Medical Education Loan-for-Service Fund and Program; established, report.

The bill also (i) establishes requirements for the administration of the Program, including (a) requirements for eligibility to apply to and receive a loan under the Program and the prioritization of Program applications and (b) terms and conditions governing the receipt, forgiveness, and repayment of loans under the Program; (ii) directs the Council and the Authority to promulgate regulations for the administration of the Program relating to monitoring and enforcing compliance of recipients with Program requirements and terms and conditions; (iii) authorizes the Council to take certain actions relating to the enforcement of Program requirements and the collection of loans in certain circumstances; and (iv) directs the program administrator to annually collect data on the activities of the Program for the preceding fiscal year and submit to the Governor and the Chairs of the House Committees on Education, Health and Human Services, and Appropriations and the Senate Committees on Education and Health and Finance and Appropriations a report on such data by October 1 of each year. Finally, the bill directs the Council to promulgate such regulations as are necessary for (a) the program administrator to begin collecting applications for the Program by January 1, 2027, and (b) the disbursement of loans under the Program no later than July 1, 2027.