Full Text of HB0024 101st General Assembly
HB0024 101ST GENERAL ASSEMBLY |
| | 101ST GENERAL ASSEMBLY
State of Illinois
2019 and 2020 HB0024 Introduced 1/9/2019, by Rep. Mary E. Flowers SYNOPSIS AS INTRODUCED: |
| New Act | | 30 ILCS 105/5.891 new | |
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Creates the Not-For-Profit Organization Minority Employee Assistance Act. Defines terms. Requires the Illinois Student Assistance Commission to establish and administer the Not-For-Profit Organization Minority Employee Loan Repayment Assistance Program for the primary purpose of providing loan repayment assistance to minority employees to encourage minorities to pursue careers with not-for-profit organizations; provides for the Program's eligibility requirements. Provides that the maximum amount of loan repayment assistance for each Program participant shall be $5,000 per year, up to a maximum of $25,000 during the participant's career; provides for the manner of fund distribution. Provides that if a Program participant becomes ineligible during the term of a loan, he or she must repay the outstanding amount of any loan received from the Commission. Amends the State Finance Act to create the Not-For-Profit Organization Minority Employee Loan Repayment Assistance Fund as a special fund in the State treasury.
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| | A BILL FOR |
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| 1 | | AN ACT concerning education.
| 2 | | Be it enacted by the People of the State of Illinois,
| 3 | | represented in the General Assembly:
| 4 | | Section 1. Short title. This Act may be cited as the | 5 | | Not-For-Profit Organization Minority Employee Assistance Act. | 6 | | Section 5. Definitions. In this Act: | 7 | | "Commission" means the Illinois Student Assistance | 8 | | Commission. | 9 | | "Eligible debt" means outstanding principal, interest, and | 10 | | related fees from loans obtained for undergraduate or graduate | 11 | | educational expenses made by government or commercial lending | 12 | | institutions or educational institutions. "Eligible debt" | 13 | | excludes loans made by a private individual or family member. | 14 | | "Minority employee" means a person employed by a | 15 | | not-for-profit organization who is a citizen or lawful | 16 | | permanent resident of the United States and who is any of the | 17 | | following: | 18 | | (1) American Indian or Alaska Native (a person having | 19 | | origins in any of the original peoples of North and South | 20 | | America, including Central America, and who maintains | 21 | | tribal affiliation or community attachment). | 22 | | (2) Asian (a person having origins in any of the | 23 | | original peoples of the Far East, Southeast Asia, or the |
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| 1 | | Indian subcontinent, including, but not limited to, | 2 | | Cambodia, China, India, Japan, Korea, Malaysia, Pakistan, | 3 | | the Philippine Islands, Thailand, and Vietnam). | 4 | | (3) Black or African American (a person having origins | 5 | | in any of the black racial groups of Africa). Terms such as | 6 | | "Haitian" or "Negro" can be used in addition to "Black or | 7 | | African American". | 8 | | (4) Hispanic or Latino (a person of Cuban, Mexican, | 9 | | Puerto Rican, South or Central American, or other Spanish | 10 | | culture or origin, regardless of race). | 11 | | (5) Native Hawaiian or Other Pacific Islander (a person | 12 | | having origins in any of the original peoples of Hawaii, | 13 | | Guam, Samoa, or other Pacific Islands). | 14 | | "Not-for-profit organization" means an organization | 15 | | organized and conducted on a not-for-profit basis with no | 16 | | personal profit inuring to anyone as a result of the operation. | 17 | | "Program" means the Not-For-Profit Organization Minority | 18 | | Employee Loan Repayment Assistance Program created under this | 19 | | Act. | 20 | | "Organization" means a corporation, agency, partnership, | 21 | | association, firm, business, or other entity consisting of 2 or | 22 | | more persons joined by a common interest or purpose. | 23 | | Section 10. Not-For-Profit Organization Minority Employee | 24 | | Loan Repayment Assistance Program. | 25 | | (a) The Commission shall establish and administer the |
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| 1 | | Program for the primary purpose of providing loan repayment | 2 | | assistance to minority employees to encourage minorities to | 3 | | pursue careers with not-for-profit organizations. | 4 | | (b) Subject to appropriation and any requirements under | 5 | | this Act, the Commission shall distribute funds to eligible | 6 | | applicants. The Commission shall, each year, consider | 7 | | applications made by eligible minority employees for loan | 8 | | repayment assistance under the Program. The Commission shall | 9 | | distribute funds to an applicant if the Commission finds that | 10 | | the applicant satisfies all of the following criteria: | 11 | | (1) He or she has eligible debt in grace or repayment | 12 | | status. | 13 | | (2) He or she is a minority employee in this State. | 14 | | The Commission shall develop criteria for prioritization | 15 | | among eligible applicants if there are insufficient funds | 16 | | available to make payments to all eligible applicants under | 17 | | this Act. The prioritization criteria shall include the | 18 | | timeliness of the application, the applicant's salary level, | 19 | | the amount of the applicant's eligible debt, the availability | 20 | | of other loan repayment assistance to the applicant, the | 21 | | applicant's length of service as a minority employee, and the | 22 | | applicant's prior participation in the Program. | 23 | | (c) The maximum amount of loan repayment assistance for | 24 | | each Program participant shall be $5,000 per year, up to a | 25 | | maximum of $25,000 during the participant's career. The | 26 | | distribution of funds available after administrative costs |
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| 1 | | must be made by the Commission to eligible minority employees | 2 | | in the following manner: | 3 | | (1) Loan repayment assistance must be in the form of a | 4 | | forgivable loan. | 5 | | (2) To have the loan forgiven, the participant shall | 6 | | (i) complete a year of employment with a not-for-profit | 7 | | organization and (ii) make eligible debt payments | 8 | | (interest or principal or both) that equal at least the | 9 | | amount of assistance received under the Program during the | 10 | | assistance year. | 11 | | (3) Each loan must be documented by means of a | 12 | | promissory note executed by the borrower in a form provided | 13 | | by the Commission and shall be forgiven when an eligible | 14 | | participant meets the requirements set forth by the | 15 | | Commission. | 16 | | (d) The Not-For-Profit Organization Minority Employee Loan | 17 | | Repayment Assistance Fund is created as a special fund in the | 18 | | State treasury. The Fund shall consist of all moneys remitted | 19 | | to the Commission under the terms of this Act. All money in the | 20 | | Fund shall be used, subject to appropriation, by the Commission | 21 | | for the purposes of this Act. | 22 | | (e) The Commission may adopt any rules necessary to | 23 | | implement this Act. | 24 | | Section 15. Ineligibility and termination of funds; | 25 | | procedures. |
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| 1 | | (a) If a Program participant becomes ineligible during the | 2 | | term of a loan, he or she must repay the outstanding amount of | 3 | | any loan received from the Commission. | 4 | | (b) The Commission may in its discretion forgive the loan | 5 | | of a Program participant in whole or in part in certain | 6 | | circumstances as set forth in its written policies and | 7 | | guidelines. | 8 | | Section 20. Other powers. The Commission may make, enter | 9 | | into, and execute contracts, agreements, leases, and other | 10 | | instruments with any person, including, but not limited to, any | 11 | | federal, State, or local governmental agency, and may take | 12 | | other actions that may be necessary or convenient to accomplish | 13 | | any purpose authorized by this Act. | 14 | | Section 95. The State Finance Act is amended by adding | 15 | | Section 5.891 as follows: | 16 | | (30 ILCS 105/5.891 new) | 17 | | Sec. 5.891. The Not-For-Profit Organization Minority | 18 | | Employee Loan Repayment Assistance Fund.
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