Establishing tax credit for certain physicians who locate to practice in WV

SB 637 creates a tax credit for physicians who move to West Virginia and practice in medically underserved areas. To qualify, physicians must have graduated from an accredited U.S. medical school, completed residency within the past year, and agree to practice in designated underserved areas for six years. The credit equals up to their personal taxable income for three consecutive years, but any unused portion is forfeited after that period. This aims to address West Virginia’s physician shortage by incentivizing new medical professionals to locate in communities with limited healthcare access.