Florida Senate - 2016 PROPOSED COMMITTEE SUBSTITUTE Bill No. SB 290 Ì3374827Î337482 576-02719-16 Proposed Committee Substitute by the Committee on Appropriations (Appropriations Subcommittee on Education) 1 A bill to be entitled 2 An act relating to the STEM Teacher Loan Forgiveness 3 Program; creating s. 1009.641, F.S.; creating the STEM 4 Teacher Loan Forgiveness Program; providing for the 5 administration of the program; providing for teacher 6 eligibility; specifying the type of loans the program 7 covers; authorizing the Department of Education to 8 make specified loan repayments; authorizing the 9 department to use up to a specified percentage of 10 available funds to administer the program; providing 11 for implementation and rulemaking; providing an 12 effective date. 13 14 Be It Enacted by the Legislature of the State of Florida: 15 16 Section 1. Section 1009.641, Florida Statutes, is created 17 to read: 18 1009.641 STEM Teacher Loan Forgiveness Program.— 19 (1) The STEM Teacher Loan Forgiveness Program, administered 20 by the Department of Education, is established to encourage and 21 incentivize qualified Florida college graduates to remain in 22 this state to teach STEM courses at a public school. 23 (2) To be eligible to participate in this program, a 24 teacher must meet all of the following criteria: 25 (a) Receive a baccalaureate or graduate degree from a 26 Florida public postsecondary education institution. 27 (b) Hold a valid Florida educator’s certificate under s. 28 1012.56. 29 (c) Be employed by a public school district and assigned to 30 teach a science, technology, engineering, or mathematics (STEM) 31 course at a public school in this state for 8 consecutive years. 32 (d) Not receive student loan repayment assistance from any 33 other state, local, or federal program or private fund. 34 (3) The program may cover only those loans received by 35 students from federal programs or commercial lending 36 institutions for the support of the study of education at a 37 postsecondary education institution. 38 (4) The department may make loan repayments, which shall be 39 prorated based on available appropriations, of up to $4,000 a 40 year for up to 4 years on behalf of teachers who meet the 41 eligibility requirements under subsection (2). All loan 42 repayments shall be made directly to the holder of the loan and 43 shall be contingent on proof of continued employment by a public 44 school district and of continued assignment to teach a STEM 45 course. 46 (5) The department may use only up to 1 percent of the 47 funds appropriated for the program to administer this section, 48 unless the General Appropriations Act authorizes a different 49 amount for such purpose. 50 (6) This section shall be implemented only as specifically 51 funded. 52 (7) The State Board of Education may adopt rules to 53 administer the program. 54 Section 2. This act shall take effect July 1, 2016.