AN ACT relating to financial incentives to reduce teacher shortages and making an appropriation therefor.

Create a new section of KRS Chapter 164 to establish the Student Teacher Stipend Program; define eligibility for the program; direct the Kentucky Higher Education Assistance Authority to administer the program; provide an award of up to $8000 to an eligible student teacher; establish the Student Teacher Stipend Program fund and appropriate $10,000,000 in fiscal year 2023-2024 to the fund; create a new section of KRS Chapter 164 to establish the Teacher Recruitment Student Loan Forgiveness Program; define eligibility for the program; direct the Kentucky Higher Education Assistance Authority to administer the program; provide up to $10,000 in student loan repayment for completing two years of consecutive teaching service; establish the Teacher Recruitment Student Loan Forgiveness Program fund and appropriate $5,000,000 in fiscal year 2023-2024 to the fund; APPROPRIATION.