This bill establishes an advanced registered nurse practitioner preceptor tax credit applicable against individual income tax. It defines key terms such as "clinical practicum," "clinical preceptorship," "nursing program," "preceptor," and "student." To qualify for the tax credit, a preceptor must provide uncompensated instruction and supervision during a clinical preceptorship, be employed at the clinical facility, be selected by the nursing program in collaboration with the facility, and have at least one year of experience in the preceptor role. The tax credit is set at $500 per clinical preceptorship, provided that at least 100 hours of clinical learning experience is delivered, with a maximum aggregate credit of $2,000.

Additionally, the bill stipulates that any tax credit exceeding the tax liability is non-refundable and cannot be carried over to future tax years. Preceptors are required to maintain accurate documentation of the students' experiences, including essential details such as the student's name, nursing program, hours of supervision, and expected graduation year. The Department of Revenue is tasked with adopting rules to administer this tax credit, which will be effective for tax years beginning on or after January 1, 2026.