§ 10-739.1. Tax credit for nurses serving without compensation as a preceptor in a preceptorshi...
West's Annotated Code of MarylandTax-GeneralEffective: July 1, 2022
Effective: July 1, 2022
MD Code, Tax - General, § 10-739.1
§ 10-739.1. Tax credit for nurses serving without compensation as a preceptor in a preceptorship program
(5) “Preceptorship program” means an organized system of clinical experience that, for the purpose of attaining specified learning objectives, pairs a licensed practical nurse or registered nurse student enrolled in a nursing education program that is recognized by the State Board of Nursing with a licensed practical nurse, advanced practice registered nurse, or registered nurse who meets the qualifications as a preceptor.
(b)(1) Subject to the limitations of this section, a licensed practical nurse, advanced practice registered nurse, or registered nurse may claim a credit against the State income tax in the amount stated on the tax credit certificate issued under subsection (c) of this section for the taxable year in which the licensed practical nurse, advanced practice registered nurse, or registered nurse served without compensation as a preceptor in a preceptorship program approved by the State Board of Nursing and worked:
(c)(1) On application by a licensed practical nurse, advanced practice registered nurse, or registered nurse, the Department shall issue a credit certificate in the amount of $1,000 for each student rotation of the minimum number of hours required under subsection (b)(1)(i) of this section for which the licensed practical nurse, advanced practice registered nurse, or registered nurse served as a preceptor without compensation.
(d)(1) In this section, “Fund” means the Licensed Practical Nurse and Registered Nurse Preceptorship Tax Credit Fund established under paragraph (2) of this subsection.
(e) On or before January 31 each taxable year, the Department shall:
(f) The Department, in consultation with the Governor's Workforce Development Board, shall adopt regulations to carry out the provisions of this section, including the criteria and procedures for application for, approval of, and monitoring eligibility for the tax credit authorized under this section.
Credits
Added by Acts 2022, c. 675, § 2, eff. July 1, 2022.
MD Code, Tax - General, § 10-739.1, MD TAX GENERAL § 10-739.1
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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