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STATE OF OKLAHOMA
2nd Session of the 59th Legislature (2024)
SENATE BILL 1504 By: Thompson (Kristen)
AS INTRODUCED
An Act relating to medical preceptorship training ;
defining terms; providing income tax credit for
certain individuals who c onduct a preceptorship
rotation; providing amount of and basis for credit;
providing limitations on credits allowed; prohibiting
refundability of credit; auth orizing the carry
forward of credit; directing t he State Board of
Medical Licensure and Supervisio n and State Board of
Osteopathic Examiners to award credit; limiting the
amount of credit awarded to balance of certain
revolving funds; auth orizing allocation of parti al
credit; authorizing credits not allowed to be claimed
in subsequent year; specifying eligibility for
credit; directing the State Board of Medical
Licensure and Supervision and State Board of
Osteopathic Examiners to deposit certain fees in
revolving fund for certain purpose; requ iring
submission of information; auth orizing promulgation
of rules; creating the Physician Preceptor Tax Credit
Revolving Fund, the Physician Assistant Preceptor Tax
Credit Revolving Fund , and the Osteopathic Physician
Preceptor Tax Credit Revolving Fund ; specifying
sources of funds; requiring accrued funds to be
deposited in the General Revenue Fund; stating
purpose; providing for codificatio n; and providing an
effective date.
BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
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SECTION 1. NEW LAW A new section of law to be codif ied
in the Oklahoma Statutes as Section 2357.409 of Title 68, unless
there is created a duplication in numbering, reads as follows:
A. As used in this section:
1. “Faculty preceptor” means an allopathic physician,
osteopathic physicia n, or physician assistant licensed in this
state;
2. “Medical school” means a legally chartered medical school
recognized by the Oklahoma State Regents for Higher Education ;
3. “Medical student” means a student currently enrolled in a
medical school in this state or a school or college of osteopathic
medicine in this state;
4. “Physician assistant student” means an individual
participating in a state-supported training program in t his state
that is approved by the State Board of Medical Licensure and
Supervision for the training of individuals to become physician
assistants as defined in Section 519.2 of Title 59 of the Oklahoma
Statutes;
5. “Preceptorship rotation” means a period of preceptorship
training of one or more me dical students, residents, or physician
assistant students that in aggregate totals one hundred sixty (160)
hours;
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6. “Preceptorship training” means uncompensated training of a
medical student, resident, or physician assistant student enrolled
in a training program in this state;
7. “Resident” means an allopathic physician or osteopathic
physician pursuing post-graduate medical educat ion at a program
supported by a medical school or a school or college of osteopathic
medicine in this state; and
8. “School or college of osteopathic me dicine” shall have the
same meaning as provided by Section 631 of Title 59 of the Oklahoma
Statutes.
B. 1. For tax years 2025 through 2034 , there shall be allowed
a credit against the tax imposed pursuant to Section 2355 of Title
68 of the Oklahoma Statutes for a faculty preceptor who conducts a
preceptorship rotation.
2. Except as provided for by subsection F of this section,
credit shall be allowed for no greater than ten (10) preceptorship
rotations completed in a calendar year, and shall be equal to the
following amounts:
a. for a medical student or resident, Five Hundred
Dollars ($500.00) each for the first, second, or third
preceptorship rotatio ns and One Thousand Dollars
($1,000.00) each for up to seven (7) subsequent
rotations, and
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b. for a physician assistant student, Three Hundred
Seventy-five Dollars ($375.00) each for the first,
second, or third preceptorship rotations and Seven
Hundred Fifty Dollars ($750.00) each for up to seven
(7) subsequent rotations.
C. The credit authorized by this section shall not be used to
reduce the tax liability of the taxpayer to less than zero (0).
D. To the extent not used, the credits authorized by this
section may be carried over, in order, to each of the five (5)
subsequent tax years.
E. 1. The State Board of Medical Licensure and Supervision
shall award the credit authorized by subsection B of this section to
faculty preceptors for preceptorship rotati ons of:
a. medical students enrolled in a medical school in this
state,
b. residents who are allopathic physician s pursuing post-
graduate medical education at a program supported by a
medical school in this state, and
c. physician assistant students.
2. The State Board of Osteopathic Examiners shall award the
credit authorized by subsection B of this section to faculty
preceptors for preceptorship rotations of:
a. medical students enrolled in a school or colle ge of
osteopathic medicine in this state, and
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b. residents who are osteopathic physicians pursuing
post-graduate medical edu cation at a program supported
by a school or college of osteopathic medicine in this
state.
F. 1. The credit awarded by the Sta te Board of Medical
Licensure and Supervision under subparagraphs a and b of paragraph 1
of subsection E of this section for the tax year shall not exceed
the amount deposited i n the preceding fiscal year to the Physician
Preceptor Tax Credit Revolving Fund created in Section 2 of this
act.
2. The credit awarded by the State Board of Medical Licensure
and Supervision under subparagraph c of paragraph 1 of subsectio n E
of this section for the tax year shall not exceed the amount
deposited in the preceding f iscal year to the Physician Assistant
Preceptor Tax Credit Revolving Fund created in Section 3 of this
act.
3. The credit awarded by the State Board of Osteopathic
Examiners under paragraph 2 of subsection E of this section for the
tax year shall not exceed the amount deposi ted in the preceding
fiscal year to the Osteopathic Physician Preceptor Tax Credit
Revolving Fund created in Section 4 of this act.
G. Partial claims for cr edit may be awarded. Credits earned
but not allowed due to the application of the limitation provided in
this section shall be considered suspended and authorized to be used
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in the subsequent tax year and applied to the next tax year ’s
limitation.
H. In order to receive the credit provided pursuant to this
section, a faculty preceptor shall:
1. Claim the credit for the tax year in which the preceptorship
rotation was completed;
2. Certify that he or she did not receive payment during the
tax year from any source for providing the training; and
3. Supply supporting documentation a s may be required by the
State Board of Medical Licensure and Supervision or the State Board
of Osteopathic Examiners.
I. 1. The State Board of Medical Li censure and Supervision
shall reserve Five Dollars ($5.00) of every annual licensu re fee
received from allopathic phy sicians and shall deposit the sum to the
Physician Preceptor Tax Credit Revolving Fund created in Section 2
of this act for the purpose of providing funding for the credit
authorized by this section.
2. The State Board of Medical Licensur e and Supervision shall
reserve Two Dollars ($2.00) of every annual licensure fee received
from physician assistants and shall deposit the sum to the Physician
Assistant Preceptor Tax Credit Revolving Fund created in Section 3
of this act for the purpose of providing fundi ng for the credit
authorized by this section.
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3. The State Board of Osteopathic Examiners shall reserve Five
Dollars ($5.00) of every annual licensure fee rece ived from
osteopathic physicians and shall deposit the sum to the Osteopathic
Physician Preceptor Tax Credit Re volving Fund created in Section 4
of this act for the purpose of providing funding for the credit
authorized by this section.
J. Each tax year, the State Board of Medical Licensure and
Supervision and the State Board of Osteopathic Examiners shall
electronically submit information to the Oklahoma Tax Commission ,
which shall include:
1. The number and amount of t ax credits awarded;
2. The name of the taxpayers that were awarded credit; and
3. The amount deposited in the Physician Preceptor Tax Credit
Revolving Fund, created in Section 2 of this act , the Physician
Assistant Preceptor Tax Credit Revolving Fund , created in Section 3
of this act, and the Osteopathic Physician Preceptor Tax Credit
Revolving Fund, created in Section 4 of this act.
K. The Oklahoma Tax Commission, the State Board of Medical
Licensure and Supervision, and the State Board of Osteopathic
Examiners may promulgate rules to e ffectuate the provisions of this
act.
SECTION 2. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 495i of Title 59, unless there
is created a duplication in numbering, reads as follows:
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There is hereby created in the State Treasury a revolving fund
for the State Board of Medical Licensure and Supervision to be
designated the “Physician Preceptor Tax Credit Revolving Fund”. The
fund shall be a continuing fund, not subject to fiscal year
limitations, and shall consist of the monies received by the Board
from a portion of licensure f ees received from allopathic physicians
under subsection I of Section 1 of this act. All monies accruing to
the credit of the fund are hereby appropriated and the entire
balance of the fund shall be deposited to the General Revenue Fund
at the end of each fiscal year. The deposits to the General Revenue
Fund shall be for the purpose of mitigating the impact of awarding
the tax credit authorized under Section 1 of this act to allopathic
physicians.
SECTION 3. NEW LAW A new section o f law to be codified
in the Oklahoma Statutes as Section 519.8a of Title 59, unless there
is created a duplication in numbering, reads as follows:
There is hereby created in the State Treasury a revolving fund
for the State Board of Medical Licensure and Supervision to be
designated the “Physician Assistant Preceptor Tax Credit Revolving
Fund”. The fund shall be a continuing fund, not subject to fiscal
year limitations, and shal l consist of the monies received by the
Board from a portion of licensure fees received from physician
assistants under subsection I of Section 1 of this act. All monies
accruing to the credit of the fund are hereby appropriated and the
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entire balance of the fund shall be deposited to the General Revenue
Fund at the end of each fiscal year. The deposits to the General
Revenue Fund shall be for the purpose of mitigating the impact of
awarding the tax credit authorized under Section 1 of this act to
physician assistants.
SECTION 4. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Sec tion 645.1 of Title 59, unless there
is created a duplication in numbering, reads as follows:
There is hereby created in the State Treasury a revolving fund
for the State Board of Osteopathic Examiners to be designated the
“Osteopathic Physician Preceptor Tax Credit Revolving Fund”. The
fund shall be a continui ng fund, not subject to fiscal year
limitations, and shall consist of the monies received by the Board
from a portion of licensure fees received from osteopathic
physicians under subsection I of Section 1 of this act. All monies
accruing to the credit of the fund are hereby appropriated and the
entire balance of the fund shall be deposited to the General Revenue
Fund at the end of each fiscal year. The deposits to the General
Revenue Fund shall be for the purpose of mitigating the impact of
awarding the tax credit authorized under Section 1 of this act to
osteopathic physicians.
SECTION 5. This act shall become effective November 1, 2024.
59-2-2475 QD 12/15/2023 10:50:53 PM