The following limitations apply to the Nursing Faculty Loan Repayment Assistance Program.
  (1) The total annual repayment to one or more eligible lenders shall not exceed $7,000.00.
  (2) A nursing faculty member may receive loan repayment assistance under this subchapter for a maximum of five years.
  (3) Funds will be available for loan repayment assistance under this subchapter only if there are legislative appropriations, gifts, grants, and donations made for this purpose, and/or funds have been reallocated for this purpose from the Physician Education Loan Repayment Program Account at the end of a fiscal year.
  (4) Applications from nursing faculty will be considered by the Board only if funds are available for this purpose at the end of the state fiscal year.

Source Note: The provisions of this §23.193 adopted to be effective November 20, 2013, 38 TexReg 8199; transferred effective December 15, 2016, as published in the Texas Register November 25, 2016, 41 TexReg 9341; amended to be effective November 29, 2017, 42 TexReg 6626