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314.460 Matching fund program.
The board shall establish and administer a matching fund program under which a hospital <br>licensed under KRS Chapter 216B may sponsor a professional nursing student or a <br>practical nursing student currently enrolled in an approved nursing program by <br>contributing to the costs of the student's education and having that contribution matched <br>in whole or in part by funds received by the board. The board shall establish requirements <br>for administration of the matching fund program, including but not limited to: <br>(1) Consideration of a hospital's nursing vacancy rate in determining whether to award
funds and the amount of such award;
(2) Eligibility criteria for matching fund recipients, which shall include a requirement
that the recipient work for the sponsoring facility for a prescribed time period <br>commensurate with the funding received by the board and the employer;
(3) The minimum and maximum employer contribution that will be matched; <br>(4) A process that promotes awarding matching funds for students enrolled in the level
of nursing education for which there is the greatest need;
(5) A defined process for matching fund recipients to pay back funds when obligations
related to employment are not met;
(6) A process that defines the reporting requirement of employers who receive
matching funds; and
(7) A process that maximizes a culturally diverse number of nursing students.
Effective: July 15, 2002 <br>History: Created 2002 Ky. Acts ch. 272, sec. 6, effective July 15, 2002.
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