SB 1142 - Bill Information - Missouri Senate

SB 1142 - Graham, Chuck

Explicitly grants MOHELA the ability to sell assets, and specifies the manner in which proceeds from such assets may be utilized

Sponsor

Graham, Chuck

LR Number

5334L.01I

Title

SB 1142

House Handler

N/A

Journal Page

S386

Effective Date

August 28, 2006

Committee

Education

Current Status

Second Read and Referred S Education Committee

List of 2006 Senate Bills

No amendments available

SB 1142 - This act explicitly grants the Missouri Higher Education Loan Authority (MOHELA) the ability to sell or liquidate any asset of the authority. The term "asset" is defined in the act. The act specifies that proceeds from such assets shall be either utilized to carry out the purposes of the authority or be deposited into a fund, newly created by the act. Moneys in the fund shall be only utilized for purposes specified in the act, including the funding of student loans, scholarships, endowed professorships, and capital projects. The act stipulates that proceeds of the authority shall not be utilized for the payment of debts. DONALD THALHUBER