SECOND REGULAR SESSION

HOUSE BILL NO. 1697

94TH GENERAL ASSEMBLY

INTRODUCED BY REPRESENTATIVES ZWEIFEL (Sponsor), LeVOTA, QUINN (9), DARROUGH, PAGE, OXFORD, YAEGER, SCAVUZZO, ROORDA, HARRIS (110), SCHIEFFER, ZIMMERMAN, DAUS, GRILL, WALSH, SPRENG, MEADOWS, SCHOEMEHL, CURLS AND STORCH (Co-sponsors).

                  Read 1st time January 16, 2008 and copies ordered printed.

D. ADAM CRUMBLISS, Chief Clerk

4113L.01I

AN ACT

To amend chapter 173, RSMo, by adding thereto one new section relating to the Missouri higher education loan authority.

Be it enacted by the General Assembly of the state of Missouri, as follows:

            Section A. Chapter 173, RSMo, is amended by adding thereto one new section, to be known as section 173.389, to read as follows:

            173.389. Notwithstanding any provision of law to the contrary, the proceeds of all bonds or other forms of indebtedness issued by the authority and of all fees permitted to be charged by the authority and of other revenues derived shall only be used for administering student loans, lowering student loan rates, forgiving student loans, issuing student scholarships, and for the proper administration of the authority.

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