Bill > H6277

This bill clarifies and expands the eligibility for the Wavemaker Fellowship program, which provides tax credits to help repay education loans for certain professionals in Rhode Island. Specifically, the bill broadens the definition of "full-time employee" to include healthcare practitioners who work at least 35 hours per week in Rhode Island as sole proprietors, partners in healthcare service partnerships, or members of single-member limited liability companies (LLCs). The change applies retroactively to applications submitted on or after July 1, 2022. The Wavemaker program is designed to retain talented professionals in the state by offering financial incentives to those working in key fields such as sciences, technology, engineering, mathematics, teaching, and healthcare. The bill modifies the existing law to ensure that healthcare professionals who are self-employed or work in small professional groups can also qualify for the fellowship, expanding the program's reach and supporting diverse employment arrangements in the healthcare sector.

Budget and Finance

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