AB387: Bill Text

LRB-2466/1

GMM:jld:rs

2005 - 2006 LEGISLATURE

2005 Assembly BILL 387

April 27, 2005 - Introduced by Representatives Hundertmark, Krawczyk, Townsend, Gronemus, M. Williams, Nischke, Boyle, Ott, Musser, Wieckert, Pettis, Lehman, Albers, Hahn, Owens, Kreibich, Strachota, Hines, Lothian, Berceau, Vruwink, Petrowski, Davis, Underheim, Wasserman, Friske, Sheridan, Rhoades, Gunderson, Wood, Montgomery, Shilling, Suder, Seidel, Vrakas, McCormick and Cullen, cosponsored by Senators Stepp, Robson, Roessler, Carpenter, Miller, Risser, Wirch, Olsen, Hansen, Taylor, Harsdorf, Erpenbach, Lassa, Lazich and Darling. Referred to Committee on Colleges and Universities.

AB387,1,3 An Act to amend 39.393 (3); and to create 39.393 (1) (e) of the statutes; relating to: eligibility of a person enrolled in a program that confers a master's degree in nursing for a loan under the Nursing Student Loan Program.

Analysis by the Legislative Reference Bureau

Under current law, the Higher Educational Aids Board (HEAB) administers a Nursing Student Loan Program (loan program) under which HEAB makes loans to defray the cost of tuition, fees, and expenses for persons enrolled in programs in this state that confer associate degrees, bachelor's degrees, or diplomas in nursing or that confer second degrees that will make persons eligible to take the nursing licensure examination. The maximum amount of loans that a person may receive under the loan program during a fiscal year is $3,000, and the maximum total amount of loans that a person may receive under the loan program is $15,000. After a loan recipient has completed his or her program of study, HEAB must forgive 25 percent of the loan's principal and interest after the first full year, and 25 percent of the loan's principal and interest after the second full year, that the loan recipient has been employed full time in this state as a nurse.

This bill extends eligibility for a loan under the loan program to persons enrolled in programs in this state that confer master's degrees in nursing and extends the loan forgiveness requirements under the loan program to loan recipients who are employed full time in this state as nurse educators.

For further information see the state fiscal estimate, which will be printed as an appendix to this bill.

The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:

AB387, s. 1 Section 1. 39.393 (1) (e) of the statutes is created to read:

AB387,2,2 39.393 (1) (e) A program in this state that confers a master's degree in nursing.

AB387, s. 2 Section 2. 39.393 (3) of the statutes is amended to read:

AB387,2,9 39.393 (3) After the recipient of a loan under sub. (1) has completed the program described in sub. (1), the board shall forgive 25% of the loan's principal and interest after the first full year and 25% of the loan's principal and interest after the 2nd full year that the recipient has been employed full time in this state as a nurse or nurse educator. The board may forgive loans on a prorated basis for persons who are employed less than full time.

AB387,2,10 (End)