164.936 Healthcare Worker Loan Relief Program -- Purpose -- Duties -- Trust
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/ky/164-936A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
fund.
(1)The General Assembly hereby establishes the statewide Healthcare Worker
Loan Relief Program designed to be in alignment with the federally funded
state loan repayment program authorized under KRS 211.165 in providing
student loan repayment for eligible healthcare workers within the
Commonwealth. The Healthcare Worker Loan Relief Program shall be
administered by the University of Kentucky through the Center of Excellence in
Rural Health, and all costs associated with the program, including the
reimbursement of any expenses incurred by the center in its administration of
the program, shall be funded by state appropriations and other funds held in
the healthcare worker loan relief fund, which shall be excluded from the
comprehensive funding model established in KRS 164.092.
(2)The board of trustees of the University of Kentucky, on behalf of the Center of
Excellence in Rural Health, shall adopt policies for the administration of the
program that are in alignment with the policies implemented in the
administration of KRS 211.165 and the federally funded state loan repayment
program it authorizes, and shall include:
(a)The professional, certification, education, employment, and worksite
eligibility requirements, except that the professional requirements shall
also grant eligibility to ophthalmologists, optometrists, and audiologists;
(b)Student loan eligibility requirements;
(c)A process to consider applications from eligible healthcare workers,
except the policy shall include an application cycle that is open at least
biannually;
(d)Program admission guidelines;
(e)The conditions under which admitted healthcare workers shall receive
awards;
(f)To the extent that funding is available, the process for determining award
amounts, which shall include the tiering of award amounts based on
provider type, student loan amounts, and other factors, except that the
policy shall not require a dollar-for-dollar match component from admitted
healthcare workers' employers; and
(g)Procedures to provide repayment to loan servicers.
(a)The healthcare worker loan relief fund is hereby created as a trust fund in
the State Treasury to be administered by the University of Kentucky on
behalf of the Center of Excellence in Rural Health for the purpose of
providing loan repayment as described in this section.
(b)The trust fund shall consist of state general fund appropriations, gifts and
grants from public and private sources, and federal funds. All moneys
included in the fund shall be appropriated for the purposes set forth in this
section.
(c)Any unallotted or unencumbered balances in the trust fund shall be
invested as provided in KRS 42.500(9). Income earned from the
investments shall be credited to the trust fund.
(d)Notwithstanding KRS 45.229, any fund balance at the close of the fiscal
year shall not lapse but shall be carried forward to the next fiscal year and
continuously appropriated only for the purposes specified in this section.