House Bill 860 establishes a Veterinary Training Loan Program designed to encourage veterinary students to practice in underserved rural areas of Montana. The program offers loans up to $100,000 to students enrolled in accredited veterinary medicine programs who agree to work in these areas for at least four years. Key features include a preference for Montana residents, a structured repayment plan with loan forgiveness for each year of full-time practice, and provisions for loan repayment in cases of disability or death. If participants do not meet the program requirements, they must repay the loan within ten years.

The bill also amends existing tax law, specifically Section 15-30-2120 of the Montana Code Annotated, to ensure that forgiven loans under the Veterinary Training Loan Program are not treated as taxable income. It introduces new provisions for deductions related to federal tax credits for wages and salaries, as well as contributions to education savings accounts, with specified limits. Additionally, the bill appropriates $425,000 from the general fund for the program and sets an effective date of July 1, 2025, with a termination date of June 30, 2035. An advisory committee will be established to oversee the program, and biennial reports will be submitted to the legislature to assess its effectiveness.

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