Okla. Stat. tit. 68 § 2357.409

Current through Laws 2024, c. 378.

Section 2357.409

A. As used in this section:

1. "Advanced practice registered nursing student" means an individual participating in a state-supported training program in this state that is approved by the Oklahoma Board of Nursing for the training of individuals to become Advanced Practice Registered Nurses as defined in Section 567.3a of Title 59 of the Oklahoma Statutes;

2. "Faculty preceptor" means an allopathic physician, osteopathic physician, physician assistant, or Advanced Practice Registered Nurse licensed in this state and who provides primary care services;

3. "Medical school" means a legally chartered medical school recognized by the Oklahoma State Regents for Higher Education;

4. "Medical student" means a student currently enrolled in a medical school in this state or a school or college of osteopathic medicine in this state;

5. "Physician assistant student" means an individual participating in a state-supported training program in this state that is approved by the State Board of Medical Licensure and Supervision for the training of individuals to become physician assistants as defined in Section 519.2 of Title 59 of the Oklahoma Statutes;

6. "Preceptorship rotation" means a period of preceptorship training of one or more medical students, residents, physician assistant students, or advanced practice registered nursing students that in aggregate totals one hundred sixty (160) hours;

7. "Preceptorship training" means uncompensated training in primary care services of a medical student, resident, physician assistant student, or advanced practice registered nursing student enrolled in a training program in this state;

8. "Primary care services" means family medicine, geriatrics, general internal medicine, general pediatrics, or the substantial equivalent of such services when performed by a physician assistant or Advanced Practice Registered Nurse;

9. "Resident" means an allopathic physician or osteopathic physician pursuing postgraduate medical education at a program supported by a medical school or a school or college of osteopathic medicine in this state; and

10. "School or college of osteopathic medicine" shall have the same meaning as provided by Section 631 of Title 59 of the Oklahoma Statutes.

1. For tax years 2026 through 2035, there shall be allowed a credit against the tax imposed pursuant to Section 2355 of Title 68 of the Oklahoma Statutes for a faculty preceptor who conducts a preceptorship rotation.

2. Except as provided for by subsection F of this section, credit shall be allowed for no greater than ten preceptorship rotations completed in a calendar year, and shall be equal to the following amounts:

a. for a medical student or resident, Two Hundred Ninety Dollars ($290.00) each for the first, second, or third preceptorship rotations and Five Hundred Ninety Dollars ($590.00) each for up to seven subsequent rotations, and

b. for a physician assistant student or advanced practice registered nursing student, One Hundred Sixty-five Dollars ($165.00) each for the first, second, or third preceptorship rotations and Three Hundred Forty Dollars ($340.00) each for up to seven subsequent rotations.

C. The credit authorized by this section shall not be used to reduce the tax liability of the taxpayer to less than zero (0).

D. To the extent not used, the credits authorized by this section may be carried over, in order, to each of the five (5) subsequent tax years.

E. The Health Care Workforce Training Commission shall award the credit authorized by subsection B of this section to faculty preceptors for preceptorship rotations of:

1. Medical students enrolled in a medical school in this state;

2. Residents who are allopathic physicians pursuing postgraduate medical education at a program supported by a medical school in this state;

3. Physician assistant students;

4. Medical students enrolled in a school or college of osteopathic medicine in this state;

5. Residents who are osteopathic physicians pursuing postgraduate medical education at a program supported by a school or college of osteopathic medicine in this state; and

6. Advanced practice registered nursing students.

1. The credits awarded by the Health Care Workforce Training Commission under paragraphs 1 and 2 of subsection E of this section for the tax year shall not exceed the amount deposited to the Physician Preceptor Tax Credit Revolving Fund created in Section 2 of this act during the fiscal year ending on the June 30 date immediately preceding the date upon which the applicable income tax year begins.

2. The credits awarded by the Health Care Workforce Training Commission under paragraph 3 of subsection E of this section for the tax year shall not exceed the amount deposited to the Physician Assistant Preceptor Tax Credit Revolving Fund created in Section 3 of this act during the fiscal year ending on the June 30 date immediately preceding the date upon which the applicable income tax year begins.

3. The credits awarded by the Health Care Workforce Training Commission under paragraphs 4 and 5 of subsection E of this section for the tax year shall not exceed the amount deposited to the Osteopathic Physician Preceptor Tax Credit Revolving Fund created in Section 4 of this act during the preceding fiscal year ending on the June 30 date immediately preceding the date upon which the applicable income tax year begins.

4. The credits awarded by the Health Care Workforce Training Commission under paragraph 6 of subsection E of this section for the tax year shall not exceed the amount deposited to the Advanced Practice Registered Nurses Preceptor Tax Credit Revolving Fund created in Section 5 of this act during the preceding fiscal year ending on the June 30 date immediately preceding the date upon which the applicable income tax year begins.

G. Partial claims for credit may be awarded. Credits earned but not allowed due to the application of the limitation provided in this section shall be considered suspended and authorized to be used in the subsequent tax year and applied to the next tax year's limitation.

H. In order to receive the credit provided pursuant to this section, a faculty preceptor shall:

1. Claim the credit for the tax year in which the preceptorship rotation was completed;

2. Certify that he or she did not receive payment during the tax year from any source for providing the training; and

3. Supply supporting documentation as may be required by the Health Care Workforce Training Commission.

1. The State Board of Medical Licensure and Supervision shall reserve Seven Dollars ($7.00) of every annual licensure fee received from allopathic physicians and shall deposit the sum to the Physician Preceptor Tax Credit Revolving Fund created in Section 2 of this act for the purpose of providing funding for the credit authorized by this section.

2. The State Board of Medical Licensure and Supervision shall reserve Four Dollars ($4.00) of every annual licensure fee received from physician assistants and shall deposit the sum to the Physician Assistant Preceptor Tax Credit Revolving Fund created in Section 3 of this act for the purpose of providing funding for the credit authorized by this section.

3. The State Board of Osteopathic Examiners shall reserve Seven Dollars ($7.00) of every annual licensure fee received from osteopathic physicians and shall deposit the sum to the Osteopathic Physician Preceptor Tax Credit Revolving Fund created in Section 4 of this act for the purpose of providing funding for the credit authorized by this section.

4. The Oklahoma Board of Nursing shall reserve Four Dollars ($4.00) of every annual licensure fee received from Advanced Practice Registered Nurses and shall deposit the sum to the Advanced Practice Registered Nurses Preceptor Tax Credit Revolving Fund created in Section 5 of this act for the purpose of providing funding for the credit authorized by this section.

1. With respect to each tax year for which any tax credit authorized by this section is awarded, the Health Care Workforce Training Commission shall electronically submit information to the Oklahoma Tax Commission, which shall include the number and amount of tax credits awarded and the name of the taxpayers that were awarded credits.

2. With respect to each fiscal year the State Board of Medical Licensure and Supervision, the State Board of Osteopathic Examiners, and the Oklahoma Board of Nursing shall electronically submit to the Health Care Workforce Training Commission and the Oklahoma Tax Commission the amount deposited in the Physician Preceptor Tax Credit Revolving Fund created in Section 2 of this act, the Physician Assistant Preceptor Tax Credit Revolving Fund created in Section 3 of this act, the Osteopathic Physician Preceptor Tax Credit Revolving Fund created in Section 4 of this act, and the Advanced Practice Registered Nurses Preceptor Tax Credit Revolving Fund created in Section 5 of this act.

K. The Oklahoma Tax Commission, the Health Care Workforce Training Commission, the State Board of Medical Licensure and Supervision, the State Board of Osteopathic Examiners, and the Oklahoma Board of Nursing may promulgate rules to effectuate the provisions of this act.

Okla. Stat. tit. 68, § 2357.409

Added by Laws 2024, c. 316,s. 1, eff. 5/16/2024.