Creating an advanced registered nurse practitioner preceptor tax credit available against the individual income tax, and including applicability provisions

This bill creates an advanced registered nurse practitioner preceptor tax credit available against the individual income tax. The bill defines preceptor to mean an advanced registered nurse practitioner who is a resident and who is currently licensed as a registered nurse under Code chapter 152 or Code chapter 152E, and who is licensed by the board as an advanced registered nurse practitioner. The bill defines clinical preceptorship to mean a mentoring experience under the direction of a nursing program where a preceptor is used to provide a clinical learning experience for a student who is a resident enrolled in the nursing program. In order to be eligible for the tax credit under the bill, a preceptor must provide uncompensated instruction and supervision during a clinical preceptorship, be employed at the clinical facility where the preceptorship occurs, be selected by the nursing program in collaboration with the clinical facility to participate in the clinical preceptorship, and have at least one year of experience in the preceptor role. The amount of the tax credit equals $1,000 per clinical preceptorship where at least 100 hours of clinical learning experience is provided, not to exceed $2,000 in the aggregate. The bill specifies that the tax credit is refundable, and in lieu of a refund, the taxpayer may elect to have the overpayment shown on the taxpayer’s final, completed return credited to the tax liability for the following tax year. The bill requires the preceptor to accurately document the student’s experience including the name of the student, the name of the nursing program, the hours of supervision, and the year of the student’s expected graduation. The bill requires the department of revenue to submit a report to the general assembly a report describing the activities of the tax credit for the most recent tax year for which the tax credit was available. The department of revenue is required to adopt rules to administer the bill. The bill applies to tax years beginning on or after January 1, 2026.