§ 10-738. Tax credit for licensed physician serving in a preceptorship program authorized by an...
West's Annotated Code of MarylandTax-GeneralEffective: June 1, 2021
Effective: June 1, 2021
MD Code, Tax - General, § 10-738
§ 10-738. Tax credit for licensed physician serving in a preceptorship program authorized by an accredited medical school
(4) “Preceptorship program” means an organized system of clinical experience that, for the purpose of attaining specified learning objectives, pairs an enrolled student of a Liaison Committee on Medical Education-accredited medical school in the State or an individual in a postgraduate medical training program in the State with a licensed physician who meets the qualifications as a preceptor.
(b)(1) Subject to the limitations of this section, a licensed physician 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 physician served without compensation as a physician preceptor in a preceptorship program authorized by an accredited medical school in the State and worked:
(c)(1) On application by a licensed physician, 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 physician served as a physician preceptor without compensation.
(d) On or before January 31 of each taxable year, the Department shall:
(e) 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 2016, c. 385, § 1, eff. July 1, 2016; Acts 2016, c. 386, § 1, eff. July 1, 2016. Amended by Acts 2016, c. 8, § 5; Acts 2017, c. 62, § 6; Acts 2019, c. 8, § 5; Acts 2021, c. 153, § 1, eff. June 1, 2021; Acts 2021, c. 154, § 1, eff. June 1, 2021.
MD Code, Tax - General, § 10-738, MD TAX GENERAL § 10-738
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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