The "Rural Montana Veterinary Workforce Act" aims to establish a Veterinary Training Loan Program to incentivize veterinary students to practice in underserved areas of Montana. The program will provide loans of up to $100,000 to students enrolled in accredited veterinary medicine programs who commit to a minimum of four years of service in these areas, with a preference for Montana residents. The loans will be forgiven at a rate of one-quarter of the total amount for each year of full-time practice, and specific repayment provisions are included for those who do not meet their commitments. The program will be administered by the commissioner of higher education and will include an advisory committee to assist in its management.

Additionally, the bill amends existing tax laws to ensure that any forgiven loans under this program will not be considered taxable income. It appropriates $425,000 from the general fund for the program and establishes a timeline for its implementation, with an effective date of July 1, 2025, and a termination date of June 30, 2035. The legislation also mandates biennial reporting to the legislature on the program's effectiveness and participant status, ensuring ongoing evaluation of its impact on addressing the veterinary workforce needs in rural Montana.

Statutes affected:
LC Text: 15-30-2120
HB0860_1(1): 15-30-2120
HB0860_1(2): 15-30-2120
HB0860_1(3): 15-30-2120
HB0860_1(4): 15-30-2120
HB0860_1: 15-30-2120
HB0860_2(1): 15-30-2120
HB0860_2(2): 15-30-2120
HB0860_2(3): 15-30-2120
HB0860_2(4): 15-30-2120
HB0860_2(5): 15-30-2120
HB0860_2(6): 15-30-2120
HB0860_2: 15-30-2120
HB0860_3(1): 15-30-2120
HB0860_3(10): 15-30-2120
HB0860_3(11): 15-30-2120
HB0860_3(2): 15-30-2120
HB0860_3(3): 15-30-2120
HB0860_3(4): 15-30-2120
HB0860_3(5): 15-30-2120
HB0860_3(6): 15-30-2120
HB0860_3(7): 15-30-2120
HB0860_3(8): 15-30-2120
HB0860_3(9): 15-30-2120
HB0860_3: 15-30-2120
HB0860_X(1): 15-30-2120
HB0860_X(2): 15-30-2120
HB0860_X(3): 15-30-2120
HB0860_X(4): 15-30-2120
HB0860_X(5): 15-30-2120
HB0860_X(6): 15-30-2120
HB0860_X: 15-30-2120