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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 2nd House, Substituted: a negative impact of ($4,265,715) 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 of student loan debt over a five-year period for peace officers who meet eligibility requirements. The total amount of repayment assistance to an eligible peace officer would be capped at $20,000.
Texas Action recommends opposing SB 16 because it infringes upon principles of free markets and limited government. It is not a legitimate role of the government to provide loan assistance, the burden of which would fall to taxpayers already struggling to repay their own student loans.