Illinois General Assembly - Bill Status for HB4940

Creates the Loan Repayment Assistance for Optometrists Act. Provides that the Department of Public Health shall establish an educational loan repayment assistance program for optometrists who practice in this State to increase the total number of optometrists in this State. Provides that, beginning July 1, 2025, the Department shall, each year, consider applications for assistance under the program; sets forth other provisions concerning applications for assistance. Provides that an applicant is eligible for assistance if, among other qualifications, the applicant is practicing full time in this State as an optometrist, is currently repaying educational loans, and agrees to continue full time practice in this State for at least 3 years. Provides that for each year that a qualified applicant practices full time in this State as an optometrist, the Department shall award a grant to that person in an amount equal to the amount in educational loans that the person must repay that year; specifies other grant requirements. Sets forth provisions concerning administration, rulemaking, appropriations, and a penalty for the failure to fulfill the work obligation. Effective January 1, 2025.

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