NY A04715

Establishes a registered nurse loan repayment program beginning January 1, 2026, for registered professional nurses and licensed practical nurses in shortage specialties who commit to practicing for at least five years in underserved areas or nursing homes

Provides loan repayment awards up to $150,000 over five years, distributed as: 15% of debt (up to $20,000) in year one, 15% (up to $25,000) in year two, 20% (up to $35,000) in year three, and 25% (up to $35,000) in years four and five

Allows general hospitals and health care providers to receive and administer loan repayment awards as part of their nurse recruitment packages

Requires nurses who practice less than two years to repay all funds received, with interest rates set by the commissioner at no less than the rate for personal income tax underpayments

Authorizes the commissioner to use program funds as matching funds for federal grants under the Public Health Service Act