This bill establishes an advanced registered nurse practitioner preceptor tax credit that can be applied 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 clinical preceptorship, including details about the student and the nursing program. It also requires the Department of Revenue to submit an annual report to the General Assembly detailing the activities related to the tax credit, including the amount claimed and the number of students supervised. The bill will take effect for tax years beginning on or after January 1, 2026.