EDUCATION-TECH Senate SponsorsSen. Martin A. Sandoval-Emil Jones, Jr. House Sponsors(Rep. Daniel J. Burke) 1/13/2009SenateSession Sine Die 110 ILCS 947/35Amends the Higher Education Student Assistance Act. Makes a technical change in a Section concerning the Monetary Award Program.Senate Floor Amendment No. 1 Deletes reference to:110 ILCS 947/35Adds reference to:30 ILCS 105/5.675 new110 ILCS 947/65.85 newDeletes everything after the enacting clause. Amends the Higher Education Student Assistance Act and the State Finance Act. Requires the Illinois Student Assistance Commission, subject to appropriation, to implement and administer a higher education revolving loan program to provide loans to eligible students for the costs of attending an institution of higher learning in this State. Provides that the loans must be offered at a low interest rate to be determined by the Commission. Provides that an individual may not receive loans in excess of $5,000 or the student's tuition and mandatory fees, whichever is less, per academic year. Provides that loan funds must be paid directly to the institution of higher learning. Provides that the repayment period for a loan may not exceed 15 years. Contains other provisions concerning repayment. Creates the Higher Education Revolving Loan Fund as a special fund in the State treasury. Provides that all repayments of loans under the amendatory provisions shall be deposited into the Fund. Provides that all money in the Fund shall be used, subject to appropriation, by the Commission for making loans under the amendatory provisions. Effective July 1, 2007. 2/8/2007SenateFiled with Secretary by Sen. Edward D. Maloney 2/8/2007SenateChief Co-Sponsor Sen. Emil Jones, Jr. 2/8/2007SenateFirst Reading 2/8/2007SenateReferred to Rules 3/7/2007SenateAssigned to Executive 3/15/2007SenateDo Pass Executive; 007-005-000 3/15/2007SenatePlaced on Calendar Order of 2nd Reading March 20, 2007 3/22/2007SenateSecond Reading 3/22/2007SenatePlaced on Calendar Order of 3rd Reading March 27, 2007 3/30/2007SenateRule 2-10 Third Reading Deadline Established As May 31, 2007 5/17/2007SenateSenate Floor Amendment No. 1 Filed with Secretary by Sen. Martin A. Sandoval 5/17/2007SenateSenate Floor Amendment No. 1 Referred to Rules 5/17/2007SenateSenate Floor Amendment No. 1 Rules Refers to Higher Education 5/18/2007SenateSenate Floor Amendment No. 1 Recommend Do Adopt Higher Education; 009-000-000 5/18/2007SenateChief Sponsor Changed to Sen. Martin A. Sandoval 5/18/2007SenateRecalled to Second Reading 5/18/2007SenateSenate Floor Amendment No. 1 Adopted; Sandoval 5/18/2007SenatePlaced on Calendar Order of 3rd Reading 5/18/2007SenateThird Reading - Passed; 053-000-000 5/21/2007HouseArrived in House 5/21/2007HousePlaced on Calendar Order of First Reading 5/21/2007HouseChief House Sponsor Rep. Daniel J. Burke 5/21/2007HouseFirst Reading 5/21/2007HouseReferred to Rules Committee 5/23/2007HouseAssigned to Higher Education Committee 5/25/2007HouseFinal Action Deadline Extended-9(b) May 31, 2007 5/31/2007HouseRule 19(a) / Re-referred to Rules Committee 1/13/2009SenateSession Sine Die