SF 2469

as introduced - 89th Legislature (2015 - 2016) Posted on 03/11/2016 08:55am

A bill for an act
relating to taxation; individual income; establishing a temporary preceptor credit;
requiring a report.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1. new text begin PRECEPTOR CREDIT.
new text end

new text begin Subdivision 1. new text end

new text begin Credit allowed. new text end

new text begin (a) An individual who qualifies as a preceptor under
this section is allowed a credit against the tax imposed by Minnesota Statutes, chapter
290, equal to $5,000.
new text end

new text begin (b) For purposes of this section, a "preceptor" means a physician, advanced practice
registered nurse, physician assistant, or mental health professional who:
new text end

new text begin (1) served as a health professions student preceptor or medical resident preceptor for
at least 12 weeks or 480 hours during the preceding tax year; and
new text end

new text begin (2) received no additional compensation for serving as a preceptor to a medical
resident or medical student, advanced practice registered nurse, physician assistant, or
mental health professional student.
new text end

new text begin (c) For a nonresident or part-year resident taxpayer, the credit must be allocated
based on the percentage calculated under Minnesota Statutes, section 290.06, subdivision
2c, paragraph (e).
new text end

new text begin (d) The commissioner of revenue, in consultation with the commissioner of health,
shall prescribe the form and manner in which the credit must be claimed.
new text end

new text begin Subd. 2. new text end

new text begin Appropriation. new text end

new text begin An amount sufficient to pay the refunds required by this
section is appropriated to the commissioner from the general fund.
new text end

new text begin Subd. 3. new text end

new text begin Report. new text end

new text begin (a) By March 1, 2020, the commissioner of revenue, in
consultation with the commissioner of health, shall issue a report to the chairs and ranking
minority members of the committees of the house of representatives and senate with
jurisdiction over taxes, higher education, and health and human services detailing:
new text end

new text begin (1) the number of preceptors claiming the credit;
new text end

new text begin (2) the average amount of credits claimed;
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new text begin (3) the geographical distribution by county of the location of the preceptor's services;
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new text begin (4) the professions of the preceptor and the students served by the preceptor; and
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new text begin (5) the impact of the tax credit on the availability of preceptors in Minnesota.
new text end

new text begin (b) The report required under this subdivision must comply with Minnesota Statutes,
sections 3.195 and 3.197.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective for taxable years beginning after
December 31, 2015, and before January 1, 2019.
new text end