71st OREGON LEGISLATIVE ASSEMBLY--2001 Regular Session
NOTE: Matter within { + braces and plus signs + } in an
amended section is new. Matter within { - braces and minus
signs - } is existing law to be omitted. New sections are within
{ + braces and plus signs + } .
LC 1891
House Bill 2699
Sponsored by Representative PATRIDGE, Senator METSGER;
Representatives BATES, GARDNER, GARRARD, HILL, KRUMMEL, MONNES
ANDERSON, STARR, C WALKER, Senators BROWN, BURDICK, CORCORAN,
DECKERT, FISHER, HANNON, MINNIS, TROW
SUMMARY
The following summary is not prepared by the sponsors of the
measure and is not a part of the body thereof subject to
consideration by the Legislative Assembly. It is an editor's
brief statement of the essential features of the measure as
introduced.
Provides loan repayment up to specified amount for registered
nurses with graduate degrees in nursing who teach college courses
in nursing in Oregon.
A BILL FOR AN ACT
Relating to student loans for nursing; creating new provisions;
amending ORS 348.570; and appropriating money.
Be It Enacted by the People of the State of Oregon:
SECTION 1. { + As used in sections 2 and 3 of this 2001 Act:
(1) 'Nurse' means any person with a bachelor of science degree
in nursing who is licensed under ORS 678.010 to 678.410 as a
registered nurse.
(2) 'Qualifying loan' means any loan made to a graduate nursing
student under:
(a) Programs under Title IV, parts B, D and E, of the Higher
Education Act of 1965, as amended; or
(b) The Nursing Student Loan and Health Education Assistance
Loan programs administered by the United States Department of
Health and Human Services. + }
SECTION 2. { + (1) There is created the Nursing Services
Program, to be administered by the Oregon Student Assistance
Commission pursuant to rules adopted by the commission. The
purpose of the program is to provide loan repayments on behalf of
registered nurses who obtain graduate degrees in nursing and
teach nursing courses at an approved college or university in
this state.
(2) To be eligible to participate in the program, a registered
nurse with a graduate degree in nursing shall submit a letter of
interest to the commission. Applicants who are selected for
participation according to criteria adopted by the commission
under subsection (3) of this section shall sign a letter of
agreement stipulating that the applicant agrees to abide by the
terms of the program described in section 3 of this 2001 Act.
(3) The commission shall by rule adopt, in consultation with
the Oregon State Board of Nursing and the deans of Oregon's
graduate nursing programs, criteria for participation in the
program and the terms of loan repayment.
(4) If the nurse does not complete the full service obligation
set forth in section 3 of this 2001 Act, the commission may
collect 100 percent of any payments made by the commission on
behalf of the nurse under the program. In addition, the
commission shall assess against the nurse a penalty not to exceed
50 percent of the qualifying loans repaid by the commission. The
commission, in consultation with the Oregon State Board of
Nursing, by rule shall allow waiver of all or part of any loan
repayments or penalties owed to the commission due to
circumstances that prevent a nurse from fulfilling a service
obligation described in section 3 of this 2001 Act.
(5) Amounts paid to the commission as penalties under
subsection (4) of this section shall be credited and deposited in
the Nursing Services Fund created under ORS 348.570. + }
SECTION 3. { + For each year that the registered nurse with a
graduate degree in nursing serves in a nursing faculty position
as an instructor at an accredited nursing college or university
in this state, the Oregon Student Assistance Commission shall
pay:
(1) For full-time teaching, an amount equal to 25 percent of
the total of all qualifying loans made to the nurse, up to an
annual maximum of $___.
(2) For half-time teaching, an amount equal to 12.5 percent of
the total of all qualifying loans made to the nurse, up to an
annual maximum of $___. + }
SECTION 4. 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 - }
{ + investment + } as provided by ORS 293.701 to 293.820 and
{ + for + } the payment of expenses { - by - } { + of + }
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
Nursing Services Fund for investment as provided by ORS 293.701
to 293.820 and for the payment of expenses of the commission in
carrying out the purposes of sections 1 to 3 of this 2001 Act.
Interest earned by the Nursing Services Fund shall be credited to
the fund. The Nursing Services Fund, including interest earnings
on the fund, if any, is continuously appropriated to the
commission for the purposes of sections 1 to 3 of this 2001
Act. + }
----------