LOAN REPAYMENT ASSISTANCE ACT House SponsorsRep. Katie Stuart-Barbara Hernandez 1/10/2023HouseSession Sine Die New Act30 ILCS 105/5.970 new Creates the Loan Repayment Assistance Act. Requires the Illinois Student Assistance Commission to establish and administer a Loan Repayment Assistance Program for the purpose of providing loan repayment assistance to eligible applicants living and working in this State who have graduated from a high school located in this State and an institution of higher education located in this State or another state. On an annual basis, requires the Commission to receive and consider applications for loan repayment assistance under the Program and provide assistance if the Commission finds that the applicant (i) has graduated from a high school located in this State and from an institution of higher education located in this State or in another state as an undergraduate student with a cumulative grade point average of a 4.0 on a 4.0 scale, (ii) has been a resident of this State for at least 4 years after graduating from the institution of higher education, (iii) has been employed in this State for at least 4 years after graduating from the institution of higher education, and (iv) has eligible debt in grace or repayment status. Provides for the maximum amount of loan repayment assistance that may be provided. Provides that funds shall be distributed subject to the availability of appropriations. Sets forth requirements for loan forgiveness. Sets forth provisions concerning administration of the Program, ineligibility and the termination of funds, and other Commission powers. Amends the State Finance Act to create the Loan Repayment Assistance Fund as a special fund in the State treasury. Effective immediately. 11/8/2021HouseFiled with the Clerk by Rep. Katie Stuart 12/6/2021HouseAdded Chief Co-Sponsor Rep. Barbara Hernandez 1/5/2022HouseFirst Reading 1/5/2022HouseReferred to Rules Committee 2/9/2022HouseAssigned to Appropriations-Higher Education Committee 2/18/2022HouseCommittee Deadline Extended-Rule 9(b) February 25, 2022 2/25/2022HouseRule 19(a) / Re-referred to Rules Committee 3/1/2022HouseAssigned to Appropriations-Higher Education Committee 3/1/2022HouseFinal Action Deadline Extended-9(b) March 31, 2022 3/2/2022HouseMoved to Suspend Rule 21 Rep. Greg Harris 3/2/2022HouseSuspend Rule 21 - Prevailed 3/31/2022HouseFinal Action Deadline Extended-9(b) April 8, 2022 4/11/2022HouseRule 19(a) / Re-referred to Rules Committee 1/10/2023HouseSession Sine Die