04/08/1994 05:30 PM House FIN

  HB 506    An Act relating to student loans; to sanctions for                 
            defaulting  on a student loan, including denial of                 
            a state  occupational license  or disbursement  of                 
            state money; and providing for an effective date.                  
                                                                               
            CS HB 506 (FIN) was reported out of Committee with                 
            "no recommendations" and with a fiscal note by the                 
            Department of Education.                                           
  HOUSE BILL 506                                                               
                                                                               
       "An Act  relating to  student loans;  to sanctions  for                 
       defaulting on  a student  loan, including  denial of  a                 
       state  occupational license  or  disbursement of  state                 
       money; and providing for an effective date."                            
                                                                               
  Representative Brown  MOVED to adopt Amendment #1.  [Copy on                 
  file].                                                                       
                                                                               
                                                                               
                                2                                              
                                                                               
                                                                               
  REPRESENTATIVE  CON  BUNDE   commented  that  Amendment   #1                 
  addresses concerns regarding  limiting administrative  costs                 
  to three percent.  He noted that he supported the amendment.                 
                                                                               
                                                                               
  There being  NO OBJECTION to  adopting Amendment #1,  it was                 
  adopted.                                                                     
                                                                               
  Representative Brown  MOVED  TO RESCIND  previous action  on                 
  Amendment #2.                                                                
                                                                               
  There being NO OBJECTION, the action was rescinded.                          
                                                                               
  DAN AUSTIN, STAFF, REPRESENTATIVE KAY  BROWN, explained that                 
  the new Amendment #2 would clarify  that action may be taken                 
  no sooner than sixty days after  the commission has notified                 
  the borrower of a default status on the loan.                                
                                                                               
  Representative Brown MOVED  to adopt  the new Amendment  #2.                 
  There being NO OBJECTION, it was adopted.                                    
                                                                               
  Representative Parnell  MOVED to report CS HB  506 (FIN) out                 
  of  Committee with individual  recommendations and  with the                 
  accompanying fiscal note.  There  being NO OBJECTION, it was                 
  so ordered.                                                                  
                                                                               
  CS HB 506  (FIN) was  reported out of  Committee with a  "no                 
  recommendation" and with  a fiscal note by the Department of                 
  Education.