HEALTH CARE PRECEPTOR TAX CREDIT

HB 395 creates a $1,000 annual income tax credit for licensed healthcare professionals (such as doctors, nurses, or dentists) who serve as preceptors at New Mexico colleges or universities. To qualify, preceptors must provide at least four weeks of free clinical training to graduate students pursuing healthcare degrees (like medicine, nursing, or pharmacy) at accredited New Mexico institutions. The credit reduces the preceptor’s state tax bill, with unused portions carried forward to future years. Applications require certification from the employing institution confirming the training period and the student’s program. This policy directly supports healthcare educators by offering a financial incentive for their clinical training work.