HCS/HB 693 - This act transfers administration of the Large Animal Veterinary Medicine Loan Repayment Program from the Missouri Veterinary Medical Board to the Department of Agriculture. The number of veterinarians to whom repayment can be granted each year is increased from five to six and the number of years an individual must agree to work in an area of defined need is decreased from five to four. The maximum amount of loan repayment that may be paid on behalf an individual per year of service is increased from ten thousand to twenty thousand dollars. The act creates the Large Animal Veterinary Student Loan Program, which makes loans available to a maximum of six eligible students per year at the College of Veterinary Medicine at the University of Missouri-Columbia. A student may receive loan funding for each year he or she remains in good standing at the College, up to $80,000. Loan principal and interest shall be forgiven provided the loan recipient practices large animal veterinary medicine in underserved areas of the state as determined by the Department.
The director of the Department shall appoint an advisory panel to make recommendations regarding the administration of both the Large Animal Veterinary Medicine Loan Repayment Program and the Large Animal Veterinary Student Loan Program. The advisory panel shall consist of three licensed veterinarians, the dean of the College of Veterinary Medicine, and a public member representing the agricultural sector.
The act creates the Large Animal Veterinary Student Loan Payment Fund into which all funds appropriated and donated for the Large Animal Veterinary Student Loan Program shall be placed. Monies in the fund may be used for the student loans as well as for any necessary cost incurred by the Department to administer the loan program.
The Large Animal Veterinary Student Loan Program shall expire on June 30, 2013.
This act is similar to the perfected SB 320 (2007).
ERIKA JAQUES