Bill Text: HI HB2605 | 2024 | Regular Session | Introduced
Bill Title: Relating To Teacher Loans.
Spectrum: Partisan Bill (Democrat 17-0)
Status: (Introduced) 2024-01-26 - Referred to EDN, FIN, referral sheet 3 [HB2605 Detail]
Download: Hawaii-2024-HB2605-Introduced.html
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HOUSE OF REPRESENTATIVES |
H.B. NO. |
2605 |
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THIRTY-SECOND LEGISLATURE, 2024 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
relating to teacher loans.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. Chapter 302A, Hawaii Revised Statutes, is amended by adding a new section to part III, subpart C, to be appropriately designated and to read as follows:
"§302A- Teacher
loans; department of education schools; loan forgiveness. (a)
There is established a teacher loan forgiveness program
to be administered by the department, in partnership with a financial
institution whose operations are principally conducted in Hawaii, to provide
financial support to teachers who agree to teach as a full-time teacher for two
years in the Hawaii public school system; provided that priority shall be given
for applications to teach
at a school located in a rural area in the State, as determined by the
superintendent.
(b) An individual applying for the teacher loan forgiveness
program shall obtain a license from the Hawaii teachers standard board prior to
submitting an application.
(c) Amounts to be loaned to each borrower shall
be determined by the board and shall not exceed $
per borrower.
(d) Awarding of funds to an individual approved
for the teacher loan forgiveness program shall begin within
months after approval of the of the individual's
application.
(e) Liability for repayment of a loan shall be
canceled upon the death or permanent total disability of the borrower.
(f) If a borrower fails to meet the requirement
of teaching in the Hawaii public school system for two years, then the borrower
shall repay:
(1) The total
amount of funds awarded to the borrower for any period of service commitment
not served;
(2) An amount equal
to the number of months of service commitment that were not completed by the
borrower, multiplied by
$ ; and
(3) The interest on
the total amount of funds awarded to the borrower, calculated at
per cent per year, from the date the borrower was
released from employment or terminated from employment, whichever is earlier;
provided that the amount of funds the department
is entitled to recover under this subsection shall be no less than
$ or
per cent of the borrower's total award amount,
whichever is lower.
(g) The department shall adopt rules pursuant to
chapter 91 to implement the teacher loan forgiveness program."
SECTION 2. There is appropriated out of the general revenues of the State of Hawaii the sum of $ or so much thereof as may be necessary for fiscal year 2024-2025 for the teacher loan forgiveness program established pursuant to section 302A- , Hawaii Revised Statutes.
The sum appropriated shall be expended by the department of education for the purposes of this Act.
SECTION 3. In accordance with section 9 of article VII of the Hawaii State Constitution and sections 37‑91 and 37‑93, Hawaii Revised Statutes, the legislature has determined that the appropriations contained in H.B. No. , will cause the state general fund expenditure ceiling for fiscal year 2024‑2025 to be exceeded by $ or per cent. In addition, the appropriation contained in this Act will cause the general fund expenditure ceiling for fiscal year 2024‑2025 to be further exceeded by $ or per cent. The combined total amount of general fund appropriations contained in only these two Acts will cause the state general fund expenditure ceiling for fiscal year 2024‑2025 to be exceeded by $ or per cent. The reasons for exceeding the general fund expenditure ceiling are that:
(1) The appropriation made in this Act is necessary to serve the public interest; and
(2) The appropriation made in this Act meets the needs addressed by this Act.
SECTION 4. New statutory material is underscored.
SECTION 5. This Act shall take effect on July 1, 2024.
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INTRODUCED BY: |
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Report Title:
Department of Education; Teachers Loans; Loan Forgiveness; Appropriation; Expenditure Ceiling
Description:
Requires the Department of Education to establish a teacher loan forgiveness program to assist in the payment of loans for teachers who commit to teaching in the Hawaii public school system. Appropriates funds.
The summary description
of legislation appearing on this page is for informational purposes only and is
not legislation or evidence of legislative intent.
