House Amendment 8374


PAG LIN




     1  1    Amend House File 2760 as follows:
     1  2 #1.  Page 1, by inserting after line 10 the
     1  3 following:
     1  4    <Sec.    .  Section 261.111, subsections 4 and 5,
     1  5 Code 2005, are amended to read as follows:
     1  6    4.  Forgivable loans to eligible students shall not
     1  7 become due until after the student graduates or leaves
     1  8 school.  The individual's total loan amount, including
     1  9 principal and interest, shall be reduced by twenty
     1 10 percent for each year in which the individual remains
     1 11 an Iowa resident and is employed in Iowa by a school
     1 12 district or an accredited nonpublic school as a
     1 13 practitioner in the teacher shortage area for which
     1 14 the loan was approved.  However, the individual's
     1 15 total loan amount, including principal and interest,
     1 16 shall be reduced by twenty=five percent for each year
     1 17 in which the individual remains an Iowa resident and
     1 18 is employed in Iowa by a school district or accredited
     1 19 nonpublic school as a practitioner if the individual
     1 20 is appropriately endorsed by the board of educational
     1 21 examiners and teaches mathematics or science for more
     1 22 than fifty percent of the individual's contracted
     1 23 time.  If the commission determines that the person
     1 24 does not meet the criteria for forgiveness of the
     1 25 principal and interest payments, the commission shall
     1 26 establish a plan for repayment of the principal and
     1 27 interest over a ten=year period.  If a person required
     1 28 to make the repayment does not make the required
     1 29 payments, the commission shall provide for payment
     1 30 collection.
     1 31    5.  The amount of a teacher shortage forgivable
     1 32 loan shall not exceed three thousand dollars annually,
     1 33 or the amount of the student's established financial
     1 34 need, whichever is less.  However, if a student's
     1 35 major course of study is in mathematics or science
     1 36 leading to a baccalaureate or graduate degree, the
     1 37 amount of the teacher shortage forgivable loan shall
     1 38 not exceed five thousand dollars annually, or the
     1 39 amount of the student's established financial need,
     1 40 whichever is less.>
     1 41 #2.  By striking page 1, line 24, through page 3,
     1 42 line 20, and inserting the following:
     1 43    <Sec.    .  Section 261.54, Code 2005, is
     1 44 repealed.>
     1 45 #3.  By renumbering as necessary.
     1 46
     1 47
     1 48                               
     1 49 MASCHER of Johnson
     1 50 HF 2760.702 81
     2  1 kh/gg/1864

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