IL HB2374

Creates an income tax credit for advanced practice registered nurses (APRNs) licensed under Illinois's Nurse Practice Act who volunteer without pay to serve as preceptors for advanced practice nursing students.

Provides a credit of $200 per qualifying student per clinical week, with a maximum annual credit of $6,400 per taxpayer, for taxable years beginning January 1, 2024 or later.

Requires APRNs to supervise and instruct the same student for a minimum of 8 clinical weeks within a calendar year to qualify for the credit.

Restricts the credit so that only one taxpayer may claim a credit for any given qualifying student in a taxable year, and the credit cannot reduce a taxpayer's total tax liability below zero.

Takes effect immediately upon becoming law.