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Relating to a student loan repayment assistance program for certain persons who agree to employment as full-time peace officers in this state.
Estimated Two-year Net Impact to General Revenue Related Funds for SB 16, Committee Report 1st House, Substituted: a negative impact of ($12,287,852) through the biennium ending August 31, 2021.
The bill would make no appropriation but could provide the legal basis for an appropriation of funds to implement the provisions of the bill.
SB 16 would establish a loan repayment assistance program for the repayment over a four-year period of the total outstanding balance, plus interest, of a peace officer's eligible loans for eligible peace officers who agree to continued employment as full-time peace officers for a specified period.
Texas Action recommends opposing SB 16 because it infringes upon principles of free markets and limited government. It is not the proper role of government to repay an individual's student loans. If there is a need for employees in a certain area, then market forces should provide a natural incentive to attract those employees; there is no need for artificial incentives from the government.