The Public Service Loan Forgiveness Multiplier Act aims to enhance the public service loan forgiveness program for adjunct and contingent faculty at post-secondary educational institutions in New Mexico. The bill introduces a new section in Chapter 21 NMSA 1978, establishing definitions related to employment certification, including terms like "certifying employment," "employee," and "public service employer." It mandates that public service employers credit at least 4.35 hours worked for each hour of classroom contact time for adjunct faculty when certifying employment for loan forgiveness. Additionally, it stipulates that public service employers must adopt policies to maximize the time an employee's work can be considered full-time for the purposes of loan forgiveness.

The bill also outlines the responsibilities of public service employers regarding the certification of employment and the dissemination of information about the loan forgiveness program. Employers are required to certify employment for any employee who requests it and to provide detailed information about the program to their employees. The Secretary of Higher Education is tasked with developing materials to promote awareness of the loan forgiveness program, which must be distributed to employees annually and to new hires within 30 days of employment. The provisions of this act will take effect on July 1, 2025.