HF 126 (LSB 1622YH (4) 86)

HOUSE FILE 126

BY  SALMON

A BILL FOR

An Act relating to the time period over which payments are made under the all Iowa opportunity scholarship program.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:

    Section 1.  Section 261.87, subsection 3, paragraph b, Code 2015, is amended to read as follows:
   b.  A qualified student at a four-year eligible institution may receive scholarships for not more than the equivalent of two full-time semesters of undergraduate study, or the trimester or quarter equivalent.  At the time a qualified student at a four-year eligible institution accepts the scholarship awarded pursuant to this section, the qualified student may elect to receive the total scholarship amount awarded under this section in payments for up to a four-year time period, but to continue to receive award payments annually, the qualified student must each year meet the eligibility requirements established under this section.
    Sec. 2.  Section 261.87, subsection 4, Code 2015, is amended to read as follows:
   4.  Discontinuance of attendance —— remittance.  If a student receiving a scholarship pursuant to this section discontinues attendance before the end of any academic term, the entire amount of any refund due to the student, up to the amount of any payments made by the state for that year, shall be remitted by the eligible institution to the commission. The commission shall deposit refunds paid to the commission in accordance with this subsection into the fund established pursuant to subsection 5.
EXPLANATION
The inclusion of this explanation does not constitute agreement with

the explanation’s substance by the members of the general assembly.
   This bill authorizes a qualified state university student receiving an all Iowa opportunity scholarship to elect to receive the total scholarship amount awarded in payments for up to a four-year time period. A qualified student who elects to receive the total scholarship amount over multiple years must each year meet the eligibility requirements established under this Code section.