Bill > HB66

This bill modifies the Health Professional Loan Repayment Act in New Mexico, requiring recipients of loan repayment awards to currently practice in the state or commit to relocating and starting practice there within 90 days of receiving the award, with disbursement contingent on commencing practice. The Higher Education Department will determine and issue award amounts, with specific criteria including prioritizing licensed physicians who will receive a minimum of $75,000 annually for four years, while other health professionals will have a three-year award period, with all awards capped at the total eligible education debt. The bill also introduces penalties for breaching contract terms, allowing the department to assess up to the full disbursed award amount plus an interest fee of up to 18%, unless extenuating circumstances are accepted, and clarifies that the Health Professional Loan Repayment Fund, a dedicated fund for these awards, will continue to be administered by the department, with at least 50% of its funds annually reserved for licensed physicians.

Health and Social Services

https://www.nmlegis.gov/Legislation/Legislation?chamber=H&legtype=B&legno=66&year=26