To amend the Internal Revenue Code of 1986 to create a tax credit for nurse preceptors.
One of the major impacts of HB10373 is the potential increase in the availability of nursing educators, which may contribute to improving the overall education and preparedness of new nurses entering the workforce. By making nurse preceptorship more financially appealing, the bill seeks to address the ongoing challenges in nursing education and workforce shortages. The legislation additionally mandates regular reporting and evaluation of the program's effectiveness, indicating a commitment to monitoring and addressing issues within nursing training and employment.
House Bill 10373, also known as the 'Providing Real-World Education and Clinical Experience by Precepting Tomorrow’s Nurses Act' or the 'PRECEPT Nurses Act', proposes an amendment to the Internal Revenue Code of 1986 aimed at creating a tax credit for nurse preceptors. This initiative is designed to incentivize registered nurses and healthcare providers to engage in the education and training of nursing students and newly hired nurses, particularly in areas officially designated as health professional shortage areas. Eligible nurse preceptors would be able to claim a credit of $2,000 per taxable year provided they meet specific criteria including serving at least 200 hours in their role during the year.
Concerns regarding HB10373 may center on the sustainability of funding for the tax credit, particularly given its scope over multiple years until 2030. Critics might argue about the reliance on unobligated COVID-19 relief funds to support this initiative, which could raise questions about long-term fiscal responsibility and the prioritization of healthcare education funding. Another contentious point could be whether the financial incentives effectively equate to real-world outcomes in increasing the number of qualified nurse preceptors, especially in underserved areas.