Income Tax Credit for Preceptors

MRHA worked diligently in 2016 to provide support that helped pass The Preceptor Tax Credit Program from Senate Bill 411/House Bill 1474 during the 2016 Legislative Session.

This Program authorizes a credit against the State income tax for individuals who have served as a preceptor in certain preceptorship programs and work in certain areas of the State with a health care workforce shortage. Preceptorship program means an organized system of clinical experience, that, for the purpose of attaining specified learning objectives, pairs a Nurse Practitioner student enrolled in a nursing education program that is recognized by the State Board of Nursing with a Nurse Practitioner or licensed Physician who meets the qualifications as a preceptor.

Eligibility

  • Physician and Nurse Practitioners who provide preceptorship without compensation in an organized system of clinical experience for the purpose of attaining specified learning objectives.
  • Be recognized as a preceptor by a liaison committee on a medical education accredited medical school or program recognized by the Board of Nursing.
  • Act as a preceptor for a minimum of three rotations each consisting of 160 hours (a total of 480 preceptor hours within a taxable year).
  • Practice location in a health care workforce shortage area.

Credit Amount and Limits

  • The credit certificate will be issued by DHMH in the amount of $1000 for each student whom the Physician or Nurse Practitioner acted as a preceptor without compensation.
  • The tax credit amount for individual preceptor for any taxable year may not exceed $10,000.
  • The total amount of income tax credit certificates in total may not exceed $100,000 for any taxable year.

 Applications open January 5, 2017 and close January 25, 2017.

Where can I learn more?

Temi Oshiyoye, Director, State Office of Rural Health and Workforce Program
Office of Population Health Improvement, DHMH

For the full details, click HERE