NY A11655

Authorizes the Department of Health Commissioner to establish a nurse practitioner loan repayment program beginning January 1, 2011, funded through existing appropriations for similar health professional loan repayment programs.

Provides eligible nurse practitioners (those in specialties deemed in short supply) up to $150,000 in loan repayment assistance over five years if they commit to practice at least five years in an underserved area, with annual caps ranging from $20,000 to $35,000.

Allows general hospitals and other health care providers to offer these loan repayment awards as part of recruitment packages, with awards limited to documented student loan debt from accredited educational institutions or federal/state loans.

Requires recipients who practice less than two years in an underserved area to repay all funds received with interest at rates determined by the commissioner but not less than the rate for personal income tax underpayments.

Permits the commissioner to use available funds as matching funds for federal grants under the Public Health Service Act and authorizes postponement, modification, or waiver of the five-year service obligation in the commissioner's discretion.