Plain English Breakdown
The official bill text excerpt was unreadable (corrupted PDF data), so verification relied solely on the Bill Title and Official Summary.
Revised Tax Credit for Medical and Dental Preceptor Rotations
This law updates the income tax credit for supervising medical students by adding dentistry, increasing the credit value, setting a yearly limit on total credits issued, updating definitions, and extending how long the program lasts.
What This Bill Does
- Adds dentistry to the list of professions eligible for the preceptor rotation tax credit.
- Increases the dollar amount of the tax credit available per student or resident supervised.
- Sets a total yearly limit on the value of credits issued each year.
- Updates definitions related to medical and dental education rotations.
- Extends the expiration date so the tax credit program continues for a longer period.
Who It Names or Affects
- Medical professionals who supervise students or residents in clinical training.
- Dental professionals who supervise students or residents in clinical training.
Limits and Unknowns
- The official summary does not state the specific new dollar amount for the tax credit increase.
- The exact number of years added to the program's expiration date is not specified in the provided text.
- The total yearly limit on credits (aggregate cap) is mentioned, but the specific dollar figure is not included.