This bill establishes the New Hampshire State Trooper Retention School Loan Debt Relief Program, aimed at addressing the shortage of state troopers in New Hampshire. The program will provide financial incentives in the form of student loan repayment assistance to new state troopers who are hired on or after July 1, 2025, and who owe at least $10,000 in student loans. Eligible applicants will receive a tax-free disbursement of $10,000 annually for the first five years of their employment, totaling a maximum of $40,000, as long as they maintain their student loan debt. The program will be administered by the Department of Safety, Division of State Police, and a dedicated fund will be established to support it.

Additionally, the bill includes an appropriation of $1 to the Department of Safety for the state trooper retention school loan debt relief fund, which will be used to manage the program and provide the necessary financial assistance. The fund will be nonlapsing and may accept grants and donations to enhance its resources. The bill also mandates the commissioner to adopt rules regarding the program's administration, including application procedures and eligibility criteria. The effective date for the program is set for July 1, 2025. Notably, the bill does not provide specific funding amounts, with estimated costs for the program ranging from $100,000 to $1,000,000 over the first five years, depending on the number of eligible state troopers.

Statutes affected:
Introduced: 6:12