North Carolina § 116-209 - 27. Administration of scholarships previously awarded by Teaching Fellows Program.

§ 116-209. 27. Administration of scholarships previously awarded by Teaching Fellows Program.

The Authority shall, as of March 1, 2015, administer all outstanding scholarship loans previously awarded by the former North Carolina Teaching Fellows Commission and subject to repayment under the former Teaching Fellows Program administered pursuant to Part 2 of Article 24C of Chapter 115C of the General Statutes. Scholarship loans previously awarded by the North Carolina Teaching Fellows Commission by notes payable to the Commission shall be deemed payable to the Authority, as the successor in interest to the North Carolina Teaching Fellows Commission, by the same terms stated in the note. All funds received by the Authority in association with its administration of the Teaching Fellows Program, including all funds received as repayment of scholarship loans and all interest earned on these funds, shall be deposited into the Forgivable Education Loans for Service Fund established in G.S. 116-209.45. History (2014-100, s. 11.10(b); 2017-57, s. 10A.3(g).) Cross References. - As to North Carolina Teaching Fellows Program, see Part 3 of Article 23 of Chapter 116 , G.S. 116-209.60 et seq. Editor's Note. - Session Laws 2014-100, s. 11.10(c), provides: "The North Carolina Teaching Fellows Commission shall deliver to the State Education Assistance Authority, in a format acceptable to the Authority, complete electronic and paper records on (i) all outstanding scholarship loans previously awarded but not canceled by service or otherwise satisfied in full as of the date of delivery, including records of applicable teaching service performed to that date, and (ii) aggregate historical data on the numbers of loans made that are no longer active and, of those, numbers and dollars paid in cash, paid in service, or written off due to death, disability, or uncollectible debt. "Prior to the transfer of any such outstanding scholarship loan and related records, the North Carolina Teaching Fellows Commission shall discharge its reporting obligations under G.S. 147-86.26 and specifically confirm for the Authority that no account subject to write-off in accordance with the Statewide Accounts Receivable Program has been transferred under this section." Session Laws 2014-100, s. 11.10(d), provides: "Notwithstanding G.S. 115C-363.23A(f), the Public School Forum may use up to four hundred thousand dollars ($400,000) during the 2014-2015 fiscal year from the Teaching Fellows Trust Fund balance for costs associated with administration of the Teaching Fellows Program, provided that these funds are withdrawn from the Teaching Fellows Trust Fund balance prior to February 16, 2015." Session Laws 2014-100, s. 1.1, provides: "This act shall be known as 'The Current Operations and Capital Improvements Appropriations Act of 2014.'" Session Laws 2014-100, s. 38.4, provides: "Except for statutory changes or other provisions that clearly indicate an intention to have effects beyond the 2014-2015 fiscal year, the textual provisions of this act apply only to funds appropriated for, and activities occurring during, the 2014-2015 fiscal year." Session Laws 2014-100, s. 38.7, is a severability clause. Effect of Amendments. - Session Laws 2017-57, s. 10A.3(g), effective July 1, 2017, rewrote subsection (a) which formerly read: "The Authority shall, as of March 1, 2015, administer all outstanding scholarship loans previously awarded by the former North Carolina Teaching Fellows Commission and subject to repayment under the former Teaching Fellows Program."