There is hereby established in the state treasury a rural nursing loan repayment fund to be administered by the department. Moneys in the fund shall:

1. (1) Be subject to appropriation by the legislature to pay for:

   1. (a) The educational debts of nurses in rural and underserved areas of the state that demonstrate a need for assistance in nursing recruitment and retention; and
   2. (b) The expenses of administering the rural nursing loan repayment program, which expenses shall not exceed ten percent (10%) of the annual appropriation by the legislature; and

2. (2) Consist of:

   1. (a) Legislative appropriations;
   2. (b) Health care industry contributions, private donations, and federal funds as available; and
   3. (c) Interest earned on idle moneys in the fund.

[39-2503, added 2023, ch. 60, sec. 1, p. 219.]