1. Short title This Act may be cited as the Nurse Faculty Shortage Reduction Act of 2024 . 2. Nurse faculty grant program Section 846A of the Public Health Service Act ( 42 U.S.C. 296n–1 ) is amended— (1) in the section heading, by adding and nursing faculty grant program after loan program ; (2) by amending subsection (a) to read as follows: (a) In general To increase the number of qualified nursing faculty, the Secretary, acting through the Administrator of the Health Resources and Services Administration, may— (1) enter into an agreement with any accredited school of nursing for the establishment and operation of a student loan fund in accordance with subsection (b); and (2) award nurse faculty grants in accordance with subsection (c). ; (3) in subsection (b)— (A) by redesignating clauses (A) through (D) of paragraph (2) as clauses (i) through (iv), respectively, and adjusting the margins accordingly; (B) by redesignating paragraphs (1) through (5) as subparagraphs (A) through (E), respectively, and adjusting the margins accordingly; (C) in subparagraph (C), by striking subsection (c) and inserting paragraph (2) ; and (D) by striking (b) Agreements— Each agreement entered into under subsection (a) shall— and inserting the following: (b) School of nursing student loan fund (1) In general Each agreement entered into under subsection (a)(1) shall— ; (4) in subsection (c)— (A) by striking subsection (a) each place it appears and inserting subsection (a)(1) ; (B) in paragraph (3), by redesignating subparagraphs (A) and (B) as clauses (i) and (ii), respectively, and adjusting the margins accordingly; (C) in paragraph (6), by redesignating subparagraphs (A) and (B) as clauses (i) and (ii), respectively, and adjusting the margins accordingly; (D) by redesignating paragraphs (1) through (6) as subparagraphs (A) through (F), respectively, and adjusting the margins accordingly; and (E) in subparagraph (F)(ii), as so redesignated, by striking subsection (e) and inserting paragraph (4)