Bills › 89th General Assembly
HSB 144
Where it is now
- Done: IntroducedJanuary 26, 2021
- Done: SubcommitteeJanuary 26, 2021
- Done: House committeeFebruary 2, 2021
- Skipped: Passes the HouseContinued as HF 722
- Next: Senate committee
- Next: Passes the Senate
- Next: To the Governor
- Next: Signed into law
Became HF 722 → Its progress continues under the new number. Go to HF 722 What’s a funnel?
What’s in it
This bill provides for the transfer, deposit, or appropriation of moneys to the college student aid commission, to be used for purposes of the teach Iowa scholar program, from the teacher shortage loan forgiveness and forgivable loan programs no longer supported by state funding. The bill provides that payments the commission continues to collect from forgivable loan recipients who do not fulfill the conditions of the teacher shortage forgivable loan repayment program are to be deposited in the teach Iowa scholar fund and used for purposes of the teach Iowa scholar program.
Read the full explanation
_____ commission for deposit in the teach Iowa scholar fund to be used for the purposes of the teach Iowa scholar program.
House subcommittee
Named January 26, 2021. On January 28, 2021 it recommended passage.
Three legislators hear a bill first and recommend what the committee should do; it’s the best time to weigh in. How to take part
Fiscal note
AI summary This bill transfers money from two existing teacher loan funds into the Teach Iowa Scholar Fund. It is estimated that approximately $191,000 will be transferred to the Teach Iowa Scholar Fund in fiscal year 2022.2
Read the fiscal note
Description
House File 722 provides for the transfer of all funds that are available and that become available in the Teacher Shortage Forgivable Loan Repayment Fund, established in Iowa Code section 261.111, and the Teacher Shortage Loan Forgiveness Repayment Fund, established in Iowa Code section 261.112, to the Teach Iowa Scholar Fund, established in Iowa Code section 261.110. The Bill appropriates the transferred funds to the College Student Aid Commission to be used for the purposes of the Teach Iowa Scholar Program.
Background
The Teacher Shortage Loan Forgiveness and Forgivable Loan Programs are no longer supported by State funding.
Fiscal Impact
The Iowa College Student Aid Commission estimates that as of May 10, 2021, approximately $157,000 is available to transfer to the Teach Iowa Scholar Fund and approximately $2,500 in additional repayments is received each month. Under the Bill, approximately $191,000 will be transferred to the Teach Iowa Scholar Fund in FY 2022.
Source
- Iowa College Student Aid Commission
- Final Fiscal Note — Teach Iowa Scholar · June 10, 2021 · $191,000
- Teach Iowa Scholar · March 3, 2021 · $191,000
- Teach Iowa Scholar · February 15, 2021