The bill amends New Jersey's Primary Care Practitioner Loan Redemption Program, renaming it the Health Care Professional Loan Redemption Program and expanding eligibility criteria. It broadens the definition of "approved site" to include a wider range of locations serving medically underserved populations and increases the maximum loan redemption amount from $120,000 to $200,000 for participants employed at these sites. The program now also includes psychiatrists and other health care professionals designated by the Commissioner of Health, thereby enhancing the pool of eligible participants.

Additionally, the bill introduces new requirements for participants, such as a minimum two-year service period at an approved site and adherence to performance standards. It mandates the Commissioner of Health, in consultation with the Commissioner of Human Services, to designate and rank State-designated underserved areas, which will now automatically include municipalities with a significant percentage of households below the federal poverty level. The bill also requires the Higher Education Student Assistance Authority (HESAA) to submit annual performance reports on the program, while maintaining the current allocation of 25 percent of funds for the Nursing Faculty Loan Redemption Program, with provisions for reallocating excess funds to the Health Care Professional Loan Redemption Program as necessary. Overall, these changes aim to improve access to health care services in underserved areas and address workforce shortages in the health care sector.

Statutes affected:
Introduced: 18A:71C-36.1, 18A:71C-46.1, 18A:71C-58, 18A:71C-65, 18A:71C-48