Veterinary Medicine Loan Repayment Program Enhancement Act

Veterinary Medicine Loan Repayment Program Enhancement Act

This bill modifies the requirements for calculating taxable income to exclude from gross income payments under the federal veterinary medicine loan repayment program or any state loan repayment or forgiveness program that is intended to provide for increased access to veterinary services in such state.

Bill 117 HR 2447, also known as the Veterinary Medicine Loan Repayment Program Enhancement Act, aims to enhance the existing Veterinary Medicine Loan Repayment Program (VMLRP) in order to address the shortage of veterinarians in underserved areas of the United States. The VMLRP was established to provide loan repayment assistance to veterinarians who commit to working in designated shortage areas for a certain period of time.

The enhancements proposed in this bill include increasing the maximum loan repayment amount from $25,000 to $30,000 per year, extending the maximum number of years a veterinarian can participate in the program from three to five years, and expanding the list of eligible practice areas to include public health and food safety.

The bill also seeks to streamline the application process for the VMLRP, improve outreach efforts to attract more veterinarians to underserved areas, and increase funding for the program to ensure its continued success. Overall, the Veterinary Medicine Loan Repayment Program Enhancement Act aims to incentivize more veterinarians to work in areas where their services are most needed, ultimately improving access to veterinary care for all Americans.