HB 380 Summary

• Increases state income tax credit for rural physicians from $5,000 to $6,000 for the 2014 tax year, with credit claimable for six consecutive years instead of five.

• Establishes $7,000 tax credit beginning in 2015 tax year for seven consecutive years, and $8,000 credit beginning in 2016 tax year for eight consecutive years.

• Maintains existing restrictions prohibiting physicians already practicing in rural communities as of May 4, 1993 from claiming the credit, and requiring returning physicians to have practiced in urban/large communities for at least three years.

• Prohibits physicians from transitioning between different credit tiers based on tax year of qualification.

• Directs the Department of Revenue to promulgate rules and regulations for implementation and administration of the tax credit provisions.