AK HB320

Establishes the Alaska Qualified Employee Recruitment Loan Repayment Program to provide financial incentives for qualified employees to work in the state by repaying education loans up to $50,000.

Eligible applicants must be hired by the state as full-time employees on or after July 1, 2012, within four years of obtaining a degree in occupations with workforce shortages as jointly designated by the commissioners of administration and labor.

Repayment occurs over up to six years with accelerated payments for rural employment (25% per year for four years) and standard payments for non-rural employment (16.67% per year for six years).

Creates an Alaska Qualified Employee Recruitment Loan Repayment Program Account funded by appropriations from the state education corporation's dividend, interest earnings, federal funds, and general fund appropriations if needed.

Allows corporation dividend payments (10-35% of net income when exceeding $2,000,000 annually) to be appropriated for the program, and authorizes the Alaska Commission on Postsecondary Education to establish eligibility standards and regulations.