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SF 2144

as introduced - 90th Legislature (2017 - 2018) Posted on 03/16/2017 09:35am

KEY: stricken = removed, old language.
underscored = added, new language.

Current Version - as introduced

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A bill for an act
relating to higher education; providing loan forgiveness to individuals teaching in
agricultural education; appropriating money; proposing coding for new law in
Minnesota Statutes, chapter 136A.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1.

new text begin [136A.1794] AGRICULTURAL EDUCATION LOAN FORGIVENESS
PROGRAM.
new text end

new text begin Subdivision 1. new text end

new text begin Definitions. new text end

new text begin (a) For purposes of this section, the terms in this subdivision
have the meanings given.
new text end

new text begin (b) "Qualified education loan" means a government, commercial, or foundation loan for
actual costs paid for tuition, reasonable education expenses, and reasonable living expenses
related to the graduate or undergraduate education of a qualified teacher.
new text end

new text begin (c) "Qualified teacher" means a teacher licensed under chapter 122A who:
new text end

new text begin (1) is employed in a nonadministrative position teaching agricultural education in any
grade from grades 5 through 12 at a Minnesota school during the current year; and
new text end

new text begin (2) has completed an undergraduate or graduate program in agricultural education at a
college or university approved by the state of Minnesota to prepare persons for teacher
licensure.
new text end

new text begin (d) "School" means the following:
new text end

new text begin (1) a school or program operated by a school district or a group of school districts;
new text end

new text begin (2) a tribal contract school eligible to receive aid according to section 124D.83;
new text end

new text begin (3) a charter school; or
new text end

new text begin (4) a private school.
new text end

new text begin Subd. 2. new text end

new text begin Account; appropriation. new text end

new text begin An agricultural education loan forgiveness account
is established in the special revenue fund to provide qualified teachers with financial
assistance to repay qualified education loans. Money in the account, including interest, is
appropriated to the commissioner for purposes of this section.
new text end

new text begin Subd. 3. new text end

new text begin Eligibility. new text end

new text begin To be eligible to participate in the loan forgiveness program under
this section, an individual must:
new text end

new text begin (1) be a qualified teacher;
new text end

new text begin (2) have qualified education loans; and
new text end

new text begin (3) submit an application to the commissioner in the form and manner prescribed by the
commissioner.
new text end

new text begin Subd. 4. new text end

new text begin Loan forgiveness. new text end

new text begin (a) The commissioner may select eligible applicants each
year for participation in the agricultural education loan forgiveness program, within the
limits of available funding. Applicants are responsible for securing their own qualified
education loans.
new text end

new text begin (b) The commissioner must make annual disbursements directly to the eligible participant
of $3,000 or the balance of the participant's qualified education loans, whichever is less,
for each year that the participant meets the eligibility requirements under subdivision 3, up
to a maximum of five years.
new text end

new text begin (c) The participant must provide the commissioner with verification that the full amount
of the loan repayment disbursement received by the participant has been applied toward the
designated qualified education loan. After each disbursement, verification must be received
by the commissioner and approved before the next repayment disbursement is made.
new text end

Sec. 2. new text beginLOAN FORGIVENESS; APPROPRIATION.
new text end

new text begin $500,000 in fiscal year 2018 and $500,000 in fiscal year 2019 are transferred from the
general fund to the commissioner of the Office of Higher Education for deposit in the
agricultural education loan forgiveness account.
new text end