The bill amends Section 42-64.26-3 of the General Laws concerning the "Stay Invested in RI Wavemaker Fellowships" program. It introduces new definitions and clarifications regarding eligibility for tax credits related to education loan repayment expenses. Specifically, the bill expands the definition of eligible applicants to include healthcare professionals who work as sole proprietors, partners in healthcare service partnerships, or members of single-member LLCs, provided they work a minimum of thirty-five (35) hours per week in Rhode Island.

Additionally, it specifies that these healthcare applicants must be high-demand healthcare practitioners or mental health professionals. The bill clarifies that eligibility extends to those who have completed an application on or after July 1, 2022. The act will take effect upon passage.

Statutes affected:
6277: 42-64.26-3