Code of Maryland Regulations
Title 10 - MARYLAND DEPARTMENT OF HEALTH
Part 1
Subtitle 01 - PROCEDURES
Chapter 10.01.01 - Income Tax Credits for Preceptors in Areas with Health Care Workforce Shortages
Section 10.01.01.10 - Limits and Excess Amounts
Universal Citation: MD Code Reg 10.01.01.10
Current through Register Vol. 51, No. 19, September 20, 2024
A. The amount of income tax credit stated in the income tax credit certificate may not exceed $10,000 for any individual in any taxable year.
B. Physician Preceptorship Program.
(1) The Department may not issue more than
$100,000 in income tax credit certificates for each taxable year.
(2) If the aggregate amount of income tax
credit certificates issued during a taxable year totals less than $100,000, the
excess amount may be issued for income tax credit certificates in the next
taxable year.
C. Nurse Practitioner Preceptorship Program.
(1) The
total amount of income tax credit certificates issued by the Department shall
be the lesser of:
(a) The total funds in the
Nurse Practitioner Preceptorship Tax Credit Fund for that year; or
(b) $100,000.
(2) Any excess amount of income tax credits
for a taxable year may be issued under income tax credit certificates in the
next taxable year.
D. Physician Assistant Preceptorship Tax Credit Fund. For each taxable year, the total amount of tax credit certificates issued by the Department may not exceed the lesser of:
(1) The total amount of funds
in the Physician Assistant Preceptorship Tax Credit Fund for that year;
or
(2) $100,000.
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