Bill > HB304

This bill establishes the Law Enforcement Officer Loan Repayment Act, which creates a program to help law enforcement officers in New Mexico repay their educational loans. The bill defines a law enforcement officer as a certified employee of a county or municipal law enforcement agency who is authorized to carry a firearm. The program will provide loan repayment awards of up to $25,000 to eligible officers who have completed at least three years of service, with priority given to officers working in areas with difficult-to-fill vacancies. To be eligible, applicants must apply through the state's Higher Education Department and can only receive assistance for undergraduate education or law enforcement training loans, excluding personal loans, scholarships with service obligations, or loans already covered by other repayment programs. Recipients must continue working as law enforcement officers and will be required to reimburse the state if they fail to comply with the contract terms. A dedicated fund will be created in the state treasury to support the program, consisting of appropriations, repayments, investments, and donations. The department will be responsible for administering the program and must submit annual reports to the governor and legislature detailing the awards granted and any contract enforcement actions. The program is set to become effective on July 1, 2025.

Government Affairs

https://www.nmlegis.gov/Legislation/Legislation?chamber=H&legtype=B&legno=304&year=25