Illinois House Bill 3370 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Partisan Bill (Democrat 1-0)
Status: Failed on January 8 2019 - 100% progression
Action: 2019-01-08 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]

Creates the Affordable College Financing Pilot Program Act. Requires the Illinois Student Assistance Commission to implement and administer a pilot program to provide loans to 400 eligible students to attend State universities. Requires the loans to be repaid beginning 6 months after the borrower leaves school, on a schedule that is based on the income of the borrower. Specifies calculations for the amount of the loan and terms for repayment. Requires the Commission to submit progress reports to the General Assembly. Provides that, in the progress report, the Commission shall track average cumulative debt and year-to-year student retention and track and report the progress of borrowers throughout the repayment period. Amends the State Finance Act. Creates the Affordable College Financing Pilot Program Fund as a special fund in the State treasury. Effective immediately.

AFFORDABLE COLLEGE FINANCING

Sen. Elgie Sims [D]

Date	Chamber	Action
2019-01-08	House	Session Sine Die
2017-03-31	House	Rule 19(a) / Re-referred to Rules Committee
2017-03-09	House	To Growth, Reform & Fairness Subcommittee
2017-02-22	House	Assigned to Revenue & Finance Committee
2017-02-10	House	Referred to Rules Committee
2017-02-10	House	First Reading
2017-02-09	House	Filed with the Clerk by Rep. Elgie R. Sims, Jr.

Chapter	Article	Section	Citation Type	Statute Text
30	105	5.878	New Code	See Bill Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=3370&GAID=14&DocTypeID=HB&SessionID=91&GA=100
Text	https://www.ilga.gov/legislation/100/HB/10000HB3370.htm