Rep. Maurice A. West, II

Filed: 4/25/2023

 

 


 

 


 
10300HB2898ham001LRB103 05261 RJT 60220 a

1
AMENDMENT TO HOUSE BILL 2898

2    AMENDMENT NO. ______. Amend House Bill 2898 by replacing
3everything after the enacting clause with the following:
 
4    "Section 5. The State Finance Act is amended by adding
5Section 5.990 as follows:
 
6    (30 ILCS 105/5.990 new)
7    Sec. 5.990. The MAP Refund Fund.
 
8    Section 10. The Private College Act is amended by adding
9Section 14.15 as follows:
 
10    (110 ILCS 1005/14.15 new)
11    Sec. 14.15. Unfair, misleading, or deceptive practice
12finding; refund; grant.
13    (a) In this Section, "unfair, misleading, or deceptive
14practice" means an act or practice in which a representation,

 

 

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1omission, or practice misleads or is likely to mislead a
2consumer, as determined by the Federal Trade Commission, the
3United States Department of Education, or the United States
4Bureau of Consumer Financial Protection in a court of
5competent jurisdiction.
6    (b) This Section applies to a for-profit, post-secondary
7educational institution that received monetary award program
8funds under Section 35 of the Higher Education Student
9Assistance Act at a time the institution was found to have been
10using an unfair, misleading, or deceptive practice, as defined
11by the Federal Trade Commission, the United States Department
12of Education, or the United States Bureau of Consumer
13Financial Protection, and is required to reimburse students
14for loans taken to pay for the students' education in
15accordance with a final judgment against the institution
16issued by a court of competent jurisdiction, based on acts
17occurring at least 6 months after the effective date of this
18amendatory Act of the 103rd General Assembly. Any monetary
19award program funds paid to the for-profit, post-secondary
20educational institution for students who attended the
21institution during the period of judgment must be refunded to
22the Illinois Student Assistance Commission.
23    (c) If a post-secondary educational institution is
24required to issue a refund to the Illinois Student Assistance
25Commission under this Section, the refund shall be deposited
26into the MAP Refund Fund. The Commission shall use funds

 

 

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1appropriated from the MAP Refund Fund to award grants to
2students as provided in this Section. A post-secondary
3educational institution required to issue a refund to the
4Illinois Student Assistance Commission under this Section must
5notify the Illinois Student Assistance Commission within 30
6days after a final judgment issued by a court of competent
7jurisdiction, and issue the refund within 6 months. A
8for-profit, post-secondary educational institution with a
9judgment against it must notify students who attended the
10post-secondary educational institution during the period of
11judgment and received monetary award program funds,
12electronically and by certified mail, within 6 months after
13issuance of the refund to the Illinois Student Assistance
14Commission.
15    (d) The Commission shall make applications for grants
16under subsection (c) available in the next academic year after
17the deposit of funds into the MAP Refund Fund or as soon as is
18practicable. The application process shall be administered by
19the Commission and shall remain open until no funds remain in
20the MAP Refund Fund, subject to the other provisions of this
21Section.
22    (e) The Commission shall determine the maximum amount of a
23grant that may be provided under this Section in an academic
24year. A grant under this Section may be awarded to a student in
25addition to a monetary award program grant. However, the
26combined amounts of those grants may not exceed the total cost

 

 

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1of tuition and fees for the academic year at the
2post-secondary educational institution at which the student is
3enrolled.
4    (f) Beginning in the third academic year following the
5issuance of refunds under subsection (b), the remaining
6balance in the MAP Refund Fund shall be appropriated to the
7Commission for the Commission's operating budget for the
8monetary award program.
9    (g) The MAP Refund Fund is created as a special fund in the
10State treasury. All money in the Fund shall be used, subject to
11appropriation, by the Commission for the purposes set forth in
12this Section.
 
13    Section 99. Effective date. This Act takes effect upon
14becoming law.".