HB15-1238 Summary

• Creates a state income tax credit for health care preceptors (physicians, dentists, physical therapists, advanced practice registered nurses, physician assistants, and pharmacists) who mentor graduate students in health professional shortage areas for tax years 2015-2017.

• Provides a $1,000 annual credit for each preceptorship completed, increased to $1,500 if the preceptor serves at least 10 percent Medicaid patients, with a maximum annual credit of $1,500 per taxpayer.

• Requires preceptors to complete a full clinical rotation (approximately one month) with a single graduate student pursuing a professional degree in medicine, nursing, dentistry, physician assistantship, physical therapy, or pharmacy.

• Allows unused credits to be carried forward and applied against income tax liability for up to five succeeding tax years if the annual credit exceeds tax owed.

• Requires taxpayers to submit a certification form with their tax return, which can be provided by their employer or by the Colorado Area Health Education Center (CAHEC) program; CAHEC may charge a reasonable fee not exceeding $75 per certification.