AL SB73

Increases the state income tax credit for rural physicians from $5,000 to $6,000 for the 2014 tax year, with the credit period extending from 5 consecutive years to 6 consecutive years.

Establishes a $7,000 tax credit for qualifying rural physicians beginning in the 2015 tax year, allowing the credit to be claimed for 7 consecutive years.

Establishes an $8,000 tax credit for qualifying rural physicians beginning in the 2016 tax year, allowing the credit to be claimed for 8 consecutive years.

Prohibits physicians from moving between progressive credit years and maintains the requirement that physicians must have practiced in a large or urban community for at least 3 years before returning to rural practice.

Directs the Department of Revenue to promulgate rules and regulations to implement and administer the amended tax credit provisions.