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92_HB2223
LRB9207046NTsb
1 AN ACT regarding higher education student assistance.
2 Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
4 Section 5. The Higher Education Student Assistance Act
5 is amended by adding Section 65.65 as follows:
6 (110 ILCS 5/65.65 new)
7 Sec. 65.65. Digital Government Loan Forgiveness Program.
8 The Digital Government Loan Forgiveness Program is created.
9 The Commission shall implement and administer the Program.
10 Under the Program, 15% of the total amount of higher
11 education student loans of a person shall be forgiven upon
12 completion of one year of full-time employment with the State
13 in an information technology field, with the percentage of
14 loan forgiveness being increased by 5% a year for each year
15 thereafter of full-time State employment in an information
16 technology field. However, the total percentage of loan
17 forgiveness awarded to a person under this Program shall not
18 exceed 30%. The Commission may adopt any rules necessary to
19 carry out its responsibilities under this Section.
20 Section 99. Effective date. This Act takes effect on
21 July 1, 2001.