Bill > S02067

This bill establishes a personal income tax credit for preceptor clinicians, such as physicians, physician assistants, nurse practitioners, and midwives, who provide preceptor instruction as part of a clinical preceptorship for students studying to become healthcare professionals in New York. The credit is $1,000 for every 100 hours of preceptor instruction, with a maximum credit of $3,000 per year. The bill also authorizes the Commissioner of Education and the Commissioner of Taxation and Finance to promulgate rules and regulations to implement the credit program, and allows the Commissioner of Taxation and Finance to inspect the certifications and reports filed by the Commissioner of Education for the purposes of administering the credit. The bill is effective immediately and applies to taxable years beginning on January 1, 2024, expiring on December 31, 2028.