MEDICAL PROVIDER LOAN-FOR-SERVICE PGMS

HB 85 creates a program to increase healthcare providers in New Mexico's underserved areas by offering loan repayment and loan-for-service agreements. It establishes a Medical Provider Recruitment Trust Fund (initially funded with $5 million from the general fund) that invests money and distributes 5% of its annual value to a separate Program Fund. This Program Fund, supported by an additional $1 million annual appropriation, provides financial assistance to physicians, physician assistants, and advanced practice nurses who agree to work in designated underserved communities. Priority is given to applicants who graduated from New Mexico state universities or bordering states universities and to those specializing in primary care.