IL HB4940

Creates the Loan Repayment Assistance for Optometrists Act within the Department of Public Health to increase the number of practicing optometrists in Illinois

Establishes an educational loan repayment assistance program beginning July 1, 2025, with applications considered annually

Eligible applicants must be U.S. citizens or permanent residents, Illinois residents, practicing full-time as licensed optometrists in the state, currently repaying educational loans, and agree to continue full-time practice for at least 3 years

Awards annual grants equal to the amount of educational loan repayment due each year, with a lifetime maximum of $25,000 per recipient

Recipients who fail to maintain full-time practice in Illinois for 3 years must repay all grants received plus interest; allows Department to use up to 5% of program funds for administration and promotion