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AB-234 Student financial aid: Assumption Program of Loans for Education.(2017-2018)

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Date Published: 01/26/2017 09:00 PM
AB234:v99#DOCUMENT

Revised  March 22, 2017

CALIFORNIA LEGISLATURE— 2017–2018 REGULAR SESSION

Assembly Bill No. 234


Introduced by Assembly Member Steinorth
(Coauthors: Assembly Members Chávez, Cunningham, Lackey, Mathis, Voepel, Gallagher, Maienschein, and Salas)
(Coauthors: Senators Anderson and Vidak)

January 26, 2017


An act to amend Section 69615.8 of the Education Code, relating to student financial aid, making an appropriation therefor, and declaring the urgency thereof, to take effect immediately.


LEGISLATIVE COUNSEL'S DIGEST


AB 234, as introduced, Steinorth. Student financial aid: Assumption Program of Loans for Education.
Existing law establishes the Assumption Program of Loans for Education, administered by the Student Aid Commission, under which any person enrolled in an eligible institution of postsecondary education, as defined, or any person who agrees to participate in a teacher trainee or teacher internship program, is eligible to enter into an agreement for loan assumption, to be redeemed pursuant to a prescribed procedure upon becoming employed as a teacher in an eligible school, as defined, if he or she satisfies certain conditions.
This bill would express the intent of the Legislature to restore the funding for the Assumption Program of Loans for Education to its 2011–12 fiscal year level. The bill would require the commission to award 7,200 new warrants for the assumption of loans under the program in the 2017–18 fiscal year. The bill would appropriate $5,000,000 from the General Fund to the commission for the funding of warrants for the assumption of loans under the program for the 2017–18 fiscal year.
This bill would declare that it is to take effect immediately as an urgency statute.
Vote: 2/3   Appropriation: YES   Fiscal Committee: YES   Local Program: NO  

The people of the State of California do enact as follows:


SECTION 1.

 It is the intent of the Legislature to restore the funding for the Assumption Program of Loans for Education (APLE) to its 2011–12 fiscal year level.

SEC. 2.

 Section 69615.8 of the Education Code is amended to read:

69615.8.
 Notwithstanding any other law, in any the 2017–18 fiscal year, the commission shall award no more than the number of loan assumption agreements that are authorized by the Governor and the Legislature in the annual Budget Act for that year 7,200 new warrants for the assumption of loans pursuant to this article.

SEC. 3.

 The sum of five million dollars ($5,000,000) is hereby appropriated from the General Fund to the Student Aid Commission for the funding of warrants for the assumption of loans under the Assumption Program of Loans for Education (Article 5 (commencing with Section 69612) of Chapter 2 of Part 42 of Division 5 of Title 3 of the Education Code) for the 2017–18 fiscal year.

SEC. 4.

 This act is an urgency statute necessary for the immediate preservation of the public peace, health, or safety within the meaning of Article IV of the California Constitution and shall go into immediate effect. The facts constituting the necessity are:
In order for the Assumption Program of Loans for Education to be adequately funded for the 2017–18 fiscal year, it is necessary that this act take effect immediately.
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REVISIONS:
Heading—Line 3.
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