Vote Smart's Synopsis:

Vote to pass an amended bill that establishes the Maine Health Care Provider Loan Repayment Program.

Highlights:

• Establishes the Maine Health Care Provider Loan Repayment Program within the authority (Sec. 2).

• Establishes the Maine Health Care Provider Loan Repayment Program Fund in the authority as a nonlapsing, interest-earning, revolving fund to carry out the demands of this act (Sec. 2).

• Requires applicants who wish to apply for an award under this chapter to submit the following (Sec. 2):

• Documentation validating:

• The applicant’s original student loan balance upon graduating;

• The current balance owed on the student loan, including principal and interest;

• Current payment amounts on the student loan, including information on any federal student loan repayment plan; and

• Information concerning the applicant’s expected eligibility for the federal loan forgiveness program.

• An employer certification form showing the applicant's employment status and salary or hourly wage; and

• A signed statement of intent in a form acceptable to the authority to work in the applicant’s identified health care profession in Maine for at least five years after acceptance into the program.

• Establishes eligibility for an award to be based on the following requirements for an applicant (Sec. 2):

• Being a current resident of Maine or becoming a resident of Maine within six months of being accepted in the program;

• Currently practicing as a health care provider on a full-time basis in Maine, or having the plans to begin practicing as a health care provider on a full-time basis in Maine within six months of being accepted in the program;

• Having an outstanding education loan;

• Not being a current beneficiary of a state or federal loan repayment program; and

• Not being a current recipient of a state-funded education loan.

• Establishes the Maine Health Care Provider Loan Repayment Program Advisory Committee (Sec. 2).

• Requires the authority to publicize by January 1st of each year the priority occupations for the upcoming application cycle (Sec. 2).

• Requires the authority to accept applications on an annual basis and to open the application cycle by February 1st of each year (Sec. 2).

• Specifies that the authority will pay up to $30,000 per year and the lesser of $150,000 in total and 50 percent of the recipient’s loan balance (Sec. 2). 

• Requires the authority to ensure that nurse educators are being considered among the priority occupations each year (Sec 2).

• Requires recipients of the award to submit an employer certification form proving their employment status and salary or hourly wage each of the five years they receive the award (Sec. 2).

• Appropriates $1 million to the Maine Health Care Provider Loan Repayment Program Fund (Sec. 5).

• Defines “authority” as the Finance Authority of Maine (Sec. 2).

• Defines “full-time” work as (Sec. 2):

• At least 30 hours per week;

• At least 130 hours per month; or

• Determined to be full-time by the authority. 

• Defines “underserved area” as an area in the State that is a health professional shortage area or medically underserved area or that contains a medically underserved population (Sec. 2).

Full Bill Text

Vote Smart's Synopsis:

Vote to pass an amended bill that establishes the Maine Health Care Provider Loan Repayment Program.

Highlights:

• Establishes the Maine Health Care Provider Loan Repayment Program within the authority (Sec. 2).

• Establishes the Maine Health Care Provider Loan Repayment Program Fund in the authority as a nonlapsing, interest-earning, revolving fund to carry out the demands of this act (Sec. 2).

• Requires applicants who wish to apply for an award under this chapter to submit the following (Sec. 2):

• Documentation validating:

• The applicant’s original student loan balance upon graduating;

• The current balance owed on the student loan, including principal and interest;

• Current payment amounts on the student loan, including information on any federal student loan repayment plan; and

• Information concerning the applicant’s expected eligibility for the federal loan forgiveness program.

• An employer certification form showing the applicant's employment status and salary or hourly wage; and

• A signed statement of intent in a form acceptable to the authority to work in the applicant’s identified health care profession in Maine for at least five years after acceptance into the program.

• Establishes eligibility for an award to be based on the following requirements for an applicant (Sec. 2):

• Being a current resident of Maine or becoming a resident of Maine within six months of being accepted in the program;

• Currently practicing as a health care provider on a full-time basis in Maine, or having the plans to begin practicing as a health care provider on a full-time basis in Maine within six months of being accepted in the program;

• Having an outstanding education loan;

• Not being a current beneficiary of a state or federal loan repayment program; and

• Not being a current recipient of a state-funded education loan.

• Establishes the Maine Health Care Provider Loan Repayment Program Advisory Committee (Sec. 2).

• Requires the authority to publicize by January 1st of each year the priority occupations for the upcoming application cycle (Sec. 2).

• Requires the authority to accept applications on an annual basis and to open the application cycle by February 1st of each year (Sec. 2).

• Specifies that the authority will pay up to $30,000 per year and the lesser of $150,000 in total and 50 percent of the recipient’s loan balance (Sec. 2). 

• Requires the authority to ensure that nurse educators are being considered among the priority occupations each year (Sec 2).

• Requires recipients of the award to submit an employer certification form proving their employment status and salary or hourly wage each of the five years they receive the award (Sec. 2).

• Appropriates $1 million to the Maine Health Care Provider Loan Repayment Program Fund (Sec. 5).

• Defines “authority” as the Finance Authority of Maine (Sec. 2).

• Defines “full-time” work as (Sec. 2):

• At least 30 hours per week;

• At least 130 hours per month; or

• Determined to be full-time by the authority. 

• Defines “underserved area” as an area in the State that is a health professional shortage area or medically underserved area or that contains a medically underserved population (Sec. 2).

Full Bill Text