STAND. COM. REP. NO.577-02
Honolulu, Hawaii
, 2002
RE: H.B. No. 2558
H.D. 1
Honorable Calvin K.Y. Say
Speaker, House of Representatives
Twenty-First State Legislature
Regular Session of 2002
State of Hawaii
Sir:
Your Committee on Finance, to which was referred H.B. No. 2558, H.D. 1, entitled:
"A BILL FOR AN ACT RELATING TO STUDENT LOANS FOR TEACHERS,"
begs leave to report as follows:
The purpose of this bill is to resolve the shortage of teachers in the State's public school system by:
(1) Creating the Hawaii Educator Incentive Program (HEIP) and Special Fund to be administered by a designated federal credit union that has been contracted to provide financial assistance to students who attend a state-approved institution located in Hawaii, graduate from a state-approved teacher education program, and agree to serve in the Department of Education (DOE); and
(2) Establishing eligibility requirements, maximum reimbursement amounts, repayment schedules, and loan forgiveness payment guidelines to implement HEIP.
The Office of the Lieutenant Governor, DOE, Hawaii Association of Independent Schools, Hawaii Business Roundtable, and the University of Phoenix testified in support of this measure. The Hawaii Teacher Standards Board and the University of Hawaii supported the intent of this measure.
As affirmed by the record of votes of the members of your Committee on Finance that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 2558, H.D. 1, and recommends that it pass Third Reading.
Respectfully submitted on behalf of the members of the Committee on Finance,
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____________________________ DWIGHT Y. TAKAMINE, Chair |
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