GENERAL ASSEMBLY OF NORTH CAROLINA

SESSION 1989

H	1 

HOUSE BILL 2167*

Short Title:  Teaching Fellows Fund Uses.	(Public)
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Sponsors: Representatives Diamont; and Bowman.
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Referred to:  Education.
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May 29, 1990

A BILL TO BE ENTITLED
AN ACT PROVIDING FOR THE USE OF FUNDS IN THE TEACHING FELLOWS REVOLVING FUND TO OFFSET GENERAL FUND APPROPRIATIONS AND FOR OTHER PURPOSES.
The General Assembly of North Carolina enacts:
Section 1.  The 1990-91 appropriation of funds for scholarships to complete the implementation of the Teaching Fellows Program is hereby reduced by the sum of $1,000,000.
Of the funds in the Revolving Fund for the Teaching Fellows Program, the sum of $1,000,000 shall be used for scholarships for the 1990-91 fiscal year to complete the implementation of the Teaching Fellows Program.
Sec. 2.  G.S. 115C-363.23A(e) reads as rewritten:
"(e)	The Commission shall forgive the loan if, within seven years after graduation, the recipient teaches for four years at a North Carolina public school or at a school operated by the United States government in North Carolina.  The Commission shall also forgive the loan if it finds that it is impossible for the recipient to teach for four years, within seven years after graduation, at a North Carolina public school or at a school operated by the United States government in North Carolina, because of the death or permanent disability of the recipient."
Sec. 3.  G.S. 115C-363.23A(f) reads as rewritten:
"(f)	All funds appropriated to or otherwise received by the Teaching Fellows Program for scholarships, all funds received as repayment of scholarship loans, and all interest earned on these funds, shall be placed in a revolving fund. This revolving fund may be used only for scholarship loans granted under the Teaching Fellows Program, campus and summer program support, and costs related to disbursement of awards and collection of loan repayments."
Sec. 4.  Section 1 of this act is effective upon ratification.  Sections 2 and 3 of this act shall become effective July 1, 1990.