CSHB 235(EDC): "An Act relating to professional student exchange program availability and conditions for loan forgiveness."
00 CS FOR HOUSE BILL NO. 235(EDC) 01 "An Act relating to professional student exchange program availability and conditions 02 for loan forgiveness." 03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 04 * Section 1. AS 14.44.025 is amended by adding a new subsection to read: 05 (b) Notwithstanding the funding priorities established under (a) of this section, 06 the Alaska Commission on Postsecondary Education shall provide adequate funding 07 for not fewer than five students to attend four-year programs in each of the following 08 fields: 09 (1) dentistry; 10 (2) optometry; and 11 (3) pharmacy. 12 * Sec. 2. AS 14.44.035 is amended to read: 13 Sec. 14.44.035. Administration. The Alaska Commission on Postsecondary 14 Education shall administer the state's participation in the Western Regional Higher
01 Education Compact. The Alaska Commission on Postsecondary Education may adopt 02 regulations to implement AS 14.44.010 - 14.44.041 [AS 14.44.010 - 14.44.040]. 03 * Sec. 3. AS 14.44.040(a) is amended to read: 04 (a) As a condition of eligibility for receiving financial support from the state 05 under the Professional Student Exchange Program of the Western Interstate 06 Commission for [ON] Higher Education, a program participant shall agree to repay to 07 the state the support provided by the state on behalf of that person. Except as 08 otherwise provided in this chapter, the terms of loan repayment must be 09 consistent with the terms provided under AS 14.43.510 [, PLUS INTEREST]. 10 * Sec. 4. AS 14.44 is amended by adding a new section to article 1 to read: 11 Sec. 14.44.041. Loan forgiveness for program participants. (a) If money has 12 been appropriated for the purpose, the Alaska Commission on Postsecondary 13 Education shall annually, for not more than five years, forgive five percent of the 14 outstanding principal on a loan made under the Professional Student Exchange 15 Program of the Western Interstate Commission for Higher Education if the participant 16 (1) is a resident of the state; 17 (2) practices in the state in a field of study listed in AS 14.44.025(b) 18 for not less than 750 hours during the year; and 19 (3) maintains the participant's license in good standing in the state. 20 (b) If money has been appropriated for the purpose, and as an alternative to 21 loan forgiveness benefits provided under (a) of this section, the Alaska Commission 22 on Postsecondary Education shall annually, for not more than five years, forgive 10 23 percent of the outstanding principal on a loan made under the Professional Student 24 Exchange Program of the Western Interstate Commission for Higher Education if the 25 participant 26 (1) is a resident of the state; 27 (2) practices in the state in a field of study described in 28 AS 14.44.025(b) for not less than 750 hours during the year; 29 (3) is in a practice that serves an underserved population 30 (A) in a geographical area the commissioner of health and 31 social services has designated as underserved; or
01 (B) by serving patients who are covered under the medical 02 assistance program as provided in AS 47.07, if billings for services provided to 03 those patients are not less than five percent of the average gross billings 04 submitted by the practice for the year; and 05 (4) maintains the participant's professional license in good standing in 06 the state. 07 (c) A participant may receive aggregate loan forgiveness benefits in an 08 amount that is not more than 50 percent of the original principal on a loan made under 09 the Professional Student Exchange Program of the Western Interstate Commission for 10 Higher Education.