Date	Chamber	Action
12/3/2014	House	Session Sine Die

Statutes Amended In Order of Appearance

New Act

Synopsis As Introduced
Creates the Higher Education Employee Loan Act. Provides that if a not-for-profit higher education institution located in this State or its foundation makes a loan to an employee or contractor of either the institution or the foundation, then the annual rate of interest must be equal to the prevailing loan interest rate in effect at the time the institution or foundation approves the loan, except that the institution or its foundation may not make a loan to an employee or contractor of either the institution or the foundation for the purpose of purchasing a non-primary residence. Prohibits such an institution or foundation from forgiving a loan made to an employee or contractor of either the institution or the foundation. Requires the Board of Higher Education to adopt enforcement rules, which may include the imposition of a civil penalty. Effective immediately.

Actions 

Date	Chamber	Action
11/7/2013	House	Filed with the Clerk by Rep. Jack D. Franks
11/7/2013	House	First Reading
11/7/2013	House	Referred to Rules Committee
1/28/2014	House	Assigned to Higher Education Committee
2/4/2014	House	Do Pass / Short Debate Higher Education Committee; 013-001-000
2/5/2014	House	Placed on Calendar 2nd Reading - Short Debate
2/19/2014	House	Second Reading - Short Debate
2/19/2014	House	Placed on Calendar Order of 3rd Reading - Short Debate
2/20/2014	House	Third Reading - Short Debate - Passed 083-021-007
2/20/2014	House	Added Chief Co-Sponsor Rep. Esther Golar
2/25/2014	Senate	Arrive in Senate
2/25/2014	Senate	Placed on Calendar Order of First Reading
2/25/2014	Senate	Chief Senate Sponsor Sen. Pat McGuire
2/25/2014	Senate	First Reading
2/25/2014	Senate	Referred to Assignments
12/3/2014	House	Session Sine Die

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