Amendment AA4-ASA1-AB56

AB56-ASA1-AA4,7,15 19. Page 289, line 8: after that line insert:

AB56-ASA1-AA4,7,16 “ Section 366m. 36.60 (2) (a) 2. of the statutes is amended to read:

AB56-ASA1-AA4,7,21 36.60 (2) (a) 2. The board may repay, on behalf of a physician or dentist who agrees under sub. (3) to practice in a rural area, up to $100,000 in educational loans obtained by the physician or dentist from a public or private lending institution for education in an accredited school of medicine or dentistry or for postgraduate medical or dental training.

AB56-ASA1-AA4,367m Section 367m. 36.60 (4m) (intro.) of the statutes is amended to read:

AB56-ASA1-AA4,8,2 36.60 (4m) Loan repayment; rural physicians and dentists. (intro.) If a physician or dentist agrees under sub. (3) to practice in a rural area, principal and interest due on the loan, exclusive of any penalties, may be repaid by the board at the following rate:

AB56-ASA1-AA4,373m Section 373m. 36.615 of the statutes is created to read:

AB56-ASA1-AA4,8,5 36.615 Nurse educators. (1) Subject to sub. (2), the Board of Regents shall establish a program for providing all of the following:

AB56-ASA1-AA4,8,7 (a) Fellowships to students who enroll in programs for degrees in doctor of nursing practice or doctor of philosophy in nursing.

AB56-ASA1-AA4,8,8 (b) Postdoctoral fellowships to recruit faculty for system nursing programs.

AB56-ASA1-AA4,8,10 (c) Educational loan repayment assistance to recruit and retain faculty for system nursing programs.

AB56-ASA1-AA4,8,13 (2) The program established under sub. (1) shall require individuals who receive fellowships under sub. (1) (a) or (b) or assistance under sub. (1) (c) to make a commitment to teach for 3 consecutive years in a system nursing program.

AB56-ASA1-AA4,8,15 (3) Costs associated with the program established under sub. (1) shall be funded from the appropriation under s. 20.285 (1) (f).”.

AB56-ASA1-AA4,8,16 20. Page 290, line 4: after that line insert:

AB56-ASA1-AA4,8,17 “ Section 387m. 39.285 (1) (b) of the statutes is amended to read:

AB56-ASA1-AA4,9,6 39.285 (1) (b) If the board determines during a fiscal year that any formula approved under par. (a) during the prior fiscal year needs to be modified during the fiscal year in order to expend the entire amount appropriated for grants to students under s. 39.30 or 39.435, except s. 39.435 (2) or (5), in that fiscal year, the board shall submit may implement the modified formula to the joint committee on finance. If the cochairpersons of the committee do not notify the board that the committee has scheduled a meeting for the purpose of reviewing the modified formula within 14 working days after the date of the submittal, the modified formula may be implemented as proposed by the board. If, within 14 working days after the date of the submittal, the cochairpersons of the committee notify the board that the committee has scheduled a meeting for the purpose of reviewing the modified formula, the modified formula may be implemented only upon approval of the committee.”.

AB56-ASA1-AA4,9,7 21. Page 290, line 7: after that line insert:

AB56-ASA1-AA4,9,9 “ Section 391g. 39.435 (2) of the statutes is renumbered 39.435 (2) (a) and amended to read:

AB56-ASA1-AA4,9,20 39.435 (2) (a) The board shall award talent incentive grants to uniquely needy students enrolled at least half-time as first-time freshmen at public and private nonprofit institutions of higher education located in this state and to sophomores, juniors, and seniors who received such grants as freshmen. No grant under this subsection paragraph may exceed $1,800 for any academic year. The board may award a grant under this subsection paragraph to the same student for up to 10 semesters or their equivalent, but may not award such a grant to the same student more than 6 years after the initial grant is awarded to that student. A student need not maintain continuous enrollment at an institution of higher education to remain eligible for a grant under this subsection paragraph. The board shall promulgate rules establishing eligibility criteria for grants under this subsection paragraph.

AB56-ASA1-AA4,391j Section 391j. 39.435 (2) (b) of the statutes is created to read:

AB56-ASA1-AA4,9,24 39.435 (2) (b) Before the end of a fiscal biennium, the board may make supplemental talent incentive grants to students to whom the board has awarded talent incentive grants under par. (a) in that fiscal biennium, but only if the board determines that, after the board makes all of the grants under par. (a) in that fiscal biennium, moneys are available in the appropriation account under s. 20.235 (1) (fd) for grants under this paragraph.”.

AB56-ASA1-AA4,10,4 22. Page 498, line 8: after that line insert:

AB56-ASA1-AA4,10,8 “(2m) Student success and attainment. From the appropriation under s. 20.285 (1) (a), the Board of Regents of the University of Wisconsin System shall allocate $20,000,000 in fiscal year 2019-20 and $25,000,000 in fiscal year 2020-21 to advance student success and attainment.”.

AB56-ASA1-AA4,10,9 23. Page 499, line 21: after that line insert:

AB56-ASA1-AA4,10,10 “(1p) Student loan refinancing study committee.

AB56-ASA1-AA4,10,14 (a) There is created the student loan refinancing study committee to study the creation and administration of a bonding authority for the refinancing of student loans in this state in order to ease the burden of student loan debt for this state's residents.

AB56-ASA1-AA4,10,16 (b) The student loan refinancing study committee shall consist of the following members:

AB56-ASA1-AA4,10,17 1. The secretary of financial institutions.

AB56-ASA1-AA4,10,18 2. The state treasurer.

AB56-ASA1-AA4,10,19 3. The executive secretary of the higher educational aids board.

AB56-ASA1-AA4,10,23 (c) No later than October 1, 2020, the student loan refinancing study committee shall submit to the governor and to the chief clerk of each house of the legislature, for distribution to the appropriate standing committees under s. 13.172 (3), a report that includes all of the following:

AB56-ASA1-AA4,11,2 1. Recommendations regarding the corporate and legal structure of the refinancing entity, including governance.

AB56-ASA1-AA4,11,6 2. A profile of the loan portfolio, projected start-up and operational costs, estimated staffing needs, underwriting requirements, and other information pertinent to the creation of a refinancing entity that can offer interest rate savings to this state's student loan debtors.

AB56-ASA1-AA4,11,9 3. An assessment of the feasibility of and options for offering protections to borrowers refinancing student debt through the refinancing entity that are similar to the protections under federal student loan programs.

AB56-ASA1-AA4,11,12 (d) The department of financial institutions shall pay the administrative expenses of the student loan refinancing study committee, not exceeding a total of $50,000, from the appropriation account under s. 20.144 (1) (g).

AB56-ASA1-AA4,11,14 (e) The student loan refinancing study committee terminates upon the submission of the report under par. (c).”.

AB56-ASA1-AA4,11,15 24. Page 507, line 12: after that line insert:

AB56-ASA1-AA4,11,18 “(1m) Dentist loan assistance program. The treatment of s. 36.60 (2) (a) 2. and (4m) (intro.) first applies to dentists whose applications for the program under s. 36.60 are received on the effective date of this subsection.”.

AB56-ASA1-AA4,11,19 (End)