The act updates the veterinary education loan repayment program in the following ways:
- Increases the number of qualified applicants per year from 4 to 6;
- Eliminates the requirement that an applicant must have graduated from an accredited veterinary school in 2017 or later;
- Increases the total amount an applicant is eligible for over a 4-year period from $70,000 to $90,000;
- Increases the yearly repayment amounts for successful applicants; and
- Requires the state treasurer to transfer $540,000 from the general fund to the veterinary education loan repayment fund on September 1, 2023.
APPROVED by Governor June 2, 2023
EFFECTIVE August 7, 2023
NOTE: This act was passed without a safety clause and takes effect 90 days after sine die.
(Note: This summary applies to this bill as enacted.)