SEARCH SITE

VIRGINIA LAW PORTAL

SEARCHABLE DATABASES

ACROSS SESSIONS

Developed and maintained by the Division of Legislative Automated Systems.

2001 SESSION

  • | print version

HB 1697 Low interest loans for teachers.

Introduced by: Viola O. Baskerville | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Department of Housing and Community Development; low interest loans for teachers. Requires the Director of the Department of Housing and Community Development to develop and administer, with such funds as may be made available or may be used for such purposes, a mortgage loan program for teachers under contract with a Virginia school board that shall provide for interest rates below the prevailing rate of interest in Virginia for similar programs and be conditioned on the agreement by such teachers to teach in Virginia for a minimum of three years. The program may provide for penalties for breaching the agreement to teach in Virginia for a minimum of three years that may include, but need not be limited to, increases in interest rates. The Board will advise the Department and the Director in the development of this teacher loan program.


FULL TEXT

HISTORY