The Cabinet for Health and Family Services shall establish a loan repayment program to repay educational loans for primary health-care professionals who agree to serve in federally designated health professional shortage areas. The program shall:
(1) Apply for federal funds for the program under the Public Health Service Act (42 U.S.C. sec. 254g-1);
(2) Make payments of qualifying educational loans of health professionals agreeing to provide primary health services in federally designated health professional shortage areas;
(3) Assign health professionals only to public and private nonprofit entities;
(4) Enter into contracts with participants with remedies for breach of contract by the health professional; and (5) Make available nonfederal contributions towards contracts with individual health professionals in an amount not less than one dollar ($1) for each one dollar ($1) of federal funds provided. In meeting this matching fund requirement, the state shall provide fifty percent (50%) of the state's share from state funds, and the remaining fifty percent (50%) shall be provided from local governments or other community- based resources from the area in which the health professional will be serving.