HB 4142 Summary

• Establishes a teacher shortage prevention program administered by the Michigan Finance Authority to award grants to eligible teachers in designated shortage areas.

• Provides grants of up to $1,000 per year for a maximum of 5 consecutive years to help teachers pay off qualified educational loans for tuition and education-related expenses.

• Requires teachers to be Michigan residents, have no loan defaults, accept employment or continue teaching in identified teacher shortage areas, and apply by July 1 each year.

• Creates a separate teacher shortage prevention grant fund in the state treasury, funded from appropriations and other sources, with earnings credited back to the fund.

• Requires the Superintendent of Public Instruction to report biennially on teacher shortages, retirement patterns, and 5-year teacher demand projections; requires the Michigan Finance Authority to report annually on program participation and effectiveness.