summary
Introduced
02/06/2026
02/06/2026
In Committee
02/24/2026
02/24/2026
Crossed Over
Passed
Dead
Introduced Session
104th General Assembly
Bill Summary
Amends the Workforce Development through Charitable Loan Repayment Act. Changes the definition of "qualified community foundation" to mean a community foundation or similar publicly supported organization that is organized or operating in the State and that (i) for applications submitted before July 1, 2025, substantially complies with the national standards for U.S. community foundations established by the Community Foundations National Standards, (ii) for applications or renewals submitted on or after July 1, 2025 and before July 1, 2026, has received or applied for the Community Foundations National Standards accreditation seal, or (iii) for applications or renewals submitted on or after July 1, 2026, has received the Community Foundations National Standards accreditation seal. Effective immediately.
AI Summary
This bill amends the Workforce Development through Charitable Loan Repayment Act to update the definition of a "qualified community foundation," which is a type of organization that can help workers repay student loans. Previously, a qualified community foundation had to substantially comply with national standards for such foundations. Now, the bill establishes a phased approach to accreditation: for applications submitted before July 1, 2025, the foundation must substantially comply with these national standards; for applications or renewals between July 1, 2025, and July 1, 2026, the foundation must have either received or applied for the accreditation seal; and for applications or renewals on or after July 1, 2026, the foundation must have received the accreditation seal. This change aims to encourage community foundations to formally achieve national accreditation to participate in the loan repayment program.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Assigned to Revenue (on 02/24/2026)
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