00                            HOUSE BILL NO. 264                                                                          
01 "An Act relating to repayment of Alaska performance scholarships and Alaska                                             
02 education grants."                                                                                                      
03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
04    * Section 1. AS 14.43.920 is amended by adding a new subsection to read:                                           
05            (b)  If a person who receives an Alaska education grant under AS 14.43.400 -                                 
06       14.43.420 or an Alaska performance scholarship award under AS 14.43.810 -                                         
07       14.43.849 fails to complete the qualified postsecondary education program in which                                
08       the person is enrolled within six years after the date of the first payment of funds, the                         
09       person shall repay the amount of the grant or scholarship. The terms and conditions for                           
10       repayment of a loan under AS 14.43.120 apply to repayment of a grant or scholarship                               
11       under this subsection, except that interest begins to accrue on the grant or scholarship                          
12       on the date when the person's obligation for repayment commences.                                                 
13    * Sec. 2. The uncodified law of the State of Alaska is amended by adding a new section to                          
14 read:                                                                                                                   

01       APPLICABILITY. This Act applies only to Alaska education grants or Alaska                                         
02 performance scholarship awards received after January 1, 2017.