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S4034
SENATE, No. 4034
STATE OF NEW JERSEY
222nd LEGISLATURE
�
INTRODUCED MARCH 19, 2026
Sponsored by:
Senator� JOSEPH F. VITALE
District 19 (Middlesex)
SYNOPSIS
���� Appropriates $10 million to Department of Treasury
for nurse preceptor tax credits.
CURRENT VERSION OF TEXT
���� As introduced.
��
An Act
concerning tax credits, supplementing Title 54A
of the Revised Statutes, and appropriating $10 million.
����
Be It
Enacted
by the Senate and General Assembly of
the State of New Jersey:
���� 1.��� As used in this act:
���� "Advanced practice
nurse" means a person certified in accordance with the provisions of
section 8 or 9 of P.L.1991, c.377 (C.45:11-47 or 45:11-48).
���� "Certified nurse
midwife" means a midwife licensed by the State� Board of Medical Examiners
as a certified nurse midwife pursuant to the provisions of P.L.1991, c.97
(C.45:10-17 et al.).
���� �Director� means the Director
of the Division of Taxation in the Department of the Treasury.
���� "Physician" means a
person licensed to practice medicine in New Jersey pursuant to R.S.45:9-1 et
seq. or licensed to practice in any one of the United States or its
territories, or the District of Columbia.
���� "Physician
assistant" means a health professional who meets the qualifications under
P.L.1991, c.378 (C.45:9-27.10 et seq.) and holds a current, valid license
issued pursuant to section 4 of P.L.1991, c.378 (C.45:9-27.13).
���� "Preceptor" means an
individual who is an advanced practice nurse, certified nurse midwife,
certified registered nurse anesthetist, physician, physician assistant, or
psychologist, who meets the qualifications for precepting under the rules and
regulations of the New Jersey Board of Nursing, and who participates in the
instructional training of advanced practice nurse, certified nurse midwife, or
certified registered nurse anesthetist students.
���� "Preceptorship
program" means an organized system of clinical experience that, for the
purpose of attaining specified learning objectives, pairs a student enrolled in
a nursing education program that is recognized by the New Jersey Board of
Nursing with a preceptor.
���� "Psychologist" means
a person who is licensed as a psychologist by the New Jersey Board of
Psychological Examiners.
���� 2.��� A preceptor shall be
allowed a credit against the tax otherwise due for the taxable year under the
"New Jersey Gross Income Tax Act," N.J.S.54A:1-1 et seq., in an
amount equal to $1,000 for each advanced practice nurse, certified nurse
midwife, or certified registered nurse anesthetist student supervised by the
preceptor, during the taxable year, as part of a preceptorship program. The
preceptor shall be the primary supervisor of the student for at least 100
clinical hours during the taxable year in order to be eligible for the tax
credit allowed pursuant to this act.
���� 3.��� a.� A faculty of record
from an accredited school of nursing in New Jersey, or the faculty of record�s
designee, shall certify the number of students supervised by the preceptor
during the taxable year who may be included in the calculation of the tax
credit allowed pursuant to section 2 of this act.
���� b.��� The certification form
shall include the name of the preceptor, information identifying the school of
record and the faculty of record, or the faculty of record�s designee, and the
number of hours and names of the students whom the preceptor supervised.
���� 4.��� The certification form
required pursuant to section 3 of this act shall be submitted by the preceptor
to the Division of Taxation in the Department of the Treasury for approval by
the January 31 next following the completion of the applicable taxable year.
The director shall approve all forms that qualify for a tax credit pursuant to section
2 of this act on a first-come, first-served basis, and notify the preceptor
within 45 days of receipt of the preceptor�s application of its approval or
denial. The value of the tax credits approved under this act shall not exceed a
cumulative total of $10,000,000 annually.
���� 5.��� The director shall
prescribe the order of priority of the application of the tax credit allowed
under section 2 of this act and any other tax credits allowed by law against
the tax otherwise due for the taxable year under N.J.S.54A:1-1 et seq. The
amount of the tax credit applied under section 2 of this act against the tax
imposed under N.J.S.54A:1-1 et seq. for the taxable year, together with any
other tax credits allowed by law, shall not reduce the tax liability to an
amount less than zero, and any unused amount of the tax credit may not be
carried forward to any other taxable year.
���� 6.��� The New Jersey State
Treasurer shall, in accordance with the "Administrative Procedure
Act," P.L.1968, c.410 (C.52:14B-1 et seq.), adopt rules and regulations as
necessary to implement the provisions of this act.
���� 7.��� There is appropriated
from the General Fund to the Department of the Treasury such funds as shall be
necessary, but by no means more than $10,000,000, to implement the provisions
of this act.
���� 8. This act shall take effect
immediately and shall apply to taxable years beginning on or after the date of
enactment.
STATEMENT
���� This bill establishes a gross
income tax credit for preceptors of advanced practice nursing, certified nurse
midwife, or certified registered nurse anesthetist students. �The tax credit
would be equal to $1,000 per student primarily supervised by the preceptor; to
be eligible for the credit, the preceptor would be required to supervise the
student for at least 100 clinical hours during the taxable year. �The tax
credit program is limited to $10 million annually, and the tax credits awarded
under the program are non-refundable and may not be carried forward.� The bill
additionally appropriates such sums as may be necessary, up to a limit of $10
million, for nurse preceptor tax credits.
���� The bill defines a �preceptor�
as an advanced practice nurse, certified nurse midwife, certified registered
nurse anesthetist, physician, physician assistant, or psychologist, who meets
the qualifications for precepting under the rules and regulations of the New
Jersey Board of Nursing, and who participates in the instructional training of
advanced practice nurse, certified nurse midwife, or certified registered nurse
anesthetist students.