Bill > SB269

This bill establishes a tax credit program to incentivize businesses to donate money to the Graduate Medical Education Grant Program (GMEGP), which supports physician residency and postdoctoral fellowship training. Specifically, employers subject to the modified business tax can receive a dollar-for-dollar tax credit for donations made to the GMEGP, with some key provisions: businesses must first apply to the Office of Science, Innovation and Technology for credit approval before making a donation, and they have 30 days after approval to make the donation. The total amount of credits authorized is capped at $4 million for Fiscal Year 2025-2026, with a 3% increase each subsequent year. If a business's tax liability is less than the credit amount, they can carry forward the unused credit for up to 5 years. The program applies to both financial institutions and other businesses paying the modified business tax, and aims to support medical education by providing a financial incentive for private sector donations to physician training programs. The bill will take effect on July 1, 2025, giving businesses a new opportunity to support graduate medical education while receiving a tax benefit.

Budget and Finance, Business and Industry

https://www.leg.state.nv.us/App/NELIS/REL/83rd2025/Bill/12454/Overview