Illinois General Assembly - Bill Status for SB1455

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Bill Status of SB1455 95th General Assembly

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Short Description: HIGHER ED REVOLVING LOAN PROG

Senate Sponsors
Sen. Martin A. Sandoval

Last Action

Date	Chamber	Action
1/13/2009	Senate	Session Sine Die

Statutes Amended In Order of Appearance

30 ILCS 105/5.675 new

110 ILCS 947/65.85 new

Synopsis As Introduced
Amends the Higher Education Student Assistance Act and the State Finance Act. Requires the Illinois Student Assistance Commission to implement and administer a higher education revolving loan program to provide nominal interest loans for the costs of attending a public or private institution of higher education in this State. Provides that the loans must be made to high performance students and may not exceed $10,000 per person per academic year. Contains provisions concerning repayment. Creates the Higher Education Revolving Loan Fund as a special fund in the State treasury. Effective July 1, 2007.

Senate Floor Amendment No. 1

	Deletes reference to:
	30 ILCS 105/5.675 new

Deletes everything after the enacting clause. Amends the Higher Education Student Assistance Act. Requires the Illinois Student Assistance Commission, subject to appropriation, to implement and administer a higher education revolving loan program to provide loans to eligible students for the costs of attending an institution of higher learning in this State. Provides that the loans must be offered at a low interest rate to be determined by the Commission. Provides that an individual may not receive loans in excess of $5,000 or the student's tuition and mandatory fees, whichever is less, per academic year. Provides that loan funds must be paid directly to the institution of higher learning. Provides that the repayment period for a loan may not exceed 15 years. Contains other provisions concerning repayment. Effective July 1, 2007.

Senate Floor Amendment No. 2

	Adds reference to:
	30 ILCS 105/5.675 new

Deletes everything after the enacting clause. Reinserts the contents of the bill as amended by Senate Amendment No. 1, with the following changes. Amends the State Finance Act to create the Higher Education Revolving Loan Fund as a special fund in the State treasury. Provides that all repayments of loans under the amendatory provisions shall be deposited into the Fund. Provides that all money in the Fund shall be used, subject to appropriation, by the Commission for making loans under the amendatory provisions.

Actions

Date	Chamber	Action
2/9/2007	Senate	Filed with Secretary by Sen. Martin A. Sandoval
2/9/2007	Senate	First Reading
2/9/2007	Senate	Referred to Rules
2/21/2007	Senate	Assigned to Higher Education
3/8/2007	Senate	Do Pass Higher Education; 007-004-000
3/8/2007	Senate	Placed on Calendar Order of 2nd Reading March 13, 2007
3/20/2007	Senate	Senate Floor Amendment No. 1 Filed with Secretary by Sen. Martin A. Sandoval
3/20/2007	Senate	Senate Floor Amendment No. 1 Referred to Rules
3/21/2007	Senate	Senate Floor Amendment No. 1 Rules Refers to Higher Education
3/22/2007	Senate	Senate Floor Amendment No. 1 Recommend Do Adopt Higher Education; 006-002-000
3/27/2007	Senate	Second Reading
3/27/2007	Senate	Senate Floor Amendment No. 1 Adopted; Sandoval
3/27/2007	Senate	Placed on Calendar Order of 3rd Reading March 28, 2007
3/30/2007	Senate	Rule 2-10 Third Reading Deadline Established As May 31, 2007
4/19/2007	Senate	Senate Floor Amendment No. 2 Filed with Secretary by Sen. Martin A. Sandoval
4/19/2007	Senate	Senate Floor Amendment No. 2 Referred to Rules
4/25/2007	Senate	Senate Floor Amendment No. 2 Rules Refers to Higher Education
4/26/2007	Senate	Senate Floor Amendment No. 2 Recommend Do Adopt Higher Education; 006-000-002
5/10/2007	Senate	Recalled to Second Reading
5/10/2007	Senate	Senate Floor Amendment No. 2 Adopted; Sandoval
5/10/2007	Senate	Placed on Calendar Order of 3rd Reading
5/10/2007	Senate	Verified
5/10/2007	Senate	Third Reading - Consideration Postponed
5/10/2007	Senate	Placed on Calendar - Consideration Postponed May 15, 2007
5/31/2007	Senate	Rule 2-10 Third Reading Deadline Established As December 31, 2007
12/3/2007	Senate	Pursuant to Senate Rule 3-9(b) / Referred to Rules
5/31/2008	Senate	Rule 2-10 Third Reading Deadline Established As January 13, 2009
1/13/2009	Senate	Session Sine Die

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