Illinois General Assembly - Full Text of Public Act 094-1056

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Public Act 094-1056

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Public Act 1056 94TH GENERAL ASSEMBLY

Public Act 094-1056

SB2225 Enrolled LRB094 15510 NHT 50709 b

    AN ACT concerning education.

    Be it enacted by the People of the State of Illinois,
represented in the General Assembly:

    Section 5. The Higher Education Student Assistance Act is
amended by adding Section 39 as follows:

    (110 ILCS 947/39 new)
    Sec. 39. Monetary Award Program Plus.
    (a) The Commission shall receive and consider applications
for monetary grant assistance under this Section to benefit
those students who will not receive Monetary Award Program
grants awarded in accordance with Section 35 of this Act, but
who will benefit from assistance in paying for the costs of
attendance at institutions of higher learning. Subject to a
separate appropriation for this purpose and sufficient revenue
from the sale of student loan assets, transaction processing,
or refinancing, an applicant is eligible for a Monetary Award
Program Plus grant under this Section if the Commission finds
that the applicant meets all of the following qualifications:
        (1) He or she is a resident of this State and a citizen
    or permanent resident of the United States.
        (2) He or she is enrolled at least half-time as a
    sophomore, junior, or senior at a MAP-eligible
    institution, as defined under the Monetary Award Program.
        (3) He or she will not receive in the same academic
    year a Monetary Award Program grant under Section 35 of
    this Act.
        (4) He or she is from a family that had an adjusted
    gross income, listed on the Free Application for Federal
    Student Aid, of less than $200,000 for the 2005 taxable
    year.
    (b) All grants under this Section are applicable only to
tuition and mandatory fee costs. The Commission shall determine
the grant amount for each student, which amount must not exceed
$500 per year or $250 per semester and must not exceed tuition
and mandatory fees net of State and federal financial aid.
    (c) Grants under this Section may be awarded only for the
Fall 2006 and Spring 2007 semesters.
    (d) The Commission shall pay Monetary Award Program Plus
grant awards to eligible students by application date, on a
first-come, first-served basis.
    (e) The Commission, in determining the number of Monetary
Award Program Plus grants to be awarded, shall utilize whatever
appropriate data is available and shall notify applicants that
grant assistance is contingent upon the availability of
appropriated funds.
    (f) The Commission shall determine if sufficient funds are
available from the sale of student loan assets, transaction
processing, or refinancing to continue Monetary Award Program
Plus beyond the Spring 2007 semester and shall prepare a report
for the Governor and General Assembly indicating whether
funding is available and how it can be used to support the
program.

    Section 99. Effective date. This Act takes effect July 1,
2006.

Effective Date: 7/31/2006

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