Bill > SB501

This bill establishes a new veterinary loan repayment grant program, administered by the Higher Educational Aids Board, to help veterinarians in rural counties repay their educational loans incurred to become qualified to practice veterinary medicine in the state. To be eligible for these grants, individuals must be either in their final year of veterinary school or have graduated within the last seven years, have at least $25,000 in student loan debt related to their veterinary education, and have secured or committed to full-time employment as a veterinarian for at least one year in a rural county, with at least 50% of their work focused on farm animals. The grant amount can cover the total outstanding educational debt, up to $25,000 per year of service, with a maximum total award of $100,000, and payments are made annually after the veterinarian completes each year of service. Furthermore, this bill also exempts any amounts received from this grant program from state income tax for taxable years beginning after December 31, 2024, and the program's initial applicability begins with individuals graduating from veterinary school in 2025.

Budget and Finance, Education

https://docs.legis.wisconsin.gov/2025/proposals/reg/sen/bill/sb501