Synopsis As Introduced Creates the Loan Repayment Assistance for Physicians Act. Requires the Department of Public Health to establish an educational loan repayment assistance program for physicians who practice in Illinois. Provides that beginning July 1, 2004, 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 physician, the Department shall, subject to appropriation, award a grant to that person in an amount equal to the amount in educational loans that the person must repay that year. 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 for 3 years shall repay the Department a sum equal to 3 times the amount received under the program. Effective July 1, 2004.
Fiscal Note (Department of Public Health)
The total potential fiscal impact for House Bill 6552 could range from $125,073,000 to $625,073,000. The actual fiscal impact would be determined by the funds actually appropriated to the program by the General Assembly.