§ 14199.120.7. — 14199.120.7. (Added November 5, 2024, by initiative Proposition 35, Sec. 1.)

Health Care Workforce Loan Repayment Account
(a)
The Health Care Workforce Loan Repayment Account is hereby created within the Improving Access to Health Care Subfund. Moneys in the Health Care Workforce Loan Repayment Account shall be used as set forth in this section.
(b)
Fifty percent of the moneys in the account shall be deposited in the Advanced Practice Clinicians and Allied Health Care Loan Repayment Subaccount, which is hereby created in the Health Care Workforce Loan Repayment Account. Moneys in this subaccount shall be used for the purpose of establishing an educational loan repayment program for advanced practice clinicians and allied health care professionals. The department shall,
subject to the stakeholder input requirements of Section 14199.121, determine the eligibility and qualifications for loan repayment.
(c)
Fifty percent of the moneys in the account shall be deposited into the CalHealthCares Subaccount, which is hereby created in the Health Care Workforce Loan Repayment Account. Moneys in this subaccount shall be used for the purpose of providing increased funding for educational loan repayment for physicians and dentists through the CalHealthCares Program.
(d)
(1)
On and after January 1, 2030, the maximum allowable balance of unencumbered moneys in this account shall be one hundred twenty-eight million dollars ($128,000,000). As long as this account is at or above one hundred twenty-eight million dollars ($128,000,000), moneys otherwise required to be deposited in this account shall instead be deposited on a pro rata basis
into the accounts described in paragraphs (1) to (8), inclusive, and (11) to (13), inclusive, of subdivision (d) which are not at or above their maximum allowable balance.
(2)
This subdivision does not apply if this account is at or above one hundred twenty-eight million dollars ($128,000,000) as a result of the department violating its nondiscretionary ministerial duty set forth in subdivision (b) of Section 14199.106, or if the accounts described in paragraphs (1) to (8), inclusive, and (11) to (13), inclusive, of subdivision (d) are all simultaneously at or above their maximum allowable balance.

Legislative History

Added November 5, 2024, by initiative Proposition 35, Sec. 1. Effective December 18, 2024. Approved in Proposition 35 at the November 5, 2024, election. Operative January 1, 2025, pursuant to Section 14199.135.