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Minnesota Legislature

Office of the Revisor of Statutes

SF 290

as introduced - 91st Legislature (2019 - 2020) Posted on 01/22/2019 02:58pm

KEY: stricken = removed, old language.
underscored = added, new language.

Current Version - as introduced

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

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

Section 1. new text beginPRECEPTOR 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 taxable 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) If the amount of the credit that an individual is eligible to receive under this section
exceeds the individual's tax liability under Minnesota Statutes, chapter 290, the commissioner
of revenue shall refund the excess to the taxpayer.
new text end

new text begin (d) 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 (e) 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 of revenue 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, 2021, 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;
new text end

new text begin (3) the geographical distribution by county of the location of the preceptor's services;
new text end

new text begin (4) the professions of the preceptor and the students served by the preceptor; and
new text end

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, 2018, and before January 1, 2022.
new text end