This bill amends the Income Tax Act of 1967 by adding a new section that establishes a tax credit for taxpayers who serve as preceptors for advanced practice nursing program-required clinical rotations at approved health care sites in Michigan. Specifically, for tax years beginning on or after January 1 and ending on December 31, 2030, eligible taxpayers can claim a credit of $500 for every 250 hours served as a preceptor, with a maximum credit of $1,500 per tax year. To qualify for this credit, taxpayers must provide a certified statement confirming they did not receive payment for their preceptor services, along with supporting documentation of their hours.

Additionally, the bill mandates that the Department of Treasury submit annual reports to various state officials from July 1, 2027, through 2031, detailing the effectiveness of the tax credit, the number of claims submitted, and the total amount of credits claimed. The bill also defines key terms such as "advanced practice nursing program-required clinical rotation," "advanced practice registered nurse," "institution of higher education," and "preceptor" to clarify eligibility and the scope of the credit.

Statutes affected:
House Introduced Bill: 206.1, 206.847