SF 3500

as introduced - 92nd Legislature (2021 - 2022) Posted on 03/08/2022 10:12am

A bill for an act
relating to education finance; creating a grant program to provide funding for a
onetime payment for any teacher with an educational loan; appropriating money;
amending Minnesota Statutes 2021 Supplement, section 136A.1791, by adding a
subdivision.

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

Section 1.

Minnesota Statutes 2021 Supplement, section 136A.1791, is amended by adding
a subdivision to read:

new text begin Subd. 5a. new text end

new text begin Onetime loan forgiveness for teachers. new text end

new text begin (a) In addition to the amounts in
subdivision 5, any teacher, whether or not the teacher is in a license shortage area, may
submit an application for a onetime payment not to exceed $2,000 for qualified educational
loan forgiveness. The teacher must apply for the loan forgiveness grant in the form and
manner specified by the commissioner.
new text end

new text begin (b) This subdivision expires June 30, 2024.
new text end

Sec. 2. new text begin APPROPRIATION; TEACHER LOAN FORGIVENESS.
new text end

new text begin Subdivision 1. new text end

new text begin Department of Education. new text end

new text begin The sum indicated in this section is
appropriated from the general fund to the Department of Education in the fiscal year
designated.
new text end

new text begin Subd. 2. new text end

new text begin Teacher loan forgiveness. new text end

new text begin (a) For transfer to the teacher shortage loan
repayment account in the special revenue fund under Minnesota Statutes, section 136A.1791,
subdivision 8, administered by the Office of Higher Education:
new text end

new text begin $ new text end

new text begin ....... new text end

new text begin ..... new text end

new text begin 2023 new text end

new text begin (b) This is a onetime appropriation.
new text end