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Bill > HB553


KY HB553

KY HB553
AN ACT relating to the Kentucky rural veterinary student loan repayment program and making an appropriation therefor.


summary

Introduced
02/14/2024
In Committee
03/26/2024
Crossed Over
03/15/2024
Passed
03/28/2024
Dead
Signed/Enacted/Adopted
04/10/2024

Introduced Session

2024 Regular Session

Bill Summary

Establishes the Kentucky Rural Veterinary Medicine Student Loan Repayment Program for an eligible livestock practitioner who engages in veterinary medicine in an underserved rural area or veterinary shortage area for five consecutive years; allows a livestock practitioner in an underserved rural area to practice mixed animal medicine with a minimum of 30 percent work dedicated to livestock; defines “underserved rural area” as a city having a population of less than 25,000 and lying more than 20 miles from a city having a population of more than 50,000; authorizes the Kentucky Higher Education Assistance Authority to promulgate administrative regulations; sets forth program eligibility requirements; authorizes the authority to award loan repayment benefits to applicants selected by the Veterinary Student Loan Repayment Selection Committee; establishes compliance requirements; creates the rural veterinary care trust fund; establishes purposes of the fund; and requires a report to the Legislative Research Commission, Interim Joint Committee on Appropriations and Revenue, and Interim Joint Committee on Agriculture; APPROPRIATION.

AI Summary

This bill establishes the Kentucky Rural Veterinary Medicine Student Loan Repayment Program to provide student loan repayment for eligible livestock practitioners who practice in underserved rural areas or veterinary shortage areas in Kentucky for five consecutive years. The Kentucky Higher Education Assistance Authority will administer the program and award loan repayment benefits to eligible applicants selected by the Veterinary Student Loan Repayment Selection Committee. The program sets forth eligibility requirements, compliance rules, and annual award amounts up to $87,500 or the outstanding student loan balance, whichever is less. The bill also creates a rural veterinary care trust fund to support the program and requires annual reporting to the Legislative Research Commission.

Committee Categories

Budget and Finance, Education

Sponsors (18)

Last Action

became law without Governor's Signature (Acts Ch. 161) (on 04/10/2024)

bill text


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