SB 529 - This act modifies provisions relating to the Large Animal Veterinary Medicine Loan Repayment Program. Under the act, the Missouri Department of Agriculture shall not grant repayment for more than twelve veterinarians each year, instead of six.
The act renames the "Dr. Merril Townley Large Animal Veterinary Student Loan Program" to the "Dr. Merril Townley and Dan Brown Large Animal Veterinary Student Loan Program".
The act expands the sources of funding for the Program to include any private grant, gift, donation, device, or bequest of moneys, funds, real or personal property, or other assets.
Under the act, a qualified applicant may receive financial assistance under the Program up to thirty thousand dollars for each academic year, instead of twenty thousand dollars, provided that the cumulative total shall not exceed one hundred twenty thousand dollars per qualified applicant, instead of eighty thousand dollars.
The act provides that up to twelve, instead of six, qualified applicants per academic year may be awarded loans under the Program. The Department may increase the number of qualified applicants above twelve that may be awarded such loans per academic year if the amount of any additional moneys received from private contributions or other assets deposited in the Veterinary Student Loan Payment Fund allows the full funding of such increase in the number of applicants.
Finally, under the act, for each year of qualified employment that each individual contracts to serve in an area of defined need, the Department shall forgive up to thirty thousand dollars with accrued interest, instead of twenty thousand dollars, as provided under the act.
This act is substantially similar to provisions in the truly agreed to and finally passed SS/HB 202 (2023), the perfected HB 403 (2023), provisions in the truly agreed to and finally passed SS/SCS/HCS/HB 417 (2023), provisions in the truly agreed to and finally passed HS/HCS/SS/SB 138 (2023).
JULIA SHEVELEVA