§ 20. Vermont Food Animal Veterinarian Educational Loan Repayment Fund

(a) There is created a special fund to be known as the Vermont Food Animal Veterinarian Educational Loan Repayment Fund that shall be used for the purpose of ensuring a stable and adequate supply of food animal veterinarians in regions of the State as determined by the Secretary. The Fund shall be established and held separate and apart from any other funds or monies of the State and shall be used and administered exclusively for the purpose of this section. The money in the Fund shall be invested in the same manner as permitted for investment of funds belonging to the State or held in the Treasury.

(b) The Fund shall consist of:

(1) sums appropriated or transferred to it from time to time by the General Assembly, the State Emergency Board, or the Joint Fiscal Committee when the General Assembly is not in session;

(2) interest earned from the investment of Fund balances; and

(3) sums from any other public or private source accepted for the benefit of the Fund.

(c) The Agency shall administer the Fund, and the Secretary of Agriculture, Food and Markets shall have the discretion to provide annual student loan repayment awards to licensed, qualified veterinarians who are significantly dedicated to treating food animals in the State. The Secretary may determine the level of service that qualifies as “significantly dedicated” to treating food animals, may establish additional eligibility requirements, and may create program requirements for all fund recipients. The Agency may contract with a Vermont nonprofit entity for administration of the program, which shall administer awards in compliance with the requirements of Section 108(f) of the Internal Revenue Code.

(d) As used in this section, “food animal” means any animal that produces food for human consumption or is raised for human consumption, including cattle, sheep, swine, goats, poultry, bees, and any other species as determined by the Secretary of Agriculture, Food and Markets. (Added 2009, No. 44, § 21, eff. May 21, 2009; amended 2011, No. 52, § 39, eff. May 27, 2011; 2021, No. 47, § 4.)