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H0703..........................................................by EDUCATION
COLLEGE LOAN PROGRAM - Adds to existing law relating to postsecondary
education loans to state legislative intent; to create an Idaho Opportunity
Loan Program; to provide for procedures; to create an Idaho Opportunity
Loan Fund in the state treasury with a one time appropriation of five
million dollars; and to define terms.
02/20 House intro - 1st rdg - to printing
02/21 Rpt prt - to Educ
03/06 Rpt out - rec d/p - to 2nd rdg
03/07 2nd rdg - to 3rd rdg
03/10 3rd rdg - FAILED - 27-38-5
AYES -- Barraclough, Block, Boe, Brackett, Cannon, Chadderdon,
Collins, Ellsworth, Henbest, Jaquet, Kemp, LeFavour, Martinez,
Miller, Mitchell, Nielsen, Pasley-Stuart, Pence, Ring, Ringo, Rusche,
Sayler, Shirley, Smith(30), Smith(24), Smylie, Trail
NAYS -- Anderson, Andrus, Barrett, Bastian, Bayer, Bedke, Bell,
Bilbao, Black, Bolz, Bradford, Clark, Crow, Denney, Edmunson,
Eskridge, Field(18), Field(23), Garrett, Hart, Harwood, Henderson,
Lake, Loertscher, Mathews, McGeachin, McKague, Moyle, Nonini,
Raybould, Roberts, Schaefer, Shepherd(2), Skippen, Snodgrass,
Stevenson, Wills, Mr. Speaker
Absent and excused -- Deal, Rydalch, Sali, Shepherd(8), Wood
Floor Sponsor - Trail
Filed in Office of the Chief Clerk
]]]] LEGISLATURE OF THE STATE OF IDAHO ]]]]
Fifty-eighth Legislature Second Regular Session - 2006
IN THE HOUSE OF REPRESENTATIVES
HOUSE BILL NO. 703
BY EDUCATION COMMITTEE
1 AN ACT
2 RELATING TO POSTSECONDARY EDUCATION LOANS; AMENDING CHAPTER 43, TITLE 33,
3 IDAHO CODE, BY THE ADDITION OF A NEW SECTION 33-4316, IDAHO CODE, TO STATE
4 LEGISLATIVE INTENT, TO CREATE AN IDAHO OPPORTUNITY LOAN PROGRAM, TO PRO-
5 VIDE FOR PROCEDURES, TO CREATE AN IDAHO OPPORTUNITY LOAN FUND IN THE STATE
6 TREASURY WITH A ONE TIME APPROPRIATION OF FIVE MILLION DOLLARS AND TO
7 DEFINE TERMS.
8 Be It Enacted by the Legislature of the State of Idaho:
9 SECTION 1. That Chapter 43, Title 33, Idaho Code, be, and the same is
10 hereby amended by the addition thereto of a NEW SECTION, to be known and des-
11 ignated as Section 33-4316, Idaho Code, and to read as follows:
12 33-4316. IDAHO OPPORTUNITY LOAN PROGRAM. (1) Many of Idaho's students
13 from low-income families are unable to attend Idaho postsecondary institu-
14 tions. Existing loan programs cannot provide the funding necessary to assist
15 all such low-income students who qualify. As a result, Idaho is not providing
16 postsecondary educational opportunities to many students who simply lose the
17 chance to improve themselves and provide a greater contribution to Idaho by
18 attending an Idaho postsecondary institution. It is legislative intent that
19 the creation of a permanent fund to provide loans to low-income Idaho students
20 will help remediate this problem.
21 (2) There is hereby created the Idaho opportunity loan program. An eligi-
22 ble student may apply to the board for an Idaho opportunity loan to meet the
23 costs necessary for attendance at an eligible postsecondary institution.
24 (3) The board shall implement and administer this loan program and shall
25 promulgate rules necessary to do so, including rules for:
26 (a) Processing and approving loan applications from eligible students;
27 (b) Determining, based on available funding, the number of Idaho opportu-
28 nity loans based upon need to be granted each academic year, the terms of
29 each such loan and the amount of each such loan; and
30 (c) Monitoring the progress of the eligible student in that student's
31 academic performance to ensure that the student maintains enrollment at an
32 eligible postsecondary institution on a full-time or part-time basis, pro-
33 vided however, that for good cause shown, the board may permit the student
34 to suspend the student's study for up to two (2) years.
35 (4) The Idaho opportunity loan fund is hereby created in the state trea-
36 sury. Income from the fund shall be used to fund the Idaho opportunity loan
37 program. The fund principal shall consist of appropriations, gifts, grants,
38 donations and income from fund investments and interest. The legislature shall
39 appropriate five million dollars ($5,000,000) for fiscal year 2007 to the
40 fund. Moneys in the fund shall not revert to any other fund at the end of the
41 fiscal year.
42 (5) The following definitions shall apply to this section:
43 (a) "Board" means the state board of education.
2
1 (b) "Eligible postsecondary institution" means an Idaho public post-
2 secondary organization governed or supervised by the state board of educa-
3 tion, the board of regents of the university of Idaho, a board of trustees
4 of a community college established pursuant to the provisions of section
5 33-2106, Idaho Code, or the state board for professional-technical educa-
6 tion or any educational organization located in Idaho which is operated
7 privately and not for profit under the control of an independent board and
8 not directly controlled or administered by a public or political subdivi-
9 sion.
10 (c) "Eligible student" means a student who has graduated from an Idaho
11 secondary school and whose family income meets the percentage of the fed-
12 eral poverty level that the board has determined to qualify for an Idaho
13 opportunity loan.
STATEMENT OF PURPOSE
RS 15924C2
This legislation relates to post-secondary education loans;
amending Chapter 43, Title 33, Idaho Code, by the addition of a new
Section 33-43, Idaho Code, to state legislative intent, to create
an Idaho Opportunity Loan Program, to provide for procedures, to
create an Idaho Needs-Based Loan Fund in the State Treasury with a
one time appropriation of five million dollars and to define terms.
FISCAL NOTE
There will be a one time impact of five million dollars on the
state treasury.
Contacts
Name: Representative Tom Trail
Phone: (208) 332-1000
Representatives Jana Kemp, Mack Shirley, Shirley Ringo, Anne
Pasley-Stuart
Senator Tom Gannon
STATEMENT OF PURPOSE/FISCAL NOTE H 703