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 Bill Status of HB3370  100th General Assembly


Short Description:  AFFORDABLE COLLEGE FINANCING

House Sponsors
Rep. Elgie R. Sims, Jr.

Last Action
DateChamber Action
  3/31/2017HouseRule 19(a) / Re-referred to Rules Committee

Statutes Amended In Order of Appearance
New Act
30 ILCS 105/5.878 new


Synopsis As Introduced
Creates the Affordable College Financing Pilot Program Act. Requires the Illinois Student Assistance Commission to implement and administer a pilot program to provide loans to 400 eligible students to attend State universities. Requires the loans to be repaid beginning 6 months after the borrower leaves school, on a schedule that is based on the income of the borrower. Specifies calculations for the amount of the loan and terms for repayment. Requires the Commission to submit progress reports to the General Assembly. Provides that, in the progress report, the Commission shall track average cumulative debt and year-to-year student retention and track and report the progress of borrowers throughout the repayment period. Amends the State Finance Act. Creates the Affordable College Financing Pilot Program Fund as a special fund in the State treasury. Effective immediately.

Actions 
DateChamber Action
  2/9/2017HouseFiled with the Clerk by Rep. Elgie R. Sims, Jr.
  2/10/2017HouseFirst Reading
  2/10/2017HouseReferred to Rules Committee
  2/22/2017HouseAssigned to Revenue & Finance Committee
  3/9/2017HouseTo Growth, Reform & Fairness Subcommittee
  3/31/2017HouseRule 19(a) / Re-referred to Rules Committee

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