HB 265: "An Act relating to student financial assistance; and providing for an effective date."

00HOUSE BILL NO. 265 01 "An Act relating to student financial assistance; and providing for an effective 02 date." 03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 04 * Section 1. AS 14.43 is amended by adding a new section to read: 05  Sec. 14.43.950. EMPLOYMENT CONDITION FOR PARTICIPANTS IN 06 MEDICAL PROGRAMS. As a condition of eligibility for receiving a tuition 07 differential subsidy under a medical program offered by the Western Interstate 08 Commission for Higher Education or the Alaska Commission on Postsecondary 09 Education under AS 14.42.030(d), a medical program participant shall agree to be 10 employed in the state for a period of at least six months for each school year of 11 participation in the program for which there is a tuition differential subsidy. A person 12 who graduates from the medical program and who does not meet the employment 13 requirements of this section within six years after completing the person's subsidized 14 medical education program shall pay to the state 50 percent of the tuition differential

01 subsidy received by the person plus interest at the rate provided for scholarship loans 02 under AS 14.43.120(f). Interest under this section begins to accrue one year after the 03 person completes the subsidized medical education program. 04 * Sec. 2. APPLICABILITY. AS 14.43.950, added by sec. 1 of this Act, applies to a 05 person who begins a medical education program and who receives a tuition differential 06 subsidy on or after January 1, 1994. 07 * Sec. 3. This Act takes effect July 1, 1993.