Illinois · statute · 110 ILCS 998 · 13 active provisions
Short title. This Article may be cited as the Workforce Development through Charitable Loan Repayment Act. References in this Article to "this Act" mean this Article.(Source: P.A. 103-592, eff. 6-7-24; 104-417, eff. 8-15-25.)
Purpose. The purpose of this Act is to create a private sector incentive for qualified workers to work and live in eligible areas while also reducing the student debt burden of those workers. (Source: P.A. 103-592, eff. 6-7-24.)
Definitions. As used in this Act: "Commission" means the Illinois Student Assistance Commission. "Full-time employee" means an individual who is employed for consideration for at least 35 hours each week. "Program" means the Workforce Development Through Charitable Loan Repayment Program established under this Act. "Qu…
Establishment of the Program; advertisement. The Workforce Development through Charitable Loan Repayment Program is hereby created for the purpose of facilitating student loan repayment assistance for qualified workers. The Program shall be administered by qualified community foundations with the assistance of the Comm…
Approval to participate in the Program. (a) A qualified community foundation shall apply to the Commission, in the form and manner prescribed by the Commission, for eligibility to participate in the Program under this Act. Each application shall include: (1) documentary evidence that the qualified community foundation…
Applications. Each qualified community foundation shall establish an application process for qualified workers to receive student loan repayment assistance from the qualified community foundation in accordance with this Act and rules adopted for the implementation of this Act by the Commission. If necessary due to limi…
Eligibility; work requirement. Each individual qualified community foundation shall certify the eligibility of qualified workers to receive student loan repayment assistance and establish work requirements in accordance with this Act, rules adopted by the Commission, and the requirements of the individual qualified com…
Administration; rules. Qualified community foundations shall administer the Program under this Act and shall issue to qualified workers any forms required by the Commission or the Department of Revenue. The Commission shall adopt rules for the Program's effective implementation, except that rules regarding the document…
Reporting. Each qualified community foundation shall submit an annual report to the Commission summarizing its loan repayment activity under the Program. Reports under this Section shall be submitted in the form and manner prescribed by the Commission. (Source: P.A. 103-592, eff. 6-7-24.)
(Amendatory provisions; text omitted). (Source: P.A. 103-592, eff. 6-7-24; text omitted.) (110 ILCS 998/Art. 15 heading) ARTICLE 15.(Amendatory provisions; text omitted)(Source: P.A. 103-592, eff. 6-7-24; text omitted.) (110 ILCS 998/Art. 20 heading) ARTICLE 20.(Amendatory provisions; text omitted)(Source: P.A. 103-592…
No acceleration or delay. Where this Act makes changes in a statute that is represented in this Act by text that is not yet or no longer in effect (for example, a Section represented by multiple versions), the use of that text does not accelerate or delay the taking effect of (i) the changes made by this Act or (ii) pr…
Severability. The provisions of this Act are severable under Section 1.31 of the Statute on Statutes. (Source: P.A. 103-592, eff. 6-7-24.)
Effective date. This Act takes effect upon becoming law, except that Article 65 takes effect July 1, 2024, Articles 25, 75, 80, 93, 125, 135, and 140 take effect January 1, 2025, and Article 150 takes effect July 1, 2027.(Source: P.A. 103-592, eff. 6-7-24; 104-4, eff. 6-16-25; 104-532, eff. 6-26-26.)