In personal income tax, providing for preceptor tax deduction.
Impact
If enacted, HB 390 will modify the existing Pennsylvania Tax Reform Code by adding a specific provision for a preceptor tax deduction. This change is set to foster a culture of community service among healthcare providers, as it rewards them for their commitment to training the next generation of health professionals. The establishment of the Preceptor Certification Committee indicates a structured approach to implementing this tax deduction, ensuring that providers meet the necessary criteria to benefit from it. This could potentially lead to an increase in the number of clinical training opportunities available for students, addressing certain workforce gaps in healthcare.
Summary
House Bill 390 proposes a preceptor tax deduction for healthcare providers who supervise volunteering students in clinical training. Specifically, it allows eligible healthcare providers to deduct $1,000 from their taxable income for each volunteer-based supervised clinical training rotation. This initiative aims to encourage healthcare professionals to take on preceptor roles, thereby enhancing the educational opportunities for students in fields such as nursing and medicine. The bill highlights the importance of mentorship and training in the healthcare sector as a contributing factor to workforce development.
Sentiment
The general sentiment surrounding HB 390 appears to be positive, particularly among healthcare providers and educational institutions that may benefit from increased support and incentives for clinical education. Supporters argue that this bill will help alleviate some of the challenges faced in training environments, notably by incentivizing experienced practitioners to engage in teaching roles. Given the growing demand for healthcare professionals, the bill is seen as timely and beneficial for both the education system and healthcare delivery.
Contention
However, the bill is not without its points of contention. Critics may raise concerns about the financial implications for the state budget, as tax deductions could reduce the overall tax revenue. Additionally, there may be discussions about the adequacy of supervision provided by preceptors and the impact on quality of education received by students. Ensuring that the training provided meets high standards will be paramount, and some stakeholders might question how effectively the certification and verification processes will be implemented by the newly formed committee.
In personal income tax, further providing for classes of income; in corporate net income tax, further providing for definitions; and providing for personal health investment tax credit.
In personal income tax, further providing for imposition of tax and for taxability of estates, trusts and their beneficiaries; and, in corporate net income tax, further providing for manufacturing innovation and reinvestment deduction.
In personal income tax, further providing for classes of income; in corporate net income tax, further providing for definitions; and providing for personal health investment tax credit.
In personal income tax, further providing for definitions, providing for elective tax imposed at pass-through entity level and further providing for taxability of partners, for income of a Pennsylvania S corporation and for income taxes imposed by other states.