Section 188-D:18-f Workforce Incentive Program.
I. The postsecondary education commission shall administer the workforce incentive program in accordance with state statutes and accounting procedures. The program shall include a forgivable loan component and a loan repayment component. All funds received pursuant to the forgivable loan component under RSA 188-D:18-g and the loan repayment component under RSA 188-D:18-h shall be nonlapsing and continually appropriated to the postsecondary education commission for the purposes of this program. The commission shall have the authority to:
(a) Conduct the programs authorized under this subdivision.
(b) Receive and disburse moneys in accordance with this subdivision.
(c) Make application for and receive available federal, public, or private funds.
(d) Adopt rules, pursuant to RSA 541-A, to carry out components of the program, including establishing a reasonable maximum amount of money provided to a recipient under the program, a reasonable frequency of such loans, setting minimum qualifications of applicants, determining the terms of repayment and a schedule and amount of loan repayment, making grants, and paying loan incentives under this subdivision.
(e) Maintain such records and submit such reports as may be required.
II. Application for and disbursement of all moneys shall be made in the form and manner designated by the postsecondary education commission. No moneys may be disbursed by the postsecondary education commission under this subdivision until the postsecondary education commission has adopted rules under subparagraph I(d), and has filed such rules with the fiscal committee of the general court and the governor and council.
Source. 2003, 235:1. 2006, 28:3, eff. July 1, 2006.