Bill > A02989

This bill establishes a $500 credit against income tax for nurses employed on a full-time basis for at least 6 months and nurses teaching at institutions of higher education, starting January 1, 2024. The bill defines "full-time basis" as employment of at least 30 hours per week, and "institution of higher education" as any accredited post-secondary institution that grants degrees, certificates, or diplomas. If the credit amount exceeds the taxpayer's tax for the year, the excess will be treated as an overpayment to be credited or refunded, but no interest will be paid.