Bill Text: IA HF2356 | 2011-2012 | 84th General Assembly | Introduced
Bill Title: A bill for an act relating to postsecondary student financial assistance and graduation rates.
Spectrum: Slight Partisan Bill (Democrat 2-1)
Status: (Introduced - Dead) 2012-02-27 - Subcommittee, L. Miller, Forristall, and Steckman. H.J. 338. [HF2356 Detail]
Download: Iowa-2011-HF2356-Introduced.html
House
File
2356
-
Introduced
HOUSE
FILE
2356
BY
WESSEL-KROESCHELL
,
BYRNES
,
and
HEDDENS
A
BILL
FOR
An
Act
relating
to
postsecondary
student
financial
assistance
1
and
graduation
rates.
2
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
3
TLSB
5931HH
(4)
84
kh/nh
H.F.
2356
Section
1.
NEW
SECTION
.
261.115
Public
service
loan
1
repayment
program.
2
1.
A
public
service
loan
repayment
program
is
established
to
3
be
administered
by
the
commission.
4
2.
An
individual
is
eligible
for
the
program
if
the
5
individual
is
a
resident
of
Iowa
and
is
employed
full-time
by
6
a
public
service
organization
located
in
Iowa.
For
purposes
7
of
this
section,
“public
service
organization”
includes
a
state
8
agency,
an
institution
of
higher
education
governed
by
the
9
state
board
of
regents,
an
area
education
agency,
a
school
10
district,
a
public
child
or
family
service
agency,
a
nonprofit
11
organization
that
is
exempt
from
taxation
under
section
12
501(a)
of
the
Internal
Revenue
Code,
or
a
private
organization
13
that
is
a
not-for-profit
business,
a
labor
union,
a
partisan
14
political
organization,
or
an
organization
engaged
in
religious
15
activities
that
provides
any
of
the
following
secular
services:
16
a.
Emergency
management.
17
b.
Military
service.
18
c.
Public
safety.
19
d.
Law
enforcement.
20
e.
Public
interest
law
services.
21
f.
Early
childhood
education.
22
g.
Public
service
for
individuals
with
disabilities
and
the
23
elderly.
24
h.
Public
health.
25
i.
Public
education.
26
j.
Public
library
services.
27
k.
School
library
or
other
school-based
services.
28
3.
Each
applicant
for
loan
repayment
shall
submit
29
information
requested
by
the
commission
in
the
manner
required
30
by
the
commission,
including
but
not
limited
to
an
affidavit
of
31
employment
verifying
that
the
applicant
meets
the
requirements
32
of
subsection
2.
33
4.
The
annual
amount
of
loan
repayment
shall
not
exceed
34
twenty
percent
of
the
individual’s
total
federally
guaranteed
35
-1-
LSB
5931HH
(4)
84
kh/nh
1/
5
H.F.
2356
Stafford
loan
amount
under
the
federal
family
education
loan
1
program
or
the
federal
direct
loan
program,
including
principal
2
and
interest,
whichever
amount
is
less.
The
total
amount
of
3
loan
repayment
to
an
individual
pursuant
to
this
subsection
4
shall
not
exceed
fifty
thousand
dollars.
An
individual
shall
5
be
eligible
to
apply
for
the
loan
repayment
program
for
not
6
more
than
five
years,
but
the
individual
has
ten
years
to
7
complete
the
employment
requirements.
8
5.
A
public
service
loan
repayment
fund
is
created
in
the
9
state
treasury
as
a
separate
fund
under
the
control
of
the
10
commission.
The
fund
shall
consist
of
any
moneys
appropriated
11
by
the
general
assembly
and
any
other
moneys
available
to
12
and
obtained
or
accepted
by
the
commission
from
the
federal
13
government
or
private
sources
for
placement
in
the
fund.
14
Notwithstanding
section
8.33,
moneys
deposited
in
the
fund
15
shall
not
revert
to
any
fund
of
the
state
at
the
end
of
any
16
fiscal
year
but
shall
remain
in
the
fund
and
be
continuously
17
available
for
purposes
of
this
section.
Notwithstanding
18
section
12C.7,
subsection
2,
interest
or
earnings
on
moneys
19
deposited
in
the
fund
shall
be
credited
to
the
fund.
20
6.
The
commission
shall
submit
by
January
1
annually
21
a
report
to
the
general
assembly
listing
the
number
of
22
individuals
who
received
loan
repayment
pursuant
to
this
23
section
during
the
most
recent
fiscal
year,
the
types
of
public
24
service
organizations
by
which
the
program
participants
were
25
employed,
the
amount
paid
to
each
program
participant,
and
26
other
information
identified
by
the
commission
as
indicators
27
of
outcomes
from
the
program.
28
Sec.
2.
Section
262.9,
subsection
9,
Code
Supplement
2011,
29
is
amended
to
read
as
follows:
30
9.
Accept
and
administer
trusts
and
may
authorize
nonprofit
31
foundations
acting
solely
for
the
support
of
institutions
32
governed
by
the
board
to
accept
and
administer
trusts
deemed
33
by
the
board
to
be
beneficial.
Notwithstanding
the
provisions
34
of
section
633.63
,
the
board
and
such
nonprofit
foundations
35
-2-
LSB
5931HH
(4)
84
kh/nh
2/
5
H.F.
2356
may
act
as
trustee
in
such
instances.
Beginning
July
1,
2013,
1
the
board
shall
require
the
foundations
to
ask
each
individual
2
who
makes
a
charitable
donation
to
the
foundation
whether
the
3
donor
will
permit
five
percent
of
the
amount
donated
to
be
set
4
aside
by
the
foundation
for
deposit
into
a
scholarship
fund
for
5
students
enrolled
at
the
institution
for
which
the
foundation
6
is
acting.
7
Sec.
3.
Section
262.9,
Code
Supplement
2011,
is
amended
by
8
adding
the
following
new
subsection:
9
NEW
SUBSECTION
.
36.
Develop
and
implement
by
July
1,
2014,
10
a
policy
addressing
the
measures
that
institutions
of
higher
11
education
governed
by
the
board
shall
take
to
provide
financial
12
literacy
information,
tools,
and
skills
to
the
institutions’
13
students.
14
Sec.
4.
Section
262.26,
Code
2011,
is
amended
to
read
as
15
follows:
16
262.26
Report
of
board.
17
The
board
shall,
biennially,
at
the
time
provided
by
18
law,
report
to
the
governor
and
the
legislature
such
facts,
19
observations,
and
conclusions
respecting
each
of
such
20
institutions
as
in
the
judgment
of
the
board
should
be
21
considered
by
the
legislature.
Such
report
shall
contain
22
an
itemized
account
of
the
receipts
and
expenditures
of
the
23
board,
and
also
the
reports
made
to
the
board
by
the
executive
24
officers
of
the
several
institutions
or
a
summary
thereof,
25
and
shall
submit
budgets
for
biennial
appropriations
deemed
26
necessary
and
proper
to
be
made
for
the
support
of
the
several
27
institutions
and
for
the
extraordinary
and
special
expenditures
28
for
buildings,
betterments,
and
other
improvements.
Beginning
29
July
1,
2013,
reports
submitted
to
the
board
by
the
executive
30
officers
of
the
institutions
of
higher
education
governed
by
31
the
board
pursuant
to
this
section
shall
include
but
not
be
32
limited
to
the
four-year,
five-year,
and
six-year
student
33
graduation
rates
of
the
institutions.
34
EXPLANATION
35
-3-
LSB
5931HH
(4)
84
kh/nh
3/
5
H.F.
2356
This
bill
establishes
a
public
service
loan
repayment
1
program
for
Iowa
residents
who
are
employed
full-time
by
a
2
public
service
organization
located
in
the
state.
The
bill
3
also
directs
the
state
board
of
regents
to
require,
beginning
4
July
1,
2013,
the
nonprofit
foundations
which
act
solely
5
for
the
support
of
its
universities
to
ask
each
foundation
6
donor
to
permit
5
percent
of
the
donation
to
be
set
aside
7
for
scholarships;
to
develop
and
implement
by
July
1,
2014,
8
a
policy
addressing
the
measures
that
its
universities
shall
9
take
to
provide
financial
literacy
information,
tools,
and
10
skills
to
their
students;
and
to
include
in
the
report
the
11
board
submits
biennially
to
the
governor
and
the
legislature,
12
beginning
July
1,
2013,
reports
submitted
by
the
institutions’
13
presidents
regarding
their
institution’s
four-year,
five-year,
14
and
six-year
graduation
rates.
15
For
purposes
of
the
public
service
loan
repayment
program,
16
the
term
“public
service
organization”
includes
a
state
17
agency,
an
institution
of
higher
education
governed
by
the
18
state
board
of
regents,
an
area
education
agency,
a
school
19
district,
a
public
child
or
family
service
agency,
a
nonprofit
20
organization
that
is
exempt
from
taxation
under
section
21
501(a)
of
the
Internal
Revenue
Code,
or
a
private
organization
22
that
is
a
not-for-profit
business,
a
labor
union,
a
partisan
23
political
organization,
or
an
organization
engaged
in
religious
24
activities
that
provides
any
of
the
following
secular
services:
25
emergency
management,
military
service,
public
safety,
law
26
enforcement,
public
interest
law
services,
early
childhood
27
education,
public
service
for
individuals
with
disabilities
and
28
the
elderly,
public
health,
public
education,
public
library
29
services,
or
school
library
or
other
school-based
services.
30
The
annual
amount
of
loan
repayment
shall
not
exceed
20
31
percent
of
the
individual’s
total
federally
guaranteed
Stafford
32
loan
amount
under
the
federal
family
education
loan
program
33
or
the
federal
direct
loan
program,
including
principal
and
34
interest,
whichever
amount
is
less.
The
total
amount
of
loan
35
-4-
LSB
5931HH
(4)
84
kh/nh
4/
5
H.F.
2356
repayment
an
individual
may
be
eligible
to
receive
shall
not
1
exceed
$50,000.
An
individual
shall
be
eligible
to
apply
2
for
the
loan
repayment
program
for
not
more
than
five
years,
3
but
the
individual
has
10
years
to
complete
the
employment
4
requirements.
5
The
bill
creates
a
public
service
loan
repayment
fund
in
the
6
state
treasury
under
the
control
of
the
college
student
aid
7
commission
for
deposit
of
moneys
appropriated
to
or
received
by
8
the
commission
for
purposes
of
the
program.
Moneys
in
the
fund
9
do
not
revert
to
any
fund
of
the
state
at
the
end
of
any
fiscal
10
year
but
shall
remain
continuously
available
for
loan
repayment
11
under
the
program.
Interest
or
earnings
on
moneys
deposited
in
12
the
fund
shall
be
credited
to
the
fund.
13
The
commission
shall
submit
by
January
1
annually
a
report
14
to
the
general
assembly
listing
the
number
of
individuals
who
15
received
loan
repayment
during
the
most
recent
fiscal
year,
16
the
types
of
public
service
organizations
by
which
the
program
17
participants
were
employed,
the
amount
paid
to
each
program
18
participant,
and
other
information
identified
by
the
commission
19
as
indicators
of
outcomes
from
the
program.
20
-5-
LSB
5931HH
(4)
84
kh/nh
5/
5
