MS HB1590

Exempts net income from state income taxation for newly licensed physicians, physician assistants, nurses, nurse practitioners, nurse anesthetists, and dentists practicing in critical physician shortage areas for up to 10 consecutive years.

Defines "critical physician shortage area" as an area with no more than one physician per 2,500 residents, certified annually by December 31 by the Office of Mississippi Physician Workforce at the University of Mississippi Medical Center.

Defines "newly licensed" professionals as those licensed or certified for less than one year in their respective fields.

Designates an area as a critical shortage area for the entire duration a qualifying professional practices there, regardless of whether the physician-to-resident ratio later changes.

Requires the Department of Revenue to promulgate rules and regulations to implement and administer the tax exemption; effective July 1, 2015.