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HOUSE BILL 395
57
TH LEGISLATURE
-
STATE
OF
NEW
MEXICO
-
FIRST SESSION
,
2025
INTRODUCED BY
Anita Gonzales and Elizabeth "Liz" Thomson and Marianna Anaya
and Patricia A. Lundstrom
AN ACT
RELATING TO TAXATION; CREATING THE HEALTH CARE PRECEPTOR INCOME
TAX CREDIT.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
SECTION 1. A new section of the Income Tax Act is enacted
to read:
"[NEW MATERIAL] HEALTH CARE PRECEPTOR INCOME TAX CREDIT.--
A. A taxpayer who is not a dependent of another
individual, who is a preceptor employed by any accredited New
Mexico institution of higher education and who has performed a
preceptorship of not less than four weeks in New Mexico may
apply for, and the department may allow, a credit against the
taxpayer's tax liability imposed pursuant to the Income Tax
Act. The tax credit provided by this section may be referred
to as the "health care preceptor income tax credit".
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B. The health care preceptor income tax credit
shall not exceed one thousand dollars ($1,000) for any
preceptorships performed in the taxable year in which the
credit is claimed.
C. A taxpayer may claim a health care preceptor
income tax credit for the taxable year in which the taxpayer
performs a preceptorship. To receive the tax credit, a
taxpayer shall apply to the department on forms and in the
manner prescribed by the department. The application shall
include a certification made by the institution for which the
taxpayer is employed and for which the preceptorship was
performed.
D. That portion of a health care preceptor income
tax credit that exceeds a taxpayer's tax liability in the
taxable year in which the credit is claimed may be carried
forward and applied against the taxpayer's income tax liability
in succeeding years until the credit is exhausted.
E. A taxpayer allowed a tax credit pursuant to this
section shall report the amount of the credit to the department
in a manner required by the department.
F. The department shall include the tax credit in
the tax expenditure budget compiled pursuant to Section 7-1-84
NMSA 1978.
G. As used in this section:
(1) "eligible graduate student" means an
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individual matriculating at the graduate level at any
accredited New Mexico institution of higher education seeking a
degree in the areas of doctor of medicine, doctor of
osteopathy, advanced nursing practice, doctor of dental
surgery, pharmacy, psychology, social work or dental medicine
or as a physician assistant;
(2) "eligible professional degree" means a
degree or certificate that fulfills a requirement to practice
as a medical doctor, osteopathic physician, advanced practice
nurse, physician assistant, dentist, pharmacist, psychologist
or social worker;
(3) "preceptor" means an individual licensed
as a medical doctor, osteopathic physician, advanced practice
nurse, physician assistant, dentist, pharmacist, psychologist
or social worker; and
(4) "preceptorship" means an uncompensated
period of supervised clinical training during which a preceptor
provides a program of personalized instruction, training and
supervision to an eligible graduate student to enable the
student to obtain an eligible professional degree."
SECTION 2. APPLICABILITY.--The provisions of this act
apply to taxable years beginning on or after January 1, 2025.
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