Text: HF00462 Text: HF00464 Text: HF00400 - HF00499 Text: HF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Section 1. COLLEGE STUDENT AID COMMISSION. There is
1 2 appropriated from the general fund of the state to the college
1 3 student aid commission for the fiscal year beginning July 1,
1 4 2001, and ending June 30, 2002, the following amount, or so
1 5 much thereof as is necessary, to be used for the purpose
1 6 designated:
1 7 For the teacher scarcity loan reduction program pursuant to
1 8 section 261.111A:
1 9 .................................................. $ 1,000,000
1 10 Sec. 2. NEW SECTION. 261.111A TEACHER SCARCITY LOAN
1 11 REDUCTION PROGRAM.
1 12 1. A teacher scarcity loan reduction program is
1 13 established to be administered by the college student aid
1 14 commission. An individual is eligible for loan reduction
1 15 payments under the program if the individual meets all of the
1 16 following conditions:
1 17 a. Is a resident of the state who successfully completed
1 18 an approved practitioner preparation program, received a
1 19 baccalaureate degree after January 1, 2001, and is a teacher
1 20 employed on a full-time basis by a school district in Iowa as
1 21 a practitioner in a teacher scarcity area.
1 22 b. As of the beginning of a school year, has an
1 23 outstanding debt with an eligible lender under the Iowa
1 24 guaranteed loan program or Iowa supplemental loans for
1 25 students program, or has parents with an outstanding debt with
1 26 an eligible lender under the PLUS loan program.
1 27 c. Has never defaulted on a loan guaranteed by the
1 28 commission or by the federal government.
1 29 2. The director of the department of education shall
1 30 annually designate the geographic areas or school attendance
1 31 centers anticipating or experiencing a scarcity of teachers.
1 32 The director shall periodically conduct a survey of school
1 33 districts to determine scarcity areas.
1 34 3. The maximum annual reimbursement payment to an eligible
1 35 teacher for loan reduction payments made during a school year
2 1 is one thousand dollars or the remainder of the teacher's
2 2 loan, whichever is less. Total payments for an eligible
2 3 teacher shall not exceed ten thousand dollars. If a teacher
2 4 fails to complete a year of teaching in a teacher-scarcity
2 5 area designated in accordance with subsection 2, the
2 6 commission shall not make a loan payment on behalf of the
2 7 teacher for that school year. However, if the commission
2 8 makes a loan payment on behalf of a teacher who fails to
2 9 complete the school year for which a loan payment was made,
2 10 the teacher shall reimburse the commission for the loan
2 11 payment.
2 12 4. A teacher scarcity loan reduction fund is created for
2 13 deposit of payments made by individuals who failed to complete
2 14 a year of teaching as provided in subsection 3, and for any
2 15 other moneys appropriated to or received by the commission for
2 16 deposit in the fund. Notwithstanding section 8.33, moneys
2 17 deposited in the fund shall not revert to the general fund of
2 18 the state at the end of any fiscal year but shall remain in
2 19 the loan reduction fund and be continuously available to make
2 20 additional loan payments under the program. Notwithstanding
2 21 section 12C.7, subsection 2, interest or earnings on moneys
2 22 deposited in the fund shall be credited to the fund.
2 23 5. For purposes of this section, unless the context
2 24 otherwise requires, "teacher" means the same as defined in
2 25 section 272.1.
2 26 6. The commission shall adopt rules pursuant to chapter
2 27 17A to administer this section.
2 28 EXPLANATION
2 29 This bill creates a teacher scarcity loan reduction program
2 30 and appropriates $1 million from the general fund of the state
2 31 to the college student aid commission for the program.
2 32 A person is eligible for loan reduction payments if the
2 33 individual is a resident of Iowa who successfully completed an
2 34 approved practitioner preparation program, received a four-
2 35 year degree after January 1, 2001, is a full-time teacher
3 1 employed by a school district in Iowa, has an outstanding debt
3 2 with an eligible lender under the Iowa guaranteed loan program
3 3 or the Iowa supplemental loans for students program, or whose
3 4 parents have an outstanding debt in the PLUS program, has
3 5 never defaulted on a college student aid commission loan or
3 6 federal loan, and teaches in a geographic area or school
3 7 district attendance center the department of education has
3 8 designated as a teacher scarcity area.
3 9 The maximum annual amount of reimbursement under the bill
3 10 is $1,000 or the remainder of the teacher's loan, whichever is
3 11 less. Total payments to an eligible teacher are limited to
3 12 $10,000. If the teacher fails to finish the year of
3 13 instruction in a designated teacher-shortage area, no loan
3 14 reduction payment shall be made on behalf of the teacher for
3 15 that year, and any payment made on behalf of a teacher who
3 16 fails to finish a year of instruction must be reimbursed to
3 17 the commission by the teacher for deposit in a teacher
3 18 scarcity loan reduction fund.
3 19 LSB 2379HH 79
3 20 kh/cf/24
Text: HF00462 Text: HF00464 Text: HF00400 - HF00499 Text: HF Index Bills and Amendments: General Index Bill History: General Index
© 2001 Cornell College and League of Women Voters of Iowa
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