HB431 Alabama 2023 Session

Summary

Primary Sponsor

Juandalynn Givan Representative

Democrat

Session

Regular Session 2023

Title

Relating to education; to create the Distressed Institutions of Higher Education Revolving Loan Program to be administered by the State Treasurer; to define "eligible institutions"; to authorize the State Treasurer to establish terms and conditions of loans; to require reporting of contract terms and on the operation of the program; to establish the Distressed Institutions of Higher Education Loan Program Fund in the State Treasury to receive appropriations from the Legislature for funding loans and loan repayments; and to provide for recovery of amounts due.

Description

This bill would create the Distressed Institutions of Higher Education Revolving Loan Program to be administered by the State Treasurer for the purpose of providing loans to eligible higher education institutions who are experiencing financial hardship.

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