MI HB4730

Establishes a tax credit for physicians and physician assistants serving as preceptors for medical school or physician assistant program clinical rotations at approved Michigan health care sites for tax years 2024-2028

Allows a credit of $1,000 for every 250 hours completed as a preceptor, with a maximum credit of $5,000 per tax year

Requires taxpayers to submit a certified statement confirming they received no payment for preceptor services and supporting documentation of hours worked with their annual tax return

Permits refunds of any credit amount exceeding the taxpayer's tax liability for the year

Defines preceptor as a physician or physician's assistant who provides supervision and instruction during student clinical rotations without compensation