Assistive technology loan program created--council to promulgaterules to enforce.
191.865. 1. The Missouri assistive technology advisory council,established in section 191.853, shall establish an assistive technologyloan program. The loan program shall be funded from the assistivetechnology loan revolving fund established pursuant to section 191.867.The fund shall receive any appropriation and grant moneys received pursuantto subsection 2 of this section to provide loans for the purchase ofassistive technology devices and services, as defined in section 191.850.
2. The loan program shall provide loans for the first fiscal yearfollowing appropriation. Any matching grant moneys received by the statepursuant to * Title III of the federal Assistive Technology Act of 1998 orthrough any other applicable sources shall be used to fund the loanprogram. The state treasurer shall provide the assistive technologyadvisory council with information on the amount of moneys in the assistivetechnology loan revolving fund at the beginning of each fiscal year. Thecouncil shall quarterly expend such moneys in four equal shares to ensurethat the loan program will provide loans throughout the entire fiscal year.Any repayments or interest earned during a fiscal year shall not be usedfor loans in the current fiscal year, but shall be carried over for use inthe next fiscal year.
3. The interest rates for loans shall be lower than comparablecommercial lending rates and shall be established by the council based onthe borrower's ability to pay. Loans may be made with no interest. Loanrepayment periods shall not exceed ten years.
4. The council shall:
(1) Promulgate rules relating to borrower eligibility, interestrates, repayment terms and other matters necessary to implement the purposeof this section, including limits on the number and amounts of loans toassure the continued solvency of the fund; and
(2) File annual reports with the governor and general assembly whichshall include an accounting of the loans and repayments to the fund duringthe preceding fiscal year.
5. The council may enter into contracts as necessary to carry out thepurposes of this section, including but not limited to contracts withdisability organizations and lending institutions.
6. By no later than January 1, 2001, the council shall submit areport to the general assembly regarding any rules proposed or promulgatedfor the implementation of this program.
7. No rule or portion of a rule promulgated pursuant to the authorityof this section shall become effective unless it has been promulgatedpursuant to chapter 536, RSMo.
Assistive technology loan program created--council to promulgaterules to enforce.
191.865. 1. The Missouri assistive technology advisory council,established in section 191.853, shall establish an assistive technologyloan program. The loan program shall be funded from the assistivetechnology loan revolving fund established pursuant to section 191.867.The fund shall receive any appropriation and grant moneys received pursuantto subsection 2 of this section to provide loans for the purchase ofassistive technology devices and services, as defined in section 191.850.
2. The loan program shall provide loans for the first fiscal yearfollowing appropriation. Any matching grant moneys received by the statepursuant to * Title III of the federal Assistive Technology Act of 1998 orthrough any other applicable sources shall be used to fund the loanprogram. The state treasurer shall provide the assistive technologyadvisory council with information on the amount of moneys in the assistivetechnology loan revolving fund at the beginning of each fiscal year. Thecouncil shall quarterly expend such moneys in four equal shares to ensurethat the loan program will provide loans throughout the entire fiscal year.Any repayments or interest earned during a fiscal year shall not be usedfor loans in the current fiscal year, but shall be carried over for use inthe next fiscal year.
3. The interest rates for loans shall be lower than comparablecommercial lending rates and shall be established by the council based onthe borrower's ability to pay. Loans may be made with no interest. Loanrepayment periods shall not exceed ten years.
4. The council shall:
(1) Promulgate rules relating to borrower eligibility, interestrates, repayment terms and other matters necessary to implement the purposeof this section, including limits on the number and amounts of loans toassure the continued solvency of the fund; and
(2) File annual reports with the governor and general assembly whichshall include an accounting of the loans and repayments to the fund duringthe preceding fiscal year.
5. The council may enter into contracts as necessary to carry out thepurposes of this section, including but not limited to contracts withdisability organizations and lending institutions.
6. By no later than January 1, 2001, the council shall submit areport to the general assembly regarding any rules proposed or promulgatedfor the implementation of this program.
7. No rule or portion of a rule promulgated pursuant to the authorityof this section shall become effective unless it has been promulgatedpursuant to chapter 536, RSMo.
Assistive technology loan program created--council to promulgaterules to enforce.
191.865. 1. The Missouri assistive technology advisory council,established in section 191.853, shall establish an assistive technologyloan program. The loan program shall be funded from the assistivetechnology loan revolving fund established pursuant to section 191.867.The fund shall receive any appropriation and grant moneys received pursuantto subsection 2 of this section to provide loans for the purchase ofassistive technology devices and services, as defined in section 191.850.
2. The loan program shall provide loans for the first fiscal yearfollowing appropriation. Any matching grant moneys received by the statepursuant to * Title III of the federal Assistive Technology Act of 1998 orthrough any other applicable sources shall be used to fund the loanprogram. The state treasurer shall provide the assistive technologyadvisory council with information on the amount of moneys in the assistivetechnology loan revolving fund at the beginning of each fiscal year. Thecouncil shall quarterly expend such moneys in four equal shares to ensurethat the loan program will provide loans throughout the entire fiscal year.Any repayments or interest earned during a fiscal year shall not be usedfor loans in the current fiscal year, but shall be carried over for use inthe next fiscal year.
3. The interest rates for loans shall be lower than comparablecommercial lending rates and shall be established by the council based onthe borrower's ability to pay. Loans may be made with no interest. Loanrepayment periods shall not exceed ten years.
4. The council shall:
(1) Promulgate rules relating to borrower eligibility, interestrates, repayment terms and other matters necessary to implement the purposeof this section, including limits on the number and amounts of loans toassure the continued solvency of the fund; and
(2) File annual reports with the governor and general assembly whichshall include an accounting of the loans and repayments to the fund duringthe preceding fiscal year.
5. The council may enter into contracts as necessary to carry out thepurposes of this section, including but not limited to contracts withdisability organizations and lending institutions.
6. By no later than January 1, 2001, the council shall submit areport to the general assembly regarding any rules proposed or promulgatedfor the implementation of this program.
7. No rule or portion of a rule promulgated pursuant to the authorityof this section shall become effective unless it has been promulgatedpursuant to chapter 536, RSMo.
