FISCAL NOTE
Date Requested: February 13, 2023
Time Requested: 04:23 PM |
| Agency: |
Higher Education Policy Commission |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 3597 |
Introduced |
HB3388 |
|
|---|
| CBD Subject: |
Health |
|---|
|
FUND(S):
Special
Sources of Revenue:
Special Fund
Legislation creates:
Creates New Program, Creates New Fund: Preceptor Tax Credit Program Fund
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
Summarize in a clear and concise manner what impact this measure will have on costs and revenues of state government.
This bill creates the Health Care Professionals Preceptor Tax Credit, which would encourage more community-based clinical preceptors to provide supervised practice hours that health professions’ trainees require to complete licensure. This bill proposes a nonrefundable tax credit to community-based preceptors.
Any preceptor wishing to participate would be required to register with the Higher Education Policy Commission and would be eligible to receive up to three, $500 tax credits on a first-come, first-served basis. Each credit is to be awarded upon completion of 160 hours of clinical preceptorship of a student enrolled in a health profession program at a West Virginia higher education institution.
Funding for the tax credits would be the excess funds held by each medical licensing board. These funds would be transferred to a special fund known as the Preceptor Tax Credit Program Fund. The amount of funds available each year for tax credits would be certified by the State Budget Office to the Higher Education Policy Commission.
There is not expected to be an impact on state appropriations because funding for the tax credits would vary annually based on excess funds held by medical licensing boards, and the tax credits would cease once all funds were distributed in a given year.
Fiscal Note Detail
| Effect of Proposal |
Fiscal Year |
2023
Increase/Decrease
(use"-") |
2024
Increase/Decrease
(use"-") |
Fiscal Year
(Upon Full
Implementation) |
| 1. Estmated Total Cost |
0 |
0 |
0 |
| Personal Services |
0 |
0 |
0 |
| Current Expenses |
0 |
0 |
0 |
| Repairs and Alterations |
0 |
0 |
0 |
| Assets |
0 |
0 |
0 |
| Other |
0 |
0 |
0 |
| 2. Estimated Total Revenues |
0 |
0 |
0 |
Explanation of above estimates (including long-range effect):
Please explain increases and decreases in personal services, current expenses, repairs and alterations, assets, other costs and revenues, including assumptions and data sources and delineation between start-up and ongoing costs. Please also include a long-range schedule of costs and revenues if fiscal impact is expected to vary in future years.
Memorandum
Please identify any areas of vagueness, technical defects, reasons a bill would not have a fiscal impact, and/or any special issues not captured elsewhere on this form.
Person submitting Fiscal Note: Robert Wallett
Email Address: robert.wallett@wvhepc.edu