71st OREGON LEGISLATIVE ASSEMBLY--2001 Regular Session
 
HA to HB 2431
 
LC 1619/HB 2431-1
 
                       HOUSE AMENDMENTS TO
                         HOUSE BILL 2431
 
  By COMMITTEE ON STUDENT ACHIEVEMENT AND SCHOOL ACCOUNTABILITY
 
                           February 5
 
  On page 1 of the printed bill, line 2, after '348.270 ' insert
'and 348.570'.
  On page 2, line 7, after 'student' delete the rest of the line
and line 8 and insert 'is a former foster child.'.
  Delete lines 10 through 12 and insert:
  ' (a) 'Former foster child' means an individual who, for a
total of 12 or more months while between the ages of 16 and 21,
was a ward of the court pursuant to ORS 419B.100 (1)(b) to (e)
and in the legal custody of the State Office for Services to
Children and Families for out-of-home placement.'.
  After line 15, insert:
  '  { +  SECTION 2. + } ORS 348.570 is amended to read:
  ' 348.570. (1) There is established in the State Treasury a
fund, separate and distinct from the General Fund, to be known as
the Oregon Student Assistance Fund for investment as provided by
ORS 293.701 to 293.820 and for the payment of the expenses of the
Oregon Student Assistance Commission in carrying out the purposes
of ORS 348.210 to 348.250, 348.505 to 348.615, 348.696 and
348.992. Interest earned by the fund shall be credited to the
fund.
  ' (2) There is established in the State Treasury a fund,
separate and distinct from the General Fund, to be known as the
Student Loan Guarantee Fund, which may be invested in the same
manner as the Oregon Student Assistance Fund. This fund shall
receive funds from federal, state or private sources for the
purpose of guarantying payment of loans made by eligible lending
institutions to student residents of the State of Oregon who are
enrolled or accepted for enrollment at any eligible institution,
nonresident students enrolled or accepted for enrollment in an
institution of higher education or community college in Oregon,
and parents of those students, under the provisions of the Higher
Education Act of 1965 as amended and for administrative expenses
of guarantying loans. This fund, including the interest earnings
on the fund, if any, is continuously appropriated to the
commission for those purposes for which such funds were provided
to, received or collected by the commission.
  ' (3) There is established in the State Treasury a fund,
separate and distinct from the General Fund, to be known as the
Alternative Student Loan Program Fund for investments as provided
by ORS 293.701 to 293.820 and the payment of expenses by the
commission in carrying out the purposes of ORS 348.625 to
348.695.  This fund, including the interest earnings on the fund,
if any, is continuously appropriated to the commission for those
purposes for which such funds were provided to, received or
collected by the commission.
  '  { +  (4) There is established in the State Treasury a fund,
separate and distinct from the General Fund, to be known as the
Former Foster Youth Scholarship Fund for investment as provided
by ORS 293.701 to 293.820 and for the payment of the expenses of
the Oregon Student Assistance Commission in carrying out the
purposes of ORS 348.270 (1)(b). Interest earned by the fund shall
be credited to the fund. + } ' .
  In line 16, delete '2' and insert '3'.
  In line 20, delete '3' and insert '4'.
  In line 23, delete '4' and insert '5'.
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