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Health-care Preceptors Tax Credit

Concerning modifications to the existing tax credit for rural and frontier health-care preceptors.
2022 Regular Session
Fiscal Policy & Taxes
Health Care & Health Insurance
Bill Summary

Under current law, for tax years commencing on or after January 1, 2017, but prior to January 1, 2023, the credit for health-care preceptors working in rural and frontier areas offers an income tax credit in the amount of $1,000 to health-care professionals who provide a preceptorship, an uncompensated mentoring experience for eligible health professional students that includes a specified minimum amount of personalized instruction, training, and supervision, during the applicable income tax year.

The bill modifies the tax credit by:

  • Extending the period for which the tax credit may be claimed to tax years commencing prior to January 1, 2033;
  • Allowing up to 300, rather than 200, preceptors to claim the credit in any tax year;
  • Expanding who may offer a preceptorship to include a medical doctor, doctor of osteopathic medicine, advanced practice nurse, physician assistant, doctor of dental surgery or doctor of dental medicine, registered nurse, registered dental hygienist, pharmacist, licensed clinical or counseling psychologist, licensed clinical social worker, licensed professional counselor, licensed marriage and family therapist, psychiatric nurse specialist, licensed addiction counselor, or certified addiction counselor working in an outpatient clinical setting who has been licensed in his or her primary health-care field in the state by the applicable licensing authority;
  • Expanding who may participate in a preceptorship to include individuals matriculating at any accredited Colorado institution of higher education seeking a degree or certification in a primary health-care field;
  • Allowing nonconsecutive days to be counted when determining the eligibility of a preceptorship for the credit;
  • Modifying the definitions of "rural areas", "preceptorship", and "primary health-care" for purposes of the tax credit;
  • Modifying the certification requirements for taxpayers who claim the tax credit; and
  • Providing a tax preference performance statement for the tax credit.

(Note: Italicized words indicate new material added to the original summary; dashes through words indicate deletions from the original summary.)

(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)


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Bill Text