Oklahoma 2024 Regular Session

Oklahoma Senate Bill SB1446

Introduced
2/5/24  

Caption

Income tax credit; authorizing credit for individuals who conduct a preceptorship rotation. Effective date.

Impact

The bill is expected to significantly impact healthcare workforce development in Oklahoma. By providing financial incentives for faculty preceptors, it hopes to expand the number of qualified preceptors available for student training. This initiative could improve healthcare access, particularly in rural areas where such professionals are scarce. Furthermore, it may attract more students to enter medical professions, thus addressing shortages in primary care that have been noted in various parts of Oklahoma.

Summary

SB1446 is a legislative bill proposed in Oklahoma that establishes an income tax credit for individuals conducting preceptorship rotations. This credit is aimed at faculty preceptors who guide medical, physician assistant, and Advanced Practice Registered Nurse students in their training. The credit amount varies depending on the type of preceptor: $500 for the first three rotations of doctors, and $1,000 for each subsequent rotation, while the amounts for nurses and assistants are slightly lower. The intent is to incentivize existing professionals to take on teaching roles, ultimately enhancing medical education within the state.

Contention

However, there are potential points of contention surrounding the bill. Critics may argue about the sustainability of tax credits, particularly regarding the capped fund amount of $2.2 million annually. Additionally, there might be challenges in demonstrating measurable outcomes, such as the effectiveness of the preceptorship in increasing the number of healthcare providers in underserved areas. The balance between incentivizing training while maintaining quality education standards might also be a topic for discussion as the bill advances.

Companion Bills

No companion bills found.

Previously Filed As

OK SB577

Income tax credit; creating the Caring for Caregivers Act; authorizing tax credit for care and support expenditures; limiting annual credit. Effective date.

OK HB1934

Students; creating the Oklahoma Parental Choice Tax Credit Act; creating income tax credit for certain taxpayers.

OK SB747

Income tax credit; increasing volunteer firefighter tax credit for certain tax years. Effective date.

OK HB1029

Revenue and taxation; creating the Caring for Caregivers Act; creating family caregiver tax credit; credit caps; authorizing Tax Commission to promulgate rules; effective date.

OK SB386

Income tax credit; providing credit for certain purchases of naloxone. Effective date.

OK SB210

Income tax; credits; North American Industry Classification System; formula. Effective date.

OK HB1935

Students; creating the Oklahoma Parental Choice Tax Credit Act; creating income tax credit for certain taxpayers; emergency.

OK SB1083

Income tax credit; providing credit for school choice expenditures and home school expenditures. Effective date.

OK HB1655

Professions and occupations; Oklahoma Pharmacy Act, modifying definition; authorizing pharmacists to screen and test for certain conditions; codification; effective date.

OK HB2247

Revenue and taxation; creating the County Road and Bridge Funding Incentive Act of 2023; income tax credit; county population; training; effective date.

Similar Bills

OK HB3351

Medical preceptorship training; providing income tax credit; revolving fund; license fee; emergency.

OK SB1504

Income tax; income tax credit for preceptorship rotation; creating and specifying sources of funds; providing for transfer of monies to Oklahoma Tax Commission; authorizing administrative expenditures. Effective date. Emergency.

OK HB2634

Professions and occupations; Oklahoma Professions and Occupations Act of 2025; effective date.

OK HB2776

Health care workforce development; creating the Health Care Workforce Development and Finance Act of 2022; creating the Health Care Workforce Development Revolving Fund; renaming certain agency of the state.

AL HB280

Taxation, Preceptor Tax Incentive Program, established, income tax credit incentives provided for certain medical students