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 have at least $10,000 in student loan debt. Eligible applicants will receive a disbursement of $10,000 towards their student loan principal for each of their first five years of employment, up to a maximum total of $40,000, as long as they maintain their employment and 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 administer the program and provide loan repayment assistance. The fund will also accept grants and donations to support its purpose. The bill amends RSA 106-B by inserting a new section (106-B:1-a) to outline the program's details and establishes a new subparagraph in RSA 6:12 regarding the dedicated fund. The program is set to take effect on July 1, 2025, and while the fiscal impact is indeterminate, the Department of Safety estimates that the program could cost between $100,000 to $500,000 in the first two years, potentially increasing to $500,000 to $1,000,000 in subsequent years, depending on the number of eligible state troopers.

Statutes affected:
Introduced: 6:12
As Amended by the Senate: 6:12