Text: HF00512 Text: HF00514 Text: HF00500 - HF00599 Text: HF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Section 1. PHYSICIAN LOAN REDUCTION PROGRAM. There is
1 2 appropriated from the general fund of the state to the college
1 3 student aid commission for the fiscal year beginning July 1,
1 4 2001, and ending June 30, 2002, the following amount, or so
1 5 much thereof as is necessary, to be used for the purpose
1 6 designated:
1 7 For physician loan reduction in accordance with section
1 8 261.18:
1 9 .................................................. $ 250,000
1 10 Sec. 2. NEW SECTION. 261.18 PHYSICIAN LOAN REDUCTION
1 11 PROGRAM.
1 12 1. A physician loan reduction program is established to be
1 13 administered by the college student aid commission. An
1 14 individual is eligible for loan reduction payments under the
1 15 program if the individual meets all of the following
1 16 conditions:
1 17 a. Graduates from the state university of Iowa college of
1 18 medicine and possesses a license to practice medicine under
1 19 chapter 148.
1 20 b. Has an outstanding debt with an eligible lender under
1 21 the Iowa guaranteed loan program, supplemental loans for
1 22 students program, or the PLUS loan program, or has parents
1 23 with an outstanding debt with an eligible lender under the
1 24 PLUS loan program.
1 25 c. Has never defaulted on a loan guaranteed by the
1 26 commission or by the federal government.
1 27 d. Agrees to practice in an eligible community of fewer
1 28 than five thousand population for a minimum period of four
1 29 consecutive years or is practicing in a federally approved
1 30 community health center or health manpower shortage area.
1 31 2. The maximum annual reduction payment for an eligible
1 32 physician during a year, for loans qualifying under subsection
1 33 1, paragraph "b", is five thousand dollars or the remainder of
1 34 the loan, whichever is less. Total payments for an eligible
1 35 physician are limited to a four-year period and shall not
2 1 exceed a total of twenty thousand dollars.
2 2 3. If a physician fails to practice for a year or portion
2 3 of a year during the four-year period as required under this
2 4 section, reduction payments shall not be made during that
2 5 year.
2 6 4. The commission may sign contracts with eligible
2 7 students at or after the time of loan origination to assure
2 8 loan repayment.
2 9 5. For purposes of this section, an "eligible community"
2 10 means a community which agrees to provide an eligible
2 11 physician with a first-year income guarantee, malpractice
2 12 insurance coverage for four years, family health insurance,
2 13 reimbursement for moving expenses, two weeks of vacation for
2 14 each of the first four years, and one week of continuing
2 15 medical education per year for four years.
2 16 EXPLANATION
2 17 This bill establishes a physician loan reduction program
2 18 within the college student aid commission for persons who have
2 19 graduated from the university of Iowa college of medicine and
2 20 agree to practice for at least four years in an eligible
2 21 community of less than 5,000 people, or to practice in a
2 22 federally approved community health center or health manpower
2 23 shortage area. The bill appropriates $250,000 for FY 2001-
2 24 2002, from the general fund of the state, for the physician
2 25 loan reduction program.
2 26 The maximum annual reduction payment is $5,000 or the
2 27 remainder of the loan, whichever is less. Total payments
2 28 shall not exceed $20,000 over a four-year period. If a
2 29 physician fails to practice for a year or portion of a year
2 30 during the four-year period as required, reduction payments
2 31 shall not be made during that year.
2 32 An "eligible community", under the bill, means a community
2 33 that agrees to provide a physician with a first-year income
2 34 guarantee, malpractice insurance coverage for four years,
2 35 family health insurance, reimbursement for moving expenses,
3 1 two weeks of vacation for each of the first four years, and
3 2 one week of continuing medical education per year for four
3 3 years.
3 4 LSB 2480YH 79
3 5 kh/cf/24
Text: HF00512 Text: HF00514 Text: HF00500 - HF00599 Text: HF Index Bills and Amendments: General Index Bill History: General Index
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