Bill Text: IA HF722 | 2021-2022 | 89th General Assembly | Enrolled
Bill Title: A bill for an act relating to the transfer, deposit, and appropriation of moneys to the teach Iowa scholar fund from the teacher shortage forgivable loan repayment fund and the teacher shortage loan forgiveness repayment fund. (Formerly HF 371, HSB 144.) Effective date: 07/01/2021.
Spectrum: Committee Bill
Status: (Passed) 2021-05-20 - Signed by Governor. H.J. 1210. [HF722 Detail]
Download: Iowa-2021-HF722-Enrolled.html
House
File
722
-
Enrolled
House
File
722
AN
ACT
RELATING
TO
THE
TRANSFER,
DEPOSIT,
AND
APPROPRIATION
OF
MONEYS
TO
THE
TEACH
IOWA
SCHOLAR
FUND
FROM
THE
TEACHER
SHORTAGE
FORGIVABLE
LOAN
REPAYMENT
FUND
AND
THE
TEACHER
SHORTAGE
LOAN
FORGIVENESS
REPAYMENT
FUND.
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
Section
1.
Section
261.110,
subsection
6,
Code
2021,
is
amended
to
read
as
follows:
6.
A
teach
Iowa
scholar
fund
is
established
in
the
state
treasury.
The
fund
shall
be
administered
by
the
commission
and
shall
consist
of
moneys
appropriated
by
the
general
assembly
and
any
other
moneys
received
by
the
commission
for
deposit
in
the
fund
,
including
payments
collected
by
the
commission
pursuant
to
section
261.111,
subsection
7
.
The
moneys
in
the
fund
are
appropriated
to
the
commission
for
the
teach
Iowa
scholar
program.
Notwithstanding
section
8.33
,
moneys
in
the
fund
at
the
close
of
the
fiscal
year
shall
not
revert
to
the
general
fund
of
the
state
but
shall
remain
available
for
House
File
722,
p.
2
expenditure
for
the
teach
Iowa
scholar
program
for
subsequent
fiscal
years.
Notwithstanding
section
12C.7,
subsection
2
,
interest
or
earnings
on
moneys
in
the
fund
shall
be
credited
to
the
fund.
Sec.
2.
Section
261.111,
subsection
7,
Code
2021,
is
amended
to
read
as
follows:
7.
A
teacher
shortage
forgivable
loan
repayment
fund
is
created
for
The
commission
shall
deposit
of
payments
made
by
forgivable
loan
recipients
who
do
not
fulfill
the
conditions
of
the
forgivable
loan
program
and
any
other
moneys
appropriated
to
or
received
by
the
commission
for
deposit
in
the
fund.
Notwithstanding
section
8.33
,
moneys
deposited
in
the
fund
shall
not
revert
to
the
general
fund
of
the
state
at
the
end
of
any
fiscal
year
but
shall
remain
in
the
forgivable
loan
repayment
fund
and
be
continuously
available
to
make
additional
loans
under
the
program
in
the
teach
Iowa
scholar
fund
established
pursuant
to
section
261.110,
subsection
6,
to
be
used
for
the
purposes
of
the
teach
Iowa
scholar
program
.
Notwithstanding
section
12C.7,
subsection
2
,
interest
or
earnings
on
moneys
deposited
in
the
fund
shall
be
credited
to
the
fund.
Sec.
3.
Section
261.112,
subsection
5,
Code
2021,
is
amended
by
striking
the
subsection.
Sec.
4.
TEACHER
SHORTAGE
FORGIVABLE
LOAN
REPAYMENT
FUND
AND
TEACHER
SHORTAGE
LOAN
FORGIVENESS
REPAYMENT
FUND
——
MONEYS
TRANSFERRED
AND
APPROPRIATED.
1.
Any
unencumbered
or
unobligated
moneys
remaining
on
June
30,
2021,
in
the
teacher
shortage
forgivable
loan
repayment
fund
created
pursuant
to
section
261.111,
subsection
7,
are
transferred
and
appropriated
to
the
college
student
aid
commission
for
deposit
in
the
teach
Iowa
scholar
fund,
established
pursuant
to
section
261.110,
subsection
6,
to
be
used
for
purposes
of
the
teach
Iowa
scholar
program.
2.
Any
unencumbered
or
unobligated
moneys
remaining
on
June
30,
2021,
in
the
teacher
shortage
loan
forgiveness
repayment
fund
created
pursuant
to
section
261.112,
subsection
5,
are
transferred
and
appropriated
to
the
college
student
aid
commission
for
deposit
in
the
teach
Iowa
scholar
fund,
House
File
722,
p.
3
established
pursuant
to
section
261.110,
subsection
6,
to
be
used
for
purposes
of
the
teach
Iowa
scholar
program.
______________________________
PAT
GRASSLEY
Speaker
of
the
House
______________________________
JAKE
CHAPMAN
President
of
the
Senate
I
hereby
certify
that
this
bill
originated
in
the
House
and
is
known
as
House
File
722,
Eighty-ninth
General
Assembly.
______________________________
MEGHAN
NELSON
Chief
Clerk
of
the
House
Approved
_______________,
2021
______________________________
KIM
REYNOLDS
Governor
