(a)The Dentally Underserved Account is hereby created in the State Dentistry Fund.
(b)The sum of three million dollars ($3,000,000) is hereby authorized to be expended from the State Dentistry Fund on this program. These moneys are appropriated as follows:
(1)One million dollars ($1,000,000) shall be transferred from the fund to the account on July 1, 2003. Of this amount, sixty-five thousand dollars ($65,000) shall be used by the board in the 2003–04 fiscal year for operating expenses necessary to manage this program.
(2)One million dollars
($1,000,000) shall be transferred from the fund to the account on July 1, 2004. Of this amount, sixty-five thousand dollars ($65,000) shall be used by the board in the 2004–05 fiscal year for operating expenses necessary to manage this progra
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(a)
The Dentally Underserved Account is hereby created in the State Dentistry Fund.
(b)
The sum of three million dollars ($3,000,000) is hereby authorized to be expended from the State Dentistry Fund on this program. These moneys are appropriated as follows:
(1)
One million dollars ($1,000,000) shall be transferred from the fund to the account on July 1, 2003. Of this amount, sixty-five thousand dollars ($65,000) shall be used by the board in the 2003–04 fiscal year for operating expenses necessary to manage this program.
(2)
One million dollars
($1,000,000) shall be transferred from the fund to the account on July 1, 2004. Of this amount, sixty-five thousand dollars ($65,000) shall be used by the board in the 2004–05 fiscal year for operating expenses necessary to manage this program.
(3)
One million dollars ($1,000,000) shall be transferred from the fund to the account on July 1, 2005. Of this amount, sixty-five thousand dollars ($65,000) shall be used by the board in the 2005–06 fiscal year for operating expenses necessary to manage this program.
(c)
Funds placed into the account shall be used by the board to repay the loans per agreements made with dentists.
(1)
Funds paid out for loan repayment may have a funding match from
foundation or other private sources.
(2)
Loan repayments shall not exceed one hundred five thousand dollars ($105,000) per individual licensed dentist.
(3)
Loan repayments shall not exceed the amount of the educational loans incurred by the dentist applicant.
(d)
Notwithstanding Section 11005 of the Government Code, the board may seek and receive matching funds from foundations and private sources to be placed into the account. The board also may contract with an exempt foundation for the receipt of matching funds to be transferred to the account for use by this program.
(e)
Funds in the account appropriated in subdivision (b) or received pursuant to
subdivision (d) are continuously appropriated for the repayment of loans per agreements made between the board and the dentists.
(f)
On or after July 1, 2010, the board shall extend the program and distribute the moneys remaining in the account until all the moneys in the account are expended.