SAFETY-NET HOSP-LOAN PROGRAM

Amends the State Finance Act. Creates the Safety-Net Hospital Service Loan Forgiveness Program Fund. Amends the Illinois Public Aid Code. Requires the Department of Healthcare and Family Services to establish the Safety-Net Hospital Service Loan Forgiveness Program to make loan repayment disbursements to physicians and medical residents, as defined, who agree to practice in a Safety-Net Hospital. Requires physicians and medical residents who are selected to participate in the Program to agree, by contract, to serve a minimum 3-year full-time service obligation. Requires the Department to make annual disbursements directly to the selected physician or medical resident equivalent to 35% of the average educational debt for indebted graduates in his or her profession not to exceed the balance of the physician or medical resident's qualifying educational loans. Provides that before receiving loan repayment disbursements and as requested, the physician or medical resident must complete a confirmation of practice form verifying that he or she is practicing as required under the Program. Provides that if a physician or medical resident fails to fulfill the required minimum commitment of service, the Department shall collect the total amount paid to the physician or medical resident under the Program plus interest and shall deposit such moneys into the Safety-Net Hospital Service Loan Forgiveness Program Fund. Requires the Department to adopt any rules necessary to implement the Program.