LAW ENFORCEMENT OFFICER LOAN REPAYMENT ACT

HB 304 creates a program to repay student loans for New Mexico law enforcement officers who work for county or municipal agencies. Eligible officers must have completed at least three years of service and apply through a state fund; repayment amounts are capped at $25,000 or the actual loan balance, tied to years served. The program requires officers to sign contracts agreeing to continue employment, with repayment made directly to lenders (federal, state, or commercial) upon annual employment verification. The law establishes a dedicated fund funded by state appropriations and repayments, with rules to determine eligibility and award amounts.