House File 429 - Introduced



                                       HOUSE FILE       
                                       BY  MAY


    Passed House,  Date               Passed Senate, Date             
    Vote:  Ayes        Nays           Vote:  Ayes        Nays         
                 Approved                            

                                      A BILL FOR

  1 An Act making an appropriation to the college student aid
  2    commission for purposes of the teacher shortage forgivable
  3    loan program and relating to the allocation of program moneys.
  4 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
  5 TLSB 1926YH 82
  6 kh/je/5

PAG LIN



  1  1    Section 1.  Section 261.111, subsection 10, Code 2007, is
  1  2 amended to read as follows:
  1  3    10.  Moneys appropriated by the general assembly for
  1  4 purposes of this section shall be allocated only to the extent
  1  5 that the state moneys are matched from other sources by the
  1  6 commission on a dollar=for=dollar basis after federal
  1  7 education funds available for purposes of this section are
  1  8 exhausted.
  1  9    Sec. 2.  Section 261.111, Code 2007, is amended by adding
  1 10 the following new subsection:
  1 11    NEW SUBSECTION.  11.  There is appropriated annually from
  1 12 the general fund of the state to the college student aid
  1 13 commission up to two million dollars for purposes of the
  1 14 teacher shortage forgivable loan program administered by the
  1 15 commission pursuant to this section.
  1 16                           EXPLANATION
  1 17    This bill appropriates up to $2 million annually to the
  1 18 college student aid commission for purposes of the teacher
  1 19 shortage forgivable loan program.  However, the bill requires
  1 20 that federal funds available for the program be exhausted
  1 21 before state moneys are allocated for the program.  The bill
  1 22 eliminates a requirement that the commission provide funds
  1 23 from other sources to match the state funds on a
  1 24 dollar=for=dollar basis.
  1 25 LSB 1926YH 82
  1 26 kh:nh/je/5.1