Bill > HB860

This bill establishes the Rural Montana Veterinary Workforce Act, which creates a veterinary training loan program designed to address veterinarian shortages in rural, underserved areas of Montana. The program will provide up to four new students each year with loans of up to $25,000 annually for a 4-year veterinary medicine program or up to $33,333 for a 3-year program, with a total loan limit of $100,000 per participant. Students must be enrolled in an accredited veterinary medicine program, maintain good academic standing, and commit to practicing veterinary medicine full-time in an underserved Montana area for 4 years after graduation. The loan will be forgiven incrementally, with one-quarter of the total loan forgiven for each 12-month period of service in an underserved area. If participants fail to meet the program requirements, they must repay the remaining loan balance within 10 years, with interest not exceeding 8% annually. The bill gives preference to Montana residents and establishes an advisory committee to help administer the program. Additionally, the bill amends state tax code to ensure that any forgiven veterinary training loan is not considered taxable income. The program is funded with a $425,000 appropriation and is set to run from July 1, 2025, to June 30, 2035, with the goal of improving veterinary services in rural Montana communities.

Agriculture and Natural Resources, Budget and Finance, Education

https://bills.legmt.gov/#/laws/bill/2/LC2945