MT HB860

Establishes the "Rural Montana Veterinary Workforce Act" creating a loan program for veterinary students who commit to practicing in underserved rural areas of Montana, with preference given to Montana residents

Provides loans up to $100,000 total per participant ($25,000/year for 4-year programs or $33,333/year for 3-year programs), with no more than 4 new students selected annually

Requires participants to practice full-time in an underserved area for 4 years after graduation, with one-quarter of the loan forgiven for each 12 consecutive months of practice; forgiven amounts are exempt from state income tax

Participants who fail to meet program requirements must repay the unforgiven loan balance plus interest (up to 8% annually) within 10 years, with exceptions for permanent disability or death

Appropriates $425,000 from the general fund for the 2025-2027 biennium; the program is administered by the Commissioner of Higher Education with input from a 7-member advisory committee and terminates June 30, 2035