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