Fla. Admin. Code Ann. R. 64W-4.006 - Funding Methodology and Awards
(1) From
the funds available, the Department shall make payments as follows:
(a) 25% of an eligible applicant's principal
loan amount at the time of application for the program.
1. For recertifications, the 25% calculation
will be based on the principal loan amount for the application calendar year in
which the applicant originally applied and received an award.
2. For new applications, or applicants that
did not receive an award in the most recent application calendar year, the 25%
calculation will be based on the principal loan amount submitted for the
current application calendar year.
(b) In no event will the award amount exceed,
over the course of a 4-year period:
1.
$150,000 for physicians;
2. $90,000
for advanced practice registered nurses registered to engage in autonomous
practice;
3. $75,000 for advanced
practice registered nurses and physician assistants;
4. $75,000 for mental health
professionals;
5. $45,000 for
licensed practical nurses and registered nurses; or
6. The principal balance owed by the
applicant.
(2) If available funds are not exhausted in
Tier 1, awards will be issued to applicants in Tiers 2 through 4 in sequential
tier order.
(3) If award funding is
returned to the Department for any reason, the Department will contact the
awardee to determine if the awardee currently holds a qualified loan that the
funds can be redistributed towards. If the awardee no longer holds a qualified
loan, then the returned funds will be reallocated to the subsequent award cycle
budget.
(4) This rule will be
reviewed and repealed, modified, or renewed through the rulemaking process five
years from the effective date.
Notes
Rulemaking Authority 381.402 FS. Law Implemented 381.402 FS.
New 4-20-23.
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.
(1) From the funds available, the Department shall make payments as follows:
(a) Up to $4, 000 per year for licensed practical nurses and registered nurses;
(b) Up to $10, 000 per year for advanced practice registered nurses and physician assistants;
(c) Up to $15, 000 per year to autonomous APRNs; and
(d) Up to $20, 000 per year for physicians.
(2) Payments will be made based on the prioritization method specified in Rule 64W-4.005 F.A.C and then by the following allocation method.
(a) All approved applications will be counted, and the total number divided by four to get the number of applicants for each prioritization quartile.
(b) All approved applications will be ranked highest to lowest by prioritization score and assigned to a quartile based on the result of paragraph (2)(a) above.
(c) Applications will be funded by Quartiles:
1. Quartile 1 will be funded at 100% of the amount in subsection (1) above, unless the situation in paragraph (d) below occurs.
2. Quartile 2 will be funded at 85% of the amount in subsection (1) above, unless the situation in paragraph (d) below occurs.
3. Quartile 3 will be funded at 70% of the amount in subsection (1) above, unless the situation in paragraph (d) below occurs.
4. Quartile 4 will be funded at 55% of the amount in subsection (1) above, unless the situation in paragraph (d) below occurs.
(d) If the applicant requests less than the amount in their assigned quartile, they will get the full amount requested.
(3) If available funds are not exhausted in Tier 1, awards will be issued to applicants in Tier 2 following the same methodology as in subsection (2) above.
(4) This rule will be reviewed and repealed, modified, or renewed through the rulemaking process five years from the effective date.
Notes
Rulemaking Authority 1009.65 FS. Law Implemented 1009.65 FS.
New 4-20-23.