Bill > SB8

This bill establishes the Veterinary Medical Loan Repayment Program in New Mexico to address veterinarian shortages in underserved areas, particularly for food-animal veterinary services. The program allows up to ten qualified veterinarians per year to receive loan repayment assistance in exchange for working full-time in designated underserved areas of the state. Eligible participants must be New Mexico residents, licensed veterinarians, and citizens or permanent residents who work in private practice providing food-animal veterinary services. The loan repayment awards will range from $15,000 in the first two years to $25,000 in the second two years, with a total maximum of $80,000 per recipient. Recipients must commit to a minimum four-year service period, and failure to comply with the contract may result in penalties up to three times the award amount plus interest. A veterinarian selection committee composed of state officials will oversee the program, designate underserved areas, and help determine applicant eligibility. The bill creates a dedicated veterinary medical loan repayment fund in the state treasury, which will be funded through appropriations, donations, and investments. The Higher Education Department will be responsible for administering the program and will be required to provide annual reports to the governor and legislature detailing the program's outcomes and impact.

Education

https://www.nmlegis.gov/Legislation/Legislation?chamber=S&legtype=B&legno=8&year=25