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Veterinary Medicine Loan Repayment Program Enhancement Act

1/11/2023, 1:48 PM

Summary of Bill HR 2447

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.

Congressional Summary of HR 2447

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.

Current Status of Bill HR 2447

Bill HR 2447 is currently in the status of Bill Introduced since April 12, 2021. Bill HR 2447 was introduced during Congress 117 and was introduced to the House on April 12, 2021.  Bill HR 2447's most recent activity was Referred to the House Committee on Ways and Means. as of April 12, 2021

Bipartisan Support of Bill HR 2447

Total Number of Sponsors
1
Democrat Sponsors
1
Republican Sponsors
0
Unaffiliated Sponsors
0
Total Number of Cosponsors
132
Democrat Cosponsors
76
Republican Cosponsors
56
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill HR 2447

Primary Policy Focus

Taxation

Potential Impact Areas

- Health care coverage and access
- Income tax exclusion
- Medical education
- Student aid and college costs
- Veterinary medicine and animal diseases

Alternate Title(s) of Bill HR 2447

Veterinary Medicine Loan Repayment Program Enhancement Act
To amend the Internal Revenue Code of 1986 to provide for an exclusion for assistance provided to participants in certain veterinary student loan repayment or forgiveness programs.
Veterinary Medicine Loan Repayment Program Enhancement Act

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