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Tax exclusion for veterinary student loan forgiveness in rural areas.

This law aims to increase the availability of veterinary services, especially in rural areas. It introduces an income tax exclusion for veterinarians who receive financial assistance for student loan repayment in exchange for working in underserved regions. This makes student debt forgiveness programs more appealing, encouraging professionals to settle where they are most needed.
Key points
Money received for student loan repayment by veterinarians participating in specific federal and state programs will not be counted as taxable income.
This change is designed to encourage more veterinarians to provide services in rural areas, improving livestock health and food safety.
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Additional Information
Print number: 118_S_2829
Sponsor: Sen. Stabenow, Debbie [D-MI]
Process start date: 2023-09-18