HIGHER ED-PAY IT FORWARD House SponsorsRep. Jack D. Franks-Jay Hoffman-Robert W. Pritchard-Linda Chapa LaVia-Sue Scherer, Mary E. Flowers, Carol A. Sente, Laura Fine, William Davis, Naomi D. Jakobsson, Esther Golar, Jehan A. Gordon-Booth, Charles E. Jefferson and Eddie Lee Jackson, Sr. Senate Sponsors(Sen. Michael W. Frerichs, Melinda Bush-Pamela J. Althoff and Steve Stadelman-Linda Holmes) 8/15/2014HousePublic Act . . . . . . . . . 98-0920 New Act30 ILCS 105/5.855 new Creates the Pay It Forward, Pay It Back Act. Establishes a program to provide loans to eligible students to attend an institution of higher learning in this State that are to be repaid, in part, according to the income of the student borrowers. Sets forth the Pay It Forward, Pay It Back Program Fund where moneys in the fund shall be kept for the sole purpose of awarding program loans under the Act. Provides that the Department of Revenue shall administer the program and by rule develop the loan application process. Sets forth provisions governing loan repayment. Requires the Department to submit an annual report to the General Assembly. Amends the State Finance Act to create the Pay It Forward, Pay It Back Program Fund. Effective immediately.House Committee Amendment No. 1 Deletes reference to:New Act30 ILCS 105/5.855 newAdds reference to:110 ILCS 947/47 newReplaces everything after the enacting clause. Amends the Higher Education Student Assistance Act. Requires the Illinois Student Assistance Commission to undertake a study to determine the practical and fiscal impacts of adopting a program in Illinois similar to Pennsylvania's Pay It Forward Pay It Back program. Provides that the study shall focus on the particular intricacies, details, and mechanics of funding, with specific regard to the proposal contained in the language of House Bill 5323 as introduced. Provides that the Commission shall conduct a survey of similar programs within the 50 states, with specific regard to funding and programmatic practicality and feasibility. Requires the Commission to prepare a report based on the results of the study and submit its report to the General Assembly on or before December 1, 2014. Adds repealer reference. Effective immediately. 2/7/2014HouseFiled with the Clerk by Rep. Jack D. Franks 2/10/2014HouseFirst Reading 2/10/2014HouseReferred to Rules Committee 2/20/2014HouseAssigned to Higher Education Committee 2/20/2014HouseHouse Committee Amendment No. 1 Filed with Clerk by Rep. Jack D. Franks 2/20/2014HouseHouse Committee Amendment No. 1 Referred to Rules Committee 2/24/2014HouseHouse Committee Amendment No. 1 Rules Refers to Higher Education Committee 2/25/2014HouseAdded Chief Co-Sponsor Rep. Jay Hoffman 2/26/2014HouseHouse Committee Amendment No. 1 Adopted in Higher Education Committee; by Voice Vote 2/26/2014HouseDo Pass as Amended / Short Debate Higher Education Committee; 013-000-000 2/26/2014HouseAdded Chief Co-Sponsor Rep. Robert W. Pritchard 2/26/2014HouseAdded Chief Co-Sponsor Rep. Linda Chapa LaVia 2/26/2014HouseAdded Chief Co-Sponsor Rep. Sue Scherer 2/26/2014HouseAdded Co-Sponsor Rep. Mary E. Flowers 2/27/2014HousePlaced on Calendar 2nd Reading - Short Debate 3/4/2014HouseSecond Reading - Short Debate 3/4/2014HousePlaced on Calendar Order of 3rd Reading - Short Debate 3/5/2014HouseAdded Co-Sponsor Rep. Carol A. Sente 3/5/2014HouseAdded Co-Sponsor Rep. Laura Fine 3/5/2014HouseAdded Co-Sponsor Rep. William Davis 3/5/2014HouseThird Reading - Short Debate - Passed 111-000-000 3/5/2014HouseAdded Co-Sponsor Rep. Naomi D. Jakobsson 3/5/2014HouseAdded Co-Sponsor Rep. Esther Golar 3/5/2014HouseAdded Co-Sponsor Rep. Jehan A. Gordon-Booth 3/5/2014HouseAdded Co-Sponsor Rep. Charles E. Jefferson 3/5/2014HouseAdded Co-Sponsor Rep. Eddie Lee Jackson, Sr. 3/5/2014SenateArrive in Senate 3/5/2014SenatePlaced on Calendar Order of First Reading March 6, 2014 3/5/2014SenateChief Senate Sponsor Sen. Pamela J. Althoff 3/6/2014SenateFirst Reading 3/6/2014SenateReferred to Assignments 3/28/2014SenateAdded as Alternate Co-Sponsor Sen. Melinda Bush 5/1/2014SenateAssigned to Higher Education 5/7/2014SenateAdded as Alternate Chief Co-Sponsor Sen. Michael W. Frerichs 5/7/2014SenateSponsor Removed Sen. Michael W. Frerichs 5/8/2014SenateAlternate Chief Sponsor Changed to Sen. Michael W. Frerichs 5/8/2014SenateAdded as Alternate Chief Co-Sponsor Sen. Pamela J. Althoff 5/13/2014SenateDo Pass Higher Education; 009-000-000 5/13/2014SenatePlaced on Calendar Order of 2nd Reading May 14, 2014 5/15/2014SenateSecond Reading 5/15/2014SenatePlaced on Calendar Order of 3rd Reading May 19, 2014 5/15/2014SenateAdded as Alternate Co-Sponsor Sen. Steve Stadelman 5/20/2014SenateAdded as Alternate Chief Co-Sponsor Sen. Linda Holmes 5/23/2014SenateThird Reading - Passed; 056-000-000 5/23/2014HousePassed Both Houses 6/20/2014HouseSent to the Governor 8/15/2014HouseGovernor Approved 8/15/2014HouseEffective Date August 15, 2014 8/15/2014HousePublic Act . . . . . . . . . 98-0920