The bill establishes the Air Traffic Controller Loan Redemption Program within the Higher Education Student Assistance Authority (HESAA) to assist eligible air traffic controllers in repaying their student loans. Participants in the program, who must be residents of the state and employed as air traffic controllers at approved sites, can have a portion of their qualifying student loan amounts redeemed based on their years of service. Specifically, the redemption amounts are structured to provide 16% for the first year, 26% for the second, 28% for the third, and 30% for the fourth year, with a total redemption cap of $100,000. The program aims to address the shortage of trained air traffic controllers by incentivizing service in this critical field.

Additionally, the bill creates a grant program in the Office of the Secretary of Higher Education to support public institutions of higher education in participating in the federal Air Traffic-Collegiate Training Initiative and establishing a Center for the Study of Unidentified Aerial Phenomena. Institutions can apply for grants up to $2.5 million, with a preference for those located in first-class counties. If no four-year institutions apply, county colleges may also be eligible for grants of up to $1 million, provided they are already involved in the federal Unmanned Aircraft Systems Collegiate Training Initiative. The total appropriation for these initiatives is $3.5 million, aimed at enhancing aviation education and training in the state.