11 "Sec. . FISCAL YEAR 1999-2000 OCCUPATIONAL
1 12 SHORTAGE AREAS. Notwithstanding section 261.114,
1 13 subsection 2, for the fiscal year beginning July 1,
1 14 1999, and ending June 30, 2000, the Iowa workforce
1 15 development board, in consultation with the
1 16 departments of education and economic development and
1 17 the college student aid commission, shall designate
1 18 skill shortage areas for purposes of the Iowa worker
1 19 retraining forgivable loan program."
1 20 #3. Page 28, by inserting after line 13 the
1 21 following:
1 22 "Sec. . NEW SECTION. 261.114 IOWA WORKER
1 23 RETRAINING FORGIVABLE LOAN PROGRAM.
1 24 1. An Iowa worker retraining forgivable loan
1 25 program is established to be administered by the
1 26 college student aid commission. An individual is
1 27 eligible for the forgivable loan program if the
1 28 individual is a resident of this state who is enrolled
1 29 at a community college as established under chapter
1 30 260C, an institution of higher learning under the
1 31 control of the state board of regents, or an
1 32 accredited private institution as defined in section
1 33 261.9, in a designated skill area in which
1 34 occupational shortages are anticipated as determined
1 35 pursuant to subsection 2.
1 36 2. The governor's skills forecasting council shall
1 37 annually designate the skill areas in which
1 38 occupational shortages are anticipated. In
1 39 designating skills areas in which occupational
1 40 shortages are anticipated, the council shall consider
1 41 the quality of the jobs in the occupational shortage
1 42 area. In rating the quality of the jobs, the council
1 43 shall place greater emphasis on those jobs that have a
1 44 higher wage scale, have a lower turnover rate, are
1 45 full-time or career-type positions, provide
1 46 comprehensive health benefits, or have factors
1 47 associated with them that are indicative of jobs
1 48 higher in quality than jobs in other occupational
1 49 shortage areas.
1 50 3. Each applicant shall, in accordance with the
2 1 rules of the commission, do the following:
2 2 a. Complete and file an application, on forms
2 3 provided by the commission, for an Iowa worker
2 4 retraining forgivable loan. The individual shall be
2 5 responsible for the submission of the financial
2 6 information required for evaluation of the applicant's
2 7 need for a forgivable loan, on forms determined by the
2 8 commission.
2 9 b. File a new application and financial
2 10 information annually on the basis of which the
2 11 applicant's eligibility for a renewed forgivable loan
2 12 will be evaluated and determined.
2 13 4. Forgivable loans to eligible students shall not
2 14 become due until after the student graduates or leaves
2 15 school. The individual's total loan amount, including
2 16 principal and interest, shall be reduced by twenty-
2 17 five percent for each year in which the individual
2 18 remains an Iowa resident and is employed in Iowa in
2 19 the skill shortage area for which the loan was
2 20 approved. If the commission determines that the
2 21 person does not meet the criteria for forgiveness of
2 22 the principal and interest payments, the commission
2 23 shall establish a plan for repayment of the principal
2 24 and interest over a five-year period. If a person
2 25 required to make the repayment does not make the
2 26 required payments, the commission shall provide for
2 27 payment collection.
2 28 5. The amount of an Iowa worker retraining
2 29 forgivable loan shall not exceed one thousand five
2 30 hundred dollars annually, or the amount of the
2 31 student's established financial need, whichever is
2 32 less. However, if the loan amount approved by the
2 33 commission exceeds the student's expenses for tuition,
2 34 room and board, and mandatory fees, the balance shall
2 35 be distributed to the student for whom the loan was
2 36 made. However, the commission may exceed the maximum
2 37 loan amount based upon the demand for loans or an
2 38 extraordinary demand for trained workers in a skill
2 39 shortage area.
2 40 6. The commission shall prescribe by rule the
2 41 interest rate for the forgivable loan.
2 42 7. An Iowa worker retraining forgivable loan fund
2 43 is created for deposit of payments made by forgivable
2 44 loan recipients who do not fulfill the conditions of
2 45 the forgivable loan program, or by businesses who wish
2 46 to contribute financial assistance on behalf of
2 47 current or former employees. Notwithstanding section
2 48 8.33, moneys deposited in the fund shall not revert to
2 49 the general fund of the state at the end of any fiscal
2 50 year but shall remain in the forgivable loan fund and
3 1 be continuously available to make additional loans
3 2 under the program. Notwithstanding section 12C.7,
3 3 subsection 2, interest or earnings on moneys deposited
3 4 in the Iowa worker retraining forgivable loan fund
3 5 shall be credited to the fund.
3 6 8. The commission shall adopt rules for
3 7 determining financial need, defining tuition and
3 8 mandatory fees, defining residence for the purposes of
3 9 this section, processing and approving applications
3 10 for loan forgiveness, and determining priority of loan
3 11 forgiveness. The commission shall give priority to
3 12 students who have the greatest demonstrated financial
3 13 need, who wish to upgrade their skills, and who are
3 14 earning not more than two dollars over the minimum
3 15 wage as established in section 91D.1. The commission
3 16 shall also give priority to a person whose present or
3 17 former employer contributes financial assistance as
3 18 provided in subsection 7 on behalf of the person, and
3 19 the level of priority shall be based upon the amount
3 20 of the present or former employer's contribution."
3 21 #4. By renumbering, relettering, and redesignating
3 22 as necessary.
3 23
3 24
3 25
3 26 MICHAEL E. GRONSTAL
3 27 JOHN P. KIBBIE
3 28 DENNIS H. BLACK
3 29 DICK L. DEARDEN
3 30 WALLY E. HORN
3 31 MARK SHEARER
3 32 ROBERT E. DVORSKY
3 33 SF 464.201 78
3 34 kh/gg
Text: S03236 Text: S03238 Text: S03200 - S03299 Text: S Index Bills and Amendments: General Index Bill History: General Index
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