House Bill 1562 Summary

• Establishes the "Mississippi Critical Physician, Physician Assistant and Nurse Shortage Incentive Act of 2014" to attract and retain medical professionals in underserved areas.

• Exempts income derived from providing medical services in critical physician shortage areas (defined as areas with no more than one physician per 5,000 residents) from state income taxation for newly licensed physicians, physician assistants, and nurses.

• Qualifies newly licensed providers (those licensed less than one year or within one year of completing residency/fellowship) to claim the exemption for up to 10 consecutive years if they practice continuously in a designated shortage area.

• Requires the Office of Mississippi Physician Workforce at the University of Mississippi Medical Center to certify and designate critical shortage areas annually by December 31; designation remains effective for practicing providers regardless of subsequent ratio changes.

• Effective July 1, 2014; directs the Department of Revenue to promulgate implementing rules and regulations.