Senate File 2321 H-8359 Amend the amendment, H-8327, to Senate File 2321, 1 as amended, passed, and reprinted by the Senate, as 2 follows: 3 1. Page 18, after line 33 by inserting: 4 < Sec. ___. NEW SECTION . 261.115 Public service 5 loan repayment program. 6 1. A public service loan repayment program is 7 established to be administered by the commission. 8 2. An individual is eligible for the program if 9 the individual is a resident of Iowa and is employed 10 full-time by a public service organization located in 11 Iowa. For purposes of this section, “public service 12 organization” includes a state agency, an institution 13 of higher education governed by the state board of 14 regents, an area education agency, a school district, 15 a public child or family service agency, a nonprofit 16 organization that is exempt from taxation under section 17 501(a) of the Internal Revenue Code, or a private 18 organization that is a not-for-profit business, a 19 labor union, a partisan political organization, or 20 an organization engaged in religious activities that 21 provides any of the following secular services: 22 a. Emergency management. 23 b. Military service. 24 c. Public safety. 25 d. Law enforcement. 26 e. Public interest law services. 27 f. Early childhood education. 28 g. Public service for individuals with disabilities 29 and the elderly. 30 h. Public health. 31 i. Public education. 32 j. Public library services. 33 k. School library or other school-based services. 34 3. Each applicant for loan repayment shall submit 35 information requested by the commission in the manner 36 required by the commission, including but not limited 37 to an affidavit of employment verifying that the 38 applicant meets the requirements of subsection 2. 39 4. The annual amount of loan repayment shall 40 not exceed twenty percent of the individual’s total 41 federally guaranteed Stafford loan amount under 42 the federal family education loan program or the 43 federal direct loan program, including principal and 44 interest, whichever amount is less. The total amount 45 of loan repayment to an individual pursuant to this 46 subsection shall not exceed fifty thousand dollars. 47 An individual shall be eligible to apply for the loan 48 repayment program for not more than five years, but the 49 individual has ten years to complete the employment 50 -1- H8327.5433 (2) 84 kh/tm 1/ 3 #1.

requirements. 1 5. A public service loan repayment fund is created 2 in the state treasury as a separate fund under the 3 control of the commission. The fund shall consist of 4 any moneys appropriated by the general assembly and any 5 other moneys available to and obtained or accepted by 6 the commission from the federal government or private 7 sources for placement in the fund. Notwithstanding 8 section 8.33, moneys deposited in the fund shall 9 not revert to any fund of the state at the end of 10 any fiscal year but shall remain in the fund and be 11 continuously available for purposes of this section. 12 Notwithstanding section 12C.7, subsection 2, interest 13 or earnings on moneys deposited in the fund shall be 14 credited to the fund. 15 6. The commission shall submit by January 1 16 annually a report to the general assembly listing the 17 number of individuals who received loan repayment 18 pursuant to this section during the most recent fiscal 19 year, the types of public service organizations by 20 which the program participants were employed, the 21 amount paid to each program participant, and other 22 information identified by the commission as indicators 23 of outcomes from the program. > 24 2. Page 18, after line 45 by inserting: 25 < Sec. ___. Section 262.9, subsection 9, Code 26 Supplement 2011, is amended to read as follows: 27 9. Accept and administer trusts and may authorize 28 nonprofit foundations acting solely for the support 29 of institutions governed by the board to accept and 30 administer trusts deemed by the board to be beneficial. 31 Notwithstanding the provisions of section 633.63 , the 32 board and such nonprofit foundations may act as trustee 33 in such instances. Beginning July 1, 2013, the board 34 shall require the foundations to ask each individual 35 who makes a charitable donation to the foundation 36 whether the donor will permit five percent of the 37 amount donated to be set aside by the foundation for 38 deposit into a scholarship fund for students enrolled 39 at the institution for which the foundation is acting. 40 Sec. ___. Section 262.9, Code Supplement 2011, is 41 amended by adding the following new subsection: 42 NEW SUBSECTION . 36. Develop and implement by 43 July 1, 2014, a policy addressing the measures that 44 institutions of higher education governed by the board 45 shall take to provide financial literacy information, 46 tools, and skills to the institutions’ students. 47 Sec. ___. Section 262.26, Code 2011, is amended to 48 read as follows: 49 262.26 Report of board. 50 -2- H8327.5433 (2) 84 kh/tm 2/ 3 #2.

The board shall, biennially, at the time provided by 1 law, report to the governor and the legislature such 2 facts, observations, and conclusions respecting each 3 of such institutions as in the judgment of the board 4 should be considered by the legislature. Such report 5 shall contain an itemized account of the receipts 6 and expenditures of the board, and also the reports 7 made to the board by the executive officers of the 8 several institutions or a summary thereof, and shall 9 submit budgets for biennial appropriations deemed 10 necessary and proper to be made for the support of the 11 several institutions and for the extraordinary and 12 special expenditures for buildings, betterments, and 13 other improvements. Beginning July 1, 2013, reports 14 submitted to the board by the executive officers of 15 the institutions of higher education governed by the 16 board pursuant to this section shall include but not 17 be limited to the four-year, five-year, and six-year 18 student graduation rates of the institutions. > 19 3. By renumbering as necessary. 20 ______________________________ WESSEL-KROESCHELL of Story ______________________________ HEDDENS of Story -3- H8327.5433 (2) 84 kh/tm 3/ 3 #3.