AN ACT to amend Tennessee Code Annotated, Title 67, relative to the "Mental Health Preceptor Tax Incentive Program."
Impact
If enacted, SB2171 will amend Tennessee Code Annotated, Title 67, to introduce a structured tax credit system. Employers who hire community-based faculty preceptors will receive a tax credit on their franchise and excise taxes for each completed preceptorship rotation focusing on mental health services. Specifically, financial incentives are outlined for different types of preceptors based on the number of rotations they supervise, emphasizing the importance of mental health training in the healthcare workforce.
Summary
Senate Bill 2171, known as the 'Mental Health Preceptor Tax Incentive Program,' is designed to provide tax credits to employers who engage in the training of medical and advanced practice registered nursing students in the field of mental health. The bill aims to incentivize community-based faculty preceptors, including physicians, nurse practitioners, and physician assistants, to facilitate hands-on training for students. By encouraging these professionals to act as preceptors, the bill seeks to enhance the quality of mental health education and service provision in Tennessee.
Contention
Though SB2171 supports mental health training through economic incentives, there is potential contention surrounding its implementation and the cap on credits. Critics might argue that limiting the number of tax credits per preceptor and capping the maximum credit could hinder broader participation. Additionally, questions may arise regarding the adequacy of the support needed for preceptors, how the program will be administered, and its overall impact on enhancing mental health services within communities. Stakeholders may pursue clarifications on how to ensure the program effectively integrates with existing healthcare education efforts.
Notable_points
The bill specifically outlines the types of preceptors eligible for these credits and sets financial limits on the tax credit accrued per rotation. This structured approach aims to attract a diverse pool of faculty preceptors who are essential to developing a competent workforce in mental health settings. The effective date for the program, which applies to tax years beginning January 1, 2025, allows for the necessary adjustments within the existing tax framework.
To Create The Preceptor Tax Incentive Program; And To Provide Incentives For Certain Medical Or Counseling Professionals To Train Certain Students Who Are Learning To Become Medical Or Counseling Professionals.
Establishes a clinical preceptorship personal income tax credit for certain health care professionals who provide preceptor instruction to students studying to be a health care professional.