Minnesota lawmakers want to provide a financial incentive to dentists who choose to practice on the Iron Range, a rural region of the state where the number of dentists is declining, according to a story in the Star Tribune.
Although the state is facing a $1 billion budget deficit, the Senate Tax Committee wants to provide $240,000 in forgivable loans to two dentists. Under the terms of the plan, a dentist who wants to move to the Iron Range could get roughly $120,000 in forgivable loans to offset the cost of buying an existing practice or building a new one. A recruit would need to practice in the area for five years to have the loan forgiven.
"The age of our dentists is very concerning to all of us," Senate Tax Committee Chairman Tom Bakk told the Star Tribune. "For some new person coming out of dental school, the cost of buying a business is staggering. If someone wants to replace the dentists retiring, they have to be compensated."
The committee is suggesting the money could come from a tax on the taconite extracted from area mines.
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