The proposed legislation establishes the Psychological and Neuropsychological Testing Workforce Scholarship, Stipend, and Incentive Program, which will be administered by the Arkansas Psychology Board. This program aims to address the workforce shortage in neuropsychological testing services by providing financial support, including scholarships, stipends, and loan repayment assistance, to individuals pursuing careers in this field. The Arkansas Psychology Board is tasked with approving these financial aids based on standards set by the General Assembly and the board itself.

Funding for the program will come from various sources, including state appropriations, federal funds, grants, and donations. The Arkansas Psychology Board will have the authority to manage the program, determine eligibility for applicants, and monitor the distribution of funds. Eligible candidates include Arkansas residents enrolled in psychology programs or licensed professionals providing testing services. The program also allows for the renewal of scholarships and stipends based on the availability of funds and the recipient's continued eligibility.