Legislature(2007 - 2008)BARNES 124
04/01/2008 01:00 PM House MILITARY & VETERANS' AFFAIRS
| Audio | Topic |
|---|---|
| Start | |
| SB214 | |
| HB405 | |
| Adjourn |
* first hearing in first committee of referral
+ teleconferenced
= bill was previously heard/scheduled
+ teleconferenced
= bill was previously heard/scheduled
| + | SB 214 | TELECONFERENCED | |
| += | HB 405 | TELECONFERENCED | |
| + | TELECONFERENCED |
HB 405-STUDENT LOAN FORGIVENESS FOR MILITARY 1:13:42 PM CHAIR ROSES announced that the final order of business would be HOUSE BILL NO. 405, "An Act relating to forgiveness of a percentage of student loans for a member of the armed forces deployed since 2001." 1:13:43 PM REPRESENTATIVE DAHLSTROM moved that the committee adopt Committee Substitute (CS) for HB 405, Version 25-LS1483\M, Mischel, 3/29/08, as the working document. There being no objection, Version M was before the committee. 1:14:15 PM CHRIS BIRDSALL, Staff to Representative Harry Crawford, Alaska State Legislature, introduced the committee substitute for HB 405. He indicated that the first change was to replace all of the terms "forgiveness", "forgive", or "forgiven" with the terms "repayment", "repayment benefit", or "repaid." Also, on page 1, line 9, the deployment criteria was changed from "Afghanistan or Iraq" to "provide direct or indirect support for the global war on terrorism." He noted that deployment status can be verified by the applicant's orders. Further, there were additions on page 1, line 11, of "if discharged from the armed forces, was discharged in honorable status" and, on line 13, "is in good standing for the repayment of the loan and in full compliance with the terms and conditions of the loan." The next change was on page 2, line 1, that changed the amount to be repaid by the state from "50 percent of the total loan amount, plus interest" to "50 percent of the total unpaid balance of the loan, plus interest." Mr. Birdsall explained that the purpose of this change was to prevent the applicant from receiving a benefit in excess of the remaining balance of the loan. A further addition, on page 2, line 5, was authorization for the Postsecondary Education Commission to adopt the regulations needed to administer the program. The last addition, on page 2, line 7, adds the United States Coast Guard to the named armed forces. 1:16:31 PM CHAIR ROSES asked whether these changes would affect the fiscal note attached to the bill. 1:16:45 PM DIANE BARRANS, Executive Director, Postsecondary Education Commission, Department of Education and Early Development, stated that the method used by the Postsecondary Education Commission to identify the qualifying aggregate balance was broad; therefore, she opined that there would not be a substantial change to the fiscal note that was attached to the original bill. 1:17:22 PM CHAIR ROSES observed that the CS satisfied all of the committee's concerns about the original bill. 1:17:34 PM REPRESENTATIVE DAHLSTROM moved to report CSHB 405, Version 25- LS1483\M, Mischel, 3/29/08, out of committee with individual recommendations and the accompanying fiscal note. There being no objection, CSHB 405(MLV) was reported out of the House Special Committee on Military and Veterans' Affairs.
| Document Name | Date/Time | Subjects |
|---|