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.

Furthermore, the bill outlines the responsibilities of public service employers in certifying employment and disseminating information about the loan forgiveness program. It requires the secretary of higher education to develop materials to promote awareness of the program and mandates that public service employers provide these materials to employees annually and to new hires within 30 days of employment. The provisions of this act are set to take effect on July 1, 2025.