Illinois General Assembly - Bill Status for HB5566

Creates the Loan Repayment Assistance for Nurses Act. Requires the Department of Public Health to establish an educational loan repayment assistance program for nurses who practice in Illinois in Designated Shortage Areas. Provides that beginning July 1, 2007, the Department shall consider applications for assistance under the program. Sets forth eligibility requirements for applicants. Provides that for each year that a qualified applicant practices full-time as a nurse in a Designated Shortage Area, the Department shall, subject to appropriation, award a grant to that person in an amount equal to 5% of the total amount in educational loans that the person must repay. Provides that the total amount in grants that a person may be awarded shall not exceed $25,000. Provides that loan payment recipients who fail to practice full-time in Illinois in Designated Shortage Areas for 5 years shall repay the Department a sum equal to 3 times the amount received under the program.

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