CA SB1471

Modifies distribution of fines from the Managed Care Administrative Fines and Penalties Fund beginning January 1, 2017 to allocate $1,000,000 annually to the Major Risk Medical Insurance Fund and transfer any remaining funds to the Medically Underserved Account for Physicians.

Allows up to one-half of excess funds in the Medically Underserved Account for Physicians to be prioritized for loan repayment under the Steven M. Thompson Physician Corps Loan Repayment Program for applicants trained in and practicing psychiatry.

Removes psychiatry from the definition of "primary specialty" eligible for the physician loan repayment program, but allows psychiatry practitioners to be funded through the discretionary allocation of excess managed care fines.

Removes references to psychiatric services from the definition of "practice setting" and deletes the obsolete Section 128555.5 regarding restrictions on psychiatric physician loan repayment funding.

Requires the Health Professions Education Foundation to consult with the Medical Board of California and establish an advisory committee to manage the California Physician Corps Program.