A BILL TO BE ENTITLED
AN ACT TO AMEND THE fUTURE TEACHERS OF NORTH CAROLINA SCHOLARSHIP LOAN FUND BY ADDING FIFTY SCHOLARSHIP LOANS FOR STUDENTS WHO AGREE TO BECOME CERTIFIED IN MATH OR SCIENCE, TEACH FULL-TIME IN THAT AREA IN A NORTH cAROLINA PUBLIC SCHOOL FOR THREE YEARS WITHIN FIVE YEARS AFTER GRADUATION AND MEET CERTAIN OTHER REQUIREMENTS.
The General Assembly of North Carolina enacts:
SECTION 1.  G.S. 116‑209.38 reads as rewritten:
"§ 116‑209.38.  Future Teachers of North Carolina Scholarship Loan Fund.
(a)	There is established the Future Teachers of North Carolina Scholarship Loan Fund. The purpose of the Fund is to provide a two‑year scholarship loan of six thousand five hundred dollars ($6,500) per year for any North Carolina student pursuing a college degree to teach in the public schools of the State. The scholarship loan shall be paid only for the student's junior and senior years. The scholarship loan is available if the student is enrolled in a State institution of higher education or a private institution of higher education located in this State that has an accredited teacher preparation program for students planning to become certified teachers in North Carolina. The State Education Assistance Authority shall administer the Fund and shall award 150 scholarship loans annually.
(b)	The Board of Governors of The University of North Carolina, in consultation with the State Board of Education and the State Board of Community Colleges, shall develop the criteria for awarding the scholarship loans under this section and shall adopt very stringent standards for awarding these scholarship loans to ensure that only the best students receive them.  
			(b1)	Additional criteria for awarding the first 100 scholarship loans under this section shall include all of the following:
(1)	The student is one who either: (i) maintained a "B" or better average in college and is enrolled as a junior or senior in a teacher preparation program at any of the institutions described by subsection (a) of this section; or (ii) completed a college transfer curriculum at a community college in the State's Community Colleges System, maintained a "B" or better average in the community college courses, and is accepted and enrolled in a teacher preparation program at one of the institutions described by subsection (a) of this section.
(2)	The student agrees to become certified in math, science, special education, or English as a Second Language and teach full‑time in that subject area in a North Carolina public school for three years within five years after graduation.
(3)	Any additional criteria that the Board of Governors of The University of North Carolina, in consultation with the State Board of Education and the State Board of Community Colleges, considers necessary to administer the Fund effectively.
(b2)	Additional criteria for awarding the remaining 50 scholarship loans under this section shall include all of the following:
(1)	The student is one who either: (i) maintained a "B" or better average in college and is enrolled as a junior or senior in a teacher preparation program at any of the institutions described by subsection (a) of this section; or (ii) completed a college transfer curriculum at a community college in the State's Community Colleges System, maintained a "B" or better average in the community college courses, and is accepted and enrolled in a teacher preparation program at one of the institutions described by subsection (a) of this section.
(2)	The student agrees to become certified in math or science and teach full‑time in that subject area in a North Carolina public school for three years within five years after graduation.
(3)	Any additional criteria that the Board of Governors of The University of North Carolina, in consultation with the State Board of Education and the State Board of Community Colleges, considers necessary to administer the Fund effectively.
(c)	If a student who is awarded a scholarship loan under this section fails to comply with the provisions of this section or the terms of the agreement awarding the scholarship loan, then the student shall repay the full amount of the scholarship loan provided to the student and the appropriate amount of interest as determined by the State Education Assistance Authority.
(d)	The Board of Governors of The University of North Carolina, the State Board of Education, and the State Board of Community Colleges shall: (i) prepare a clear written explanation of the Future Teachers of North Carolina Scholarship Fund and the information regarding the availability and criteria for awarding the scholarship loans, and (ii) shall provide that information to the appropriate counselors in each local school system and the appropriate institutions of higher education and shall charge those counselors to inform students about the scholarship loans and to encourage them to apply for the scholarship loans.
(e)	The Board of Governors of The University of North Carolina shall adopt rules to implement this section.
(f)	The Board of Governors of The University of North Carolina shall report to the Joint Legislative Education Oversight Committee by March 1 each year regarding the Fund and scholarship loans awarded from the Fund. (2005‑276, s. 9.11(a).)"
SECTION 2.  Section 9.11(b) of S.L. 2005‑276 reads as rewritten:
"SECTION 9.11.(b)  Of the funds appropriated in this act to the State Education Assistance Authority the sum of six hundred fifty thousand dollars ($650,000) for the 2005‑2006 fiscal year and the sum of one million six hundred twenty‑five thousand dollars ($1,625,000) for the 2006‑2007 fiscal year shall be used to implement this act."
SECTION 3.  This act becomes effective July 1, 2006.