The Public-Private Alliance to Retain Talent and Expand Regional Health Program Act establishes a new grant program within the New Jersey Department of Health aimed at recruiting and retaining health care professionals by providing student loan and tuition relief. The program will offer grants to qualified recruitment and retention servicers, who will assist health care professional students in securing post-graduation employment and managing their educational expenses. To be eligible for grants, servicers must partner with hospitals that provide employment opportunities and commit to matching state funds at a rate of 200 percent, except for University Hospital, which is exempt from this requirement.

The bill appropriates $5 million from the General Fund to support the program and outlines specific application and reporting requirements. Recipients of the grants are limited to providing a maximum of $10,000 per year or $30,000 in total to individual health care professionals for loan repayment or tuition reimbursement. Additionally, health care professionals must agree to work a minimum of three years at the partner hospital to receive the benefits. The Commissioner of Health is tasked with reporting on the program's effectiveness annually, starting December 31, 2026.