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09500HB3653ham001 |
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LRB095 09959 KBJ 34020 a |
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| agree to practice in a low-income area for a contractual period |
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| of at least 3 years, but no longer than 5 years. A physician |
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| participating in the Loan Repayment Program shall receive |
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| $10,000 per year for the contractual period to be used towards |
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| the repayment of student loans for medical school. The Medical |
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| School Loan Repayment Fund is created as a special fund in the |
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| State treasury. Moneys in the Fund shall be used, subject to |
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| appropriation, by the Department to finance the Loan Repayment |
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| Program. |
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| (b) The Department must do the following: |
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| (1) develop and make available application forms for |
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| assistance under this Act; |
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| (2) administer use of moneys in the Medical School Loan |
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| Repayment Fund; and |
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| (3) exercise all powers necessary to implement this |
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| Act, including adopting rules.
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| (c) If funding available from the Medical School Loan |
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| Repayment Fund is insufficient to provide assistance to all |
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| physicians who apply for loan repayment assistance under this |
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| Act, the Department may, at its discretion, reduce the payments |
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| to each eligible physician by a pro rata amount in a manner |
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| designed to maximize the number of physicians who may receive |
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| loan repayment assistance under this Act.
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| (d) In addition to any other civil or criminal penalties |
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| that may be imposed by law, any physician who fails or refuses |
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| to fulfill the terms required under this Section is in breach |