HF 644

as introduced - 82nd Legislature (2001 - 2002) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             relating to higher education; creating a technical 
  1.3             career student loan forgiveness program; appropriating 
  1.4             money. 
  1.5   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.6      Section 1.  [TECHNICAL CAREERS STUDENT LOAN FORGIVENESS 
  1.7   PROGRAM.] 
  1.8      Subdivision 1.  [DEFINITIONS.] (a) For purposes of this 
  1.9   section, the following terms have the meaning given. 
  1.10     (b) "Commissioner" means the commissioner of trade and 
  1.11  economic development. 
  1.12     (c) "Eligible profession" means the loan forgiveness 
  1.13  participant is employed as a worker in a high-demand technical 
  1.14  field, such as information and communications technology. 
  1.15     (d) "Office" means the higher education services office. 
  1.16     Subd. 2.  [ESTABLISHMENT.] The office shall develop a loan 
  1.17  forgiveness program for students entering eligible professions 
  1.18  expecting worker shortages over the next decade who agree to 
  1.19  work in the state of Minnesota.  The office, in consultation 
  1.20  with the commissioner, shall identify high-demand technical 
  1.21  fields needed in the state that shall qualify as "eligible 
  1.22  professions" for purposes of this section. 
  1.23     Subd. 3.  [ELIGIBILITY.] To be eligible to participate in 
  1.24  the program, a student must submit an application to the office 
  1.25  while attending a program of study designed to prepare the 
  2.1   student for service in an eligible profession provided in 
  2.2   subdivision 1.  A student who is accepted into the program must 
  2.3   sign a contract to agree to be employed full time in Minnesota 
  2.4   for a period of four years in an eligible profession for which 
  2.5   the student received training, to begin no later than the March 
  2.6   following completion of the student's training. 
  2.7      Subd. 4.  [LOAN FORGIVENESS.] The office may accept up to 
  2.8   ... applicants a year for participation in the program.  
  2.9   Applicants are responsible for securing their own loans.  For 
  2.10  each year that a participant serves in an eligible profession in 
  2.11  the state of Minnesota, up to a maximum of four years, the 
  2.12  office shall annually repay an amount, not to exceed $2,500.  
  2.13  Participants who move from one place of employment to another, 
  2.14  in an eligible profession, and within the state of Minnesota, 
  2.15  remain eligible for loan repayment. 
  2.16     Subd. 5.  [PENALTY FOR NONFULFILLMENT.] If a participant 
  2.17  does not fulfill the service commitment required under 
  2.18  subdivision 3 for repayment of loans, the office shall collect 
  2.19  from the participant 100 percent of payments made and interest 
  2.20  at a rate established according to Minnesota Statutes, section 
  2.21  270.75.  The office shall deposit the collections in the general 
  2.22  fund.  The office may grant a waiver for all or part of the 
  2.23  money owed as a result of the nonfulfillment penalty if 
  2.24  emergency circumstances prevented fulfillment of the required 
  2.25  service commitment. 
  2.26     Subd. 6.  [RULES.] The office may adopt rules to implement 
  2.27  this section. 
  2.28     Sec. 2.  [APPROPRIATION.] 
  2.29     $....... is appropriated from the general fund to the 
  2.30  higher education services office for the purpose of section 1, 
  2.31  to be available until June 30, 2003.