The "Specialty Physicians Advancing Rural Care Act" (SPARC Act) amends the Public Health Service Act to establish a new loan repayment program. This initiative is designed to encourage specialty medicine physicians to serve in rural communities that are experiencing a shortage of such medical professionals. The program also provides for the optional inclusion of non-physician specialty health care providers . Under this program, the Secretary of Health and Human Services, acting through the Health Resources and Services Administration, will enter into agreements with eligible participants. In exchange for loan repayment, participants must commit to a six-year period of obligated full-time service in a designated rural community experiencing a shortage. For each year of service, one-sixth of the principal and interest on eligible loans will be repaid, with the remainder paid after the sixth year, up to a maximum of $250,000 per individual. Eligible loans encompass those for education in specialty medicine or healthcare, alongside various federal student loans such as Federal Direct Stafford Loans and Federal Perkins Loans. The bill explicitly states that participants cannot receive benefits from this program concurrently with other specified federal loan forgiveness programs for the same service. While a liquidated damages formula may be established for breaches, failure to complete the full service period is not considered a breach if good faith service was rendered for payments received. The bill stipulates that no more than 15 percent of the program's funds may be allocated to non-physician specialty health care providers, who are also ineligible for other federal healthcare-specific loan forgiveness programs. Furthermore, the Secretary is mandated to report to Congress every two years, beginning five years after enactment, on the program's impact on specialty care availability in rural communities and the practice locations of participants.