This bill establishes an advanced registered nurse practitioner preceptor tax credit applicable against individual income tax. It defines key terms such as "preceptor," "clinical preceptorship," and "nursing program," and outlines the eligibility criteria for preceptors to qualify for the tax credit. To be eligible, preceptors must provide uncompensated instruction and supervision during a clinical preceptorship, be employed at the clinical facility, be selected by the nursing program, and have at least one year of experience in the preceptor role. The tax credit is set at $1,000 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 mandates that preceptors 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 tax credit is refundable, allowing taxpayers to either receive a refund or apply the overpayment to the following tax year's liability. The Department of Revenue is tasked with submitting an annual report to the General Assembly detailing the tax credit's activities, and it is required to adopt rules for the administration of this section. The provisions of this bill will take effect for tax years beginning on or after January 1, 2026.