§ 16-46-5-8 — Establishment and use of fund

(a) The Indiana health care professional
recruitment and retention fund is established. The purpose of the fund
is to provide loan repayment for student loans incurred by health care
professionals to encourage the delivery of health care in shortage areas.
The state department shall administer the fund.
(b) The fund consists of the following:
(1) Appropriations by the general assembly.
(2) Repayments by loan recipients from the Indiana medical and
nursing distribution loan fund under IC 25-22.5-9 (repealed July
1, 1987).
(3) Gifts to the fund.
(4) Grants from public or private sources.
(c) The treasurer of state shall invest the money in the fund not
currently needed to meet the obligations of the fund.
(d) Money in the fund at the end of a state fiscal year does not revert
to the state general fund.
(e) The fund shall be used to do the following:
(1) Provide loan repayment under this chapter.
(2) Pay the costs incurred by the state department in administering
this chapter.
The administrative costs paid from the fund under subdivision (2) may
not exceed thirty thousand dollars ($30,000) per year.
[Pre-1993 Recodification Citation: 16-3-6-6.]

Legislative History

As added by P.L.2-1993, SEC.29. Amended by P.L.72-2001, SEC.5; P.L.122-2012, SEC.8.