Bill Text: IA SF288 | 2021-2022 | 89th General Assembly | Introduced
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 SSB 1076.)
Spectrum: Committee Bill
Status: (Introduced - Dead) 2021-02-23 - Subcommittee: Cournoyer, Johnson, and J. Smith. S.J. 444. [SF288 Detail]
Download: Iowa-2021-SF288-Introduced.html
Senate
File
288
-
Introduced
SENATE
FILE
288
BY
COMMITTEE
ON
EDUCATION
(SUCCESSOR
TO
SSB
1076)
(COMPANION
TO
HF
371
BY
COMMITTEE
ON
EDUCATION)
A
BILL
FOR
An
Act
relating
to
the
transfer,
deposit,
and
appropriation
1
of
moneys
to
the
teach
Iowa
scholar
fund
from
the
teacher
2
shortage
forgivable
loan
repayment
fund
and
the
teacher
3
shortage
loan
forgiveness
repayment
fund.
4
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
5
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288
Section
1.
Section
261.110,
subsection
6,
Code
2021,
is
1
amended
to
read
as
follows:
2
6.
A
teach
Iowa
scholar
fund
is
established
in
the
state
3
treasury.
The
fund
shall
be
administered
by
the
commission
and
4
shall
consist
of
moneys
appropriated
by
the
general
assembly
5
and
any
other
moneys
received
by
the
commission
for
deposit
6
in
the
fund
,
including
payments
collected
by
the
commission
7
pursuant
to
section
261.111,
subsection
7
.
The
moneys
in
the
8
fund
are
appropriated
to
the
commission
for
the
teach
Iowa
9
scholar
program.
Notwithstanding
section
8.33
,
moneys
in
10
the
fund
at
the
close
of
the
fiscal
year
shall
not
revert
to
11
the
general
fund
of
the
state
but
shall
remain
available
for
12
expenditure
for
the
teach
Iowa
scholar
program
for
subsequent
13
fiscal
years.
Notwithstanding
section
12C.7,
subsection
2
,
14
interest
or
earnings
on
moneys
in
the
fund
shall
be
credited
15
to
the
fund.
16
Sec.
2.
Section
261.111,
subsection
7,
Code
2021,
is
amended
17
to
read
as
follows:
18
7.
A
teacher
shortage
forgivable
loan
repayment
fund
is
19
created
for
The
commission
shall
deposit
of
payments
made
by
20
forgivable
loan
recipients
who
do
not
fulfill
the
conditions
of
21
the
forgivable
loan
program
and
any
other
moneys
appropriated
22
to
or
received
by
the
commission
for
deposit
in
the
fund.
23
Notwithstanding
section
8.33
,
moneys
deposited
in
the
fund
24
shall
not
revert
to
the
general
fund
of
the
state
at
the
25
end
of
any
fiscal
year
but
shall
remain
in
the
forgivable
26
loan
repayment
fund
and
be
continuously
available
to
make
27
additional
loans
under
the
program
in
the
teach
Iowa
scholar
28
fund
established
pursuant
to
section
261.110,
subsection
6,
to
29
be
used
for
the
purposes
of
the
teach
Iowa
scholar
program
.
30
Notwithstanding
section
12C.7,
subsection
2
,
interest
or
31
earnings
on
moneys
deposited
in
the
fund
shall
be
credited
to
32
the
fund.
33
Sec.
3.
Section
261.112,
subsection
5,
Code
2021,
is
amended
34
by
striking
the
subsection.
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Sec.
4.
TEACHER
SHORTAGE
FORGIVABLE
LOAN
REPAYMENT
FUND
1
AND
TEACHER
SHORTAGE
LOAN
FORGIVENESS
REPAYMENT
FUND
——
MONEYS
2
TRANSFERRED
AND
APPROPRIATED.
3
1.
Any
unencumbered
or
unobligated
moneys
remaining
4
on
June
30,
2021,
in
the
teacher
shortage
forgivable
loan
5
repayment
fund
created
pursuant
to
section
261.111,
subsection
6
7,
are
transferred
and
appropriated
to
the
college
student
7
aid
commission
for
deposit
in
the
teach
Iowa
scholar
fund,
8
established
pursuant
to
section
261.110,
subsection
6,
to
be
9
used
for
purposes
of
the
teach
Iowa
scholar
program.
10
2.
Any
unencumbered
or
unobligated
moneys
remaining
11
on
June
30,
2021,
in
the
teacher
shortage
loan
forgiveness
12
repayment
fund
created
pursuant
to
section
261.112,
subsection
13
5,
are
transferred
and
appropriated
to
the
college
student
14
aid
commission
for
deposit
in
the
teach
Iowa
scholar
fund,
15
established
pursuant
to
section
261.110,
subsection
6,
to
be
16
used
for
purposes
of
the
teach
Iowa
scholar
program.
17
EXPLANATION
18
The
inclusion
of
this
explanation
does
not
constitute
agreement
with
19
the
explanation’s
substance
by
the
members
of
the
general
assembly.
20
This
bill
provides
for
the
transfer,
deposit,
or
21
appropriation
of
moneys
to
the
college
student
aid
commission,
22
to
be
used
for
purposes
of
the
teach
Iowa
scholar
program,
23
from
the
teacher
shortage
loan
forgiveness
and
forgivable
loan
24
programs
no
longer
supported
by
state
funding.
25
The
bill
provides
that
payments
the
commission
continues
to
26
collect
from
forgivable
loan
recipients
who
do
not
fulfill
the
27
conditions
of
the
teacher
shortage
forgivable
loan
repayment
28
program
are
to
be
deposited
in
the
teach
Iowa
scholar
fund
and
29
used
for
purposes
of
the
teach
Iowa
scholar
program.
The
bill
30
strikes
language
creating
the
teacher
shortage
loan
forgiveness
31
repayment
fund
and
provides
that
any
unencumbered
or
32
unobligated
moneys
remaining
in
the
teacher
shortage
forgivable
33
loan
repayment
and
teacher
shortage
loan
forgiveness
repayment
34
funds
on
June
30,
2021,
are
transferred
and
appropriated
to
the
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