Health professional loan repayment fund created;

purpose; method of payment. A. The "health professional loan repayment fund" is created as a nonreverting fund in the state treasury. The fund consists of appropriations, distributions, gifts and grants. The department shall administer the fund, and money in the fund is appropriated to the department to provide awards pursuant to the Health Professional Loan Repayment Act; provided that: (1) no less than fifty percent of the available funds in the health professional loan repayment fund as of the beginning of each fiscal year shall be encumbered for licensed physicians who receive an award; and (2) funds that are encumbered but unexpended shall be used for awards in the next fiscal year. B. Disbursements from the fund shall be made by warrant of the secretary of finance and administration pursuant to vouchers signed by the secretary of higher education or the secretary's authorized representative. History: Laws 1995, ch. 144, § 23; 2026, ch. 45, § 4.