Maryland Enacts Income Tax Credit for Physician Preceptors

The Maryland Governor signed a law amending a state income tax credit for licensed physicians serving as preceptors for medical students and residents in healthcare workforce shortage areas. The law alters eligibility for the credit by: 1) repealing a requirement that a student in a physician preceptorship program be enrolled in a medical school or medical training program in the State; 2) reducing the required number of hours for a preceptor rotation for community-based clinical training; 3) limiting the excess amount of tax credit certificates the Department may carry forward to $100,000; and 4) applying the credit to taxable years ...