FIRSTREGULARSESSION
[PERFECTED]
HOUSEBILLNO.403
102NDGENERALASSEMBLY
INTRODUCEDBYREPRESENTATIVEHADEN.
1031H.01P DANARADEMANMILLER,ChiefClerk
ANACT
Torepealsections340.341,340.345,340.381,340.384,and340.387,RSMo,andtoenactin
lieuthereoffivenewsectionsrelatingtothelargeanimalveterinarystudentloan
program.
BeitenactedbytheGeneralAssemblyofthestateofMissouri,asfollows:
SectionA.Sections340.341,340.345,340.381,340.384,and340.387,RSMo,are
2repealedandfivenewsectionsenactedinlieuthereof,tobeknownassections340.341,
3340.345,340.381,340.384,and340.387,toreadasfollows:
340.341.1.Thedepartmentshalladoptandpromulgaterulesestablishingstandards
2fordeterminingeligiblestudentsforloanrepaymentpursuanttosections340.335to340.350.
3Suchstandardsshallinclude,butarenotlimitedtothefollowing:
4 (1)CitizenshiporlawfulpermanentresidencyintheUnitedStates;
5 (2)ResidenceinthestateofMissouri;
6 (3)Enrollmentasafull-timeveterinarymedicalstudentinthefinalyearofacourse
7ofstudyofferedbyanapprovededucationalinstitutioninMissouri;
8 (4)Applicationforloanrepayment.
9 2.Thedepartmentshallnotgrantrepaymentformorethan[six]twelveveterinarians
10eachyear.
340.345.1.Aloanpaymentprovidedforanindividualpursuanttoawrittencontract
2underthelargeanimalveterinarymedicineloanrepaymentprogramshallconsistofpayment
3onbehalfoftheindividualoftheprincipal,interestandrelatedexpensesongovernmentand
EXPLANATION—Matterenclosedinbold-facedbrackets[thus] intheabovebillisnotenactedandis
intendedtobeomittedfromthelaw.Matterinbold-facetypeintheabovebillisproposedlanguage. 4commercialloansreceivedbytheindividualfortuition,fees,books,laboratoryandliving
5expensesincurredbytheindividual.
6 2.Foreachyearofobligatedservicesthatanindividualcontractstoserveinanarea
7ofdefinedneed,thedepartmentmaypayupto[twenty] thirtythousanddollarsonbehalfof
8theindividualforloansdescribedinsubsection1ofthissection.
9 3.Thedepartmentmayenterintoanagreementwiththeholderoftheloansforwhich
10repaymentsaremadeunderthelargeanimalveterinarymedicineloanrepaymentprogramto
11establishascheduleforthemakingofsuchpaymentsiftheestablishmentofsuchaschedule
12wouldresultinreducingthecoststothestate.
13 4.Anyqualifyingcommunitiesprovidingaportionofaloanrepaymentshallbe
14consideredfirstforplacement.
340.381.1.Sections340.381to340.396establishastudentloanforgivenessprogram
2forapprovedveterinarystudentswhopracticeinareasofdefinedneed.Suchprogramshall
3beknownasthe"Dr.MerrillTownleyandDr.DanBrownLargeAnimalVeterinaryStudent
4LoanProgram".
5 2.Thereisherebycreatedinthestatetreasurythe"VeterinaryStudentLoanPayment
6Fund",whichshallconsistofgeneralrevenueappropriatedtothelargeanimalveterinary
7studentloanprogram,voluntarycontributionstosupportormatchprogramactivities,money
8collectedundersection340.396,anyprivategrant,gift,donation,devise,orbequestof
9moneys,funds,realorpersonalproperty,orotherassets,andfundsreceivedfromthe
10federalgovernment.Thestatetreasurershallbecustodianofthefundandshallapprove
11disbursementsfromthefundinaccordancewithsections30.170and30.180.Upon
12appropriation,moneyinthefundshallbeusedsolelyfortheadministrationofsections
13340.381to340.396.Notwithstandingtheprovisionsofsection33.080tothecontrary,any
14moneysremaininginthefundattheendofthebienniumshallnotreverttothecreditofthe
15generalrevenuefund.Thestatetreasurershallinvestmoneysinthefundinthesamemanner
16asotherfundsareinvested.Anyinterestandmoneysearnedonsuchinvestmentsshallbe
17creditedtothefund.
340.384.1.Eligiblestudentsmayapplytothedepartmentforfinancialassistance
2undertheprovisionsofsections340.381to340.396.If,atthetimeofapplicationforaloan,a
3studenthasformallyappliedforacceptanceatthecollege,receiptoffinancialassistanceis
4contingentuponacceptanceandcontinuedenrollmentatthecollege.Aqualifiedapplicant
5mayreceivefinancialassistanceupto[twenty] thirtythousanddollarsforeachacademic
6yearheorsheremainsastudentingoodstandingatthecollege,providedthatthecumulative
7totalshallnotexceed[eighty] onehundredtwentythousanddollarsperqualifiedapplicant.
8Aneligiblestudentmayapplyforfinancialassistanceunderthissectionatanypointinhisor
9hereducationalcareeratthecollege,howeveranysuchfinancialassistanceshallonlybe
HB403 2 10awardedforcurrentorfutureacademicyears,asapplicable,andshallnotbeawardedforany
11academicyearcompletedpriortothetimeofapplication.
12 2.Upto[six]twelvequalifiedapplicantsperacademicyearmaybeawardedloans
13undertheprovisionsofsections340.381to340.396.Thedepartmentmayincreasebeyond
14twelvethenumberofqualifiedapplicantsthatmaybeawardedsuchloansperacademic
15yeariftheamountofanyadditionalmoneysfromprivategrants,gifts,donations,
16devises,orbequestsofmoneys,funds,realorpersonalproperty,orotherassets
17depositedintheveterinarystudentloanpaymentfundallowsthefullfundingofsuch
18increaseinthenumberofapplicants.Priorityforloansshallbegiventoeligiblestudents
19whohaveestablishedfinancialneed.Allfinancialassistanceshallbemadefromfunds
20creditedtotheveterinarystudentloanpaymentfund.
340.387.1.Thedepartmentofagriculturemayenterintoacontractwitheach
2qualifiedapplicantreceivingfinancialassistanceundertheprovisionsofsections340.381to
3340.396.Suchcontractshallspecifytermsandconditionsofloanforgivenessthrough
4qualifiedemploymentaswellastermsandconditionsforrepaymentoftheprincipaland
5interest.
6 2.Thedepartmentshallestablishschedulesforrepaymentoftheprincipalandinterest
7onanyfinancialassistancemadeundertheprovisionsofsections340.381to340.396.
8Interestataratesetbythedepartment,withtheadviceoftheadvisorypanelcreatedinsection
9[340.341] 340.375, shallbechargedfromthetimeofthepaymentoffinancialassistanceon
10allfinancialassistancemadeundertheprovisionsofsections340.381to340.396,butthe
11interestandprincipalofthetotalfinancialassistancegrantedtoaqualifiedapplicantatthe
12timeofthesuccessfulcompletionofadoctorofveterinarymedicinedegreeprogramshallbe
13forgiventhroughqualifiedemployment.
14 3.Foreachyearofqualifiedemploymentthatanindividualcontractstoserveinan
15areaofdefinedneed,thedepartmentshallforgiveupto[twenty] thirtythousanddollarsand
16accruedinterestthereononbehalfoftheindividualforfinancialassistanceprovidedunder
17sections340.381to340.396.
âś”
HB403 3