The act is expected to enhance the healthcare workforce by providing financial incentives, thereby encouraging more professionals to participate in clinical education. Currently, nursing programs are limited in their capacity to educate students due to a shortage of qualified preceptors willing to volunteer. By alleviating some financial burdens through tax credits, S0245 aims to foster greater participation in teaching roles among capable healthcare providers, thus improving the delivery of primary healthcare in Rhode Island, particularly in underserved communities.
Summary
S0245, titled the 'Clinical Preceptors Tax Credit Act', aims to incentivize healthcare professionals serving as clinical preceptors for nurse practitioner graduate students at Rhode Island's universities. The bill proposes a tax credit of up to $1,000 for healthcare professionals including nurse practitioners, physician assistants, and physicians, for their mentorship in clinical settings without financial compensation. Introduced on February 16, 2023, this act addresses the growing need for skilled healthcare providers in medically underserved areas, recognizing the pivotal role of nurse practitioners in filling gaps left by a stagnant primary healthcare workforce.
Contention
Discussion around S0245 is likely to center on potential fiscal implications, given that the total tax credits awarded are capped at $200,000 annually for a maximum of 200 preceptors. Questions may arise regarding the sustainability of this funding model and its effectiveness in genuinely increasing the number of clinical preceptors. Flexible regulatory frameworks allowing educational institutions to better utilize these professionals without incurring significant costs or raising tuition are also anticipated to be focal points of contention in legislative discussions. The act's provisions allow it to take effect from January 1, 2024, marking a strategic move towards addressing healthcare access in Rhode Island.
Establishes a clinical preceptorship personal income tax credit for certain health care professionals who provide preceptor instruction to students studying to be a health care professional.
Relating to state income tax; to establish the Preceptor Tax Incentive Program to provide income tax credit incentives for certain medical students who train in rural and underserved counties in the state.
Relating to state income tax; to establish the Preceptor Tax Incentive Program to provide income tax credit incentives for certain medical students who train in rural and underserved counties in the state.
To Enact The Preceptor Tax Incentive Program; And To Provide Incentives For Certain Medical Or Counseling Professionals To Train Students Who Are Learning To Become Medical Or Counseling Professionals.