NM HB66

Amends the Health Professional Loan Repayment Act to require award recipients to either currently practice in New Mexico or agree to relocate and commence practice within 90 days of receiving an award

Licensed physicians receive highest priority and minimum awards of $75,000 per year for four consecutive years, with a required four-year service commitment; other health professionals have a three-year service commitment

At least 50% of available funds in the Health Professional Loan Repayment Fund must be encumbered for licensed physician awards at the beginning of each fiscal year

Non-compliance with contract terms may result in repayment of the full award amount plus up to 18% interest, unless the department finds acceptable extenuating circumstances

Expands eligible health professionals to include those licensed under 27 different practice acts, including physicians, nurses, pharmacists, dentists, psychologists, social workers, and emergency medical services providers