2015 WISCONSIN ACT 359
An Act to renumber 39.399 (1); to amend 39.399 (2), 39.399 (3) (a), 39.399 (3) (b) 1. and 39.399 (4); and to create 39.399 (1g) of the statutes; relating to: the teacher loan program.
The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:
39.399 (1g) of the statutes is created to read:
39.399 (1g) In this section:
(a) "Rural county" means a county that satisfies all of the following:
1. The county does not include any urbanized area.
2. Less than 25 percent of persons residing in the county are employed in another county that includes an urbanized area.
3. Less than 25 percent of persons employed in the county reside in another county that includes an urbanized area.
(b) "Urbanized area" has the meaning given in 23 USC 134
39.399 (2) A student eligible for a loan under sub.
(1) (1m) may be awarded loans of up to $10,000 annually for not more than 3 years, with a maximum of $30,000 in loans to a student under this section.
39.399 (3) (a) Loans under sub. (1)
(1m) shall be made from the appropriation under s. 20.235 (1) (ct). Except as provided in par. (b), loans under sub. (1)
(1m) shall be repaid at an annual interest rate of 5 percent.
39.399 (3) (b) 1. The recipient is employed by a public or private elementary or secondary school in the city of Milwaukee, as a full-time teacher in a high-demand area related to the recipient's discipline under sub. (1) (1m) (b), by a public or private elementary or secondary school in the city of Milwaukee or in a school district in a rural county.
39.399 (4) The board shall deposit in the general fund as general purpose revenue-earned all repayments of loans made under sub. (1) (1m) and the interest on the loans.
(1) This act first applies to recipients of loans under section 39.999 of the statutes whose employment as a full-time teacher first commences on the effective date of this subsection.