Establishing a public interest law grant program and a business and occupation tax credit for approved contributions to the program account.

HB 2162 creates a program to help new lawyers working as prosecutors or public defenders pay student loans by offering annual grants of up to $10,000 per year. It funds these grants through a tax credit for law firms that contribute to a dedicated account, allowing firms to claim a business and occupation tax credit equal to their contribution (up to $20,000 annually). The law requires the program to begin by 2027, with grants awarded based on available funds, and mandates annual reports on participation and spending. This bill directly affects public defense/prosecution lawyers and participating law firms, aiming to improve recruitment and retention in these roles through financial incentives. The program expires December 31, 2038.