A. There is hereby created the “Community Match Rural Scholarship Incentive Program” which shall be conducted and administered by the Health Care Workforce Training Commission. The purpose of this program is to provide for the fair and necessary distribution of funds allocated to it by the Legislature to provide monies to the following programs under the Health Care Workforce Training Commission:

B. The Health Care Workforce Training Commission shall establish and administer a Family/General Practice Resident Rural Scholarship Loan Program for the purpose of assisting Oklahoma's rural communities by providing financial assistance through a scholarship loan forgiveness program to residents enrolled in an accredited Family Practice or General Practice residency program. The Commission shall establish the eligibility standards, the amount of the loan not to exceed One Thousand Dollars ($1,000.00) per month, the service obligation of the recipient of the loan, and any penalties related to the breach of the service contract or failure to repay such loan plus interest and penalty.

C. The Health Care Workforce Training Commission shall establish and administer a Family/General Practice Residency Grant Program for the purpose of assisting Oklahoma's rural communities by providing financial assistance through a grant program to residents enrolled in an accredited Family Practice or General Practice residency program. The Commission shall establish the eligibility standards, the amount of the grant not to exceed Five Thousand Dollars ($5,000.00) per year, up to three (3) years, the program obligations of the recipient of the grant, and any penalties related to the breach of the grant obligations or failure to repay the grant plus interest.