SENATE 2nd Reading Unamended March 18, 2004 HOUSE 3rd Reading Unamended February 17, 2004 HOUSE 2nd Reading Unamended February 16, 2004Second Regular Session Sixty-fourth General Assembly STATE OF COLORADO REVISED This Version Includes All Amendments Adopted on Second Reading in the Second House LLS NO. 04-0117.01 Michele Hanigsberg HOUSE BILL 04-1039 HOUSE SPONSORSHIP Spence, SENATE SPONSORSHIP McElhany, House Committees Senate Committees Education Education Appropriations Appropriations A BILL FOR AN ACT Concerning the expansion of the teacher loan forgiveness pilot program to include a teacher who is hired to teach in a qualified position after his or her first year of teaching. Bill Summary (Note: This summary applies to this bill as introduced and does not necessarily reflect any amendments that may be subsequently adopted.) Beginning in the 2004-05 academic year, extends the teacher loan forgiveness pilot program to allow for payment of all or part of the principal and interest of the educational loans of a teacher who changes to and is hired for a qualified position, teaching math, science, special education, or linguistically diverse education, regardless of how long the teacher has been teaching. Be it enacted by the General Assembly of the State of Colorado: SECTION 1. 23-3.9-102 (1) (a) and (2) (d), Colorado Revised Statutes, are amended to read: 23-3.9-102. Teacher loan forgiveness pilot program - administration - fund - conditions. (1) (a) The general assembly hereby authorizes the commission to develop and maintain a teacher loan forgiveness pilot program for implementation beginning in the 2001-02 academic year for payment of all or part of the principal and interest of the educational loans of each a first-year teacher who is hired for a qualified position. Beginning in the 2004-05 academic year, the commission is authorized to extend the teacher loan forgiveness pilot program to include payment of all or part of the principal and interest of the educational loans of a teacher who is hired to teach in a qualified position after the teacher's first year of teaching. Repayment of loans through the teacher loan forgiveness pilot program may be made using moneys in the teacher loan forgiveness fund, created in paragraph (b) of this subsection (1), or moneys allocated to the program by the Colorado student obligation bond authority. The commission is authorized to receive and expend gifts, grants, and donations for the teacher loan forgiveness pilot program. Only graduates of institutions of higher education whose loans have Colorado student obligation bond authority eligibility may receive repayment of their loans using moneys allocated to the program by the Colorado student obligation bond authority. (2) In addition to any qualifications specified by the commission, to qualify for the teacher loan forgiveness pilot program, a teacher shall: (d) (I) Contract for the teacher's first year of teaching in a qualified position no earlier than June 2001, and no later than the end of the 2005-06 academic year; or (II) If the teacher is not a first-year teacher, contract to teach in a qualified position no earlier than June 2004, and no later than the end of the 2005-06 academic year. SECTION 2. Safety clause. The general assembly hereby finds, determines, and declares that this act is necessary for the immediate preservation of the public peace, health, and safety.