S. 131: Providing Real-World Education and Clinical Experience by Precepting Tomorrow’s Nurses Act

This bill, known as the "Providing Real-World Education and Clinical Experience by Precepting Tomorrow’s Nurses Act" or the "PRECEPT Nurses Act," proposes to amend the Internal Revenue Code to provide a tax credit for certain nurse preceptors.

Tax Credit for Nurse Preceptors

The bill introduces a tax credit of $2,000 for eligible nurse preceptors. To qualify for this credit, nurse preceptors must fulfill several criteria:

• Service Requirement: Nurse preceptors must serve at least 200 hours during a taxable year in communities designated as health professional shortage areas.
• Eligible Nurse Preceptor: This refers to licensed registered nurses who provide mentorship and training to nursing students or newly hired nurses in their clinical practices.
• Certification: Nurse preceptors must obtain certification verifying that they have completed the required hours of service for the taxable year from their partnering academic institution or clinical site.

Definitions

The bill provides specific definitions that clarify the terms used:

• Nurse Preceptor: A licensed nurse or healthcare provider who supervises nursing students or new hires.
• Relevant Academic Institution: A nursing school where a nursing student or advanced practice nursing student is enrolled.
• Newly Hired: Refers to nurses who have been employed for less than six months.

Reporting Requirements

The bill outlines reporting requirements for the eligible nurse preceptors:

• They must obtain a certification that states their preceptorship hours.
• Multiple certifications can be sourced from different institutions to meet the hours required.

Duration and Evaluation

The provisions of this bill will not apply to any taxable year after December 31, 2032. Additionally, the Secretary of the Treasury is required to report on the effectiveness of this tax credit from 2026 to 2032, including:

• The number of taxpayers claiming the credit.
• The total hours served by nurse preceptors.
• The geographic distribution of the claimants.

By June 30, 2033, an evaluation of the credit's success in increasing the number of nurse preceptors will be presented to Congress.

Effective Date

The changes proposed by the bill will take effect for taxable years beginning after December 31, 2025.

Relevant Companies

• None found