IL HB4205 | 2021-2022 | 102nd General Assembly

Status

Spectrum: Partisan Bill (Democrat 2-0)
Status: Introduced on November 8 2021 - 25% progression, died in committee
Action: 2022-04-11 - Rule 19(a) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]

Summary

Creates the Loan Repayment Assistance Act. Requires the Illinois Student Assistance Commission to establish and administer a Loan Repayment Assistance Program for the purpose of providing loan repayment assistance to eligible applicants living and working in this State who have graduated from a high school located in this State and an institution of higher education located in this State or another state. On an annual basis, requires the Commission to receive and consider applications for loan repayment assistance under the Program and provide assistance if the Commission finds that the applicant (i) has graduated from a high school located in this State and from an institution of higher education located in this State or in another state as an undergraduate student with a cumulative grade point average of a 4.0 on a 4.0 scale, (ii) has been a resident of this State for at least 4 years after graduating from the institution of higher education, (iii) has been employed in this State for at least 4 years after graduating from the institution of higher education, and (iv) has eligible debt in grace or repayment status. Provides for the maximum amount of loan repayment assistance that may be provided. Provides that funds shall be distributed subject to the availability of appropriations. Sets forth requirements for loan forgiveness. Sets forth provisions concerning administration of the Program, ineligibility and the termination of funds, and other Commission powers. Amends the State Finance Act to create the Loan Repayment Assistance Fund as a special fund in the State treasury. Effective immediately.

Tracking Information

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Title

LOAN REPAYMENT ASSISTANCE ACT

Sponsors


History

DateChamberAction
2022-04-11HouseRule 19(a) / Re-referred to Rules Committee
2022-03-31HouseFinal Action Deadline Extended-9(b) April 8, 2022
2022-03-02HouseSuspend Rule 21 - Prevailed
2022-03-02HouseMoved to Suspend Rule 21 Rep. Greg Harris
2022-03-01HouseFinal Action Deadline Extended-9(b) March 31, 2022
2022-03-01HouseAssigned to Appropriations-Higher Education Committee
2022-02-25HouseRule 19(a) / Re-referred to Rules Committee
2022-02-18HouseCommittee Deadline Extended-Rule 9(b) February 25, 2022
2022-02-09HouseAssigned to Appropriations-Higher Education Committee
2022-01-05HouseReferred to Rules Committee
2022-01-05HouseFirst Reading
2021-12-06HouseAdded Chief Co-Sponsor Rep. Barbara Hernandez
2021-11-08HouseFiled with the Clerk by Rep. Katie Stuart

Code Citations

ChapterArticleSectionCitation TypeStatute Text
301055.970New CodeSee Bill Text

Illinois State Sources


Bill Comments

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