The proposed bill establishes the Special Education Teacher Forgivable Loan Program Act in Nebraska, aimed at addressing the shortage of special education teachers in the state's elementary and secondary schools. The Act outlines the creation of a forgivable loan program administered by the State Department of Education, which will provide financial assistance to eligible students pursuing certification as special education teachers. To qualify, students must be enrolled in an accredited institution in Nebraska, maintain good academic standing, and commit to teaching in the state for a specified period after graduation.

Under the program, eligible students can receive forgivable loans to cover in-state tuition costs, with the requirement that they enter into a contract with the department. The contract stipulates that students must begin teaching special education within one year of graduation and fulfill a teaching commitment of five consecutive years or an equivalent number of years based on the loans received. The bill also includes provisions for loan forgiveness based on compliance with these terms, as well as consequences for non-compliance, including the obligation to repay the loans with interest. Additionally, the State Board of Education is authorized to adopt rules and regulations to facilitate the implementation of the program.