Sec. 137602. Funding for the rural and underserved pathway to practice training programs for post-baccalaureate students and medical students
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Subpart C of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986, as amended by the preceding provisions of this Act, is amended by inserting after section 36F the following new section: In the case of a qualified educational institution, there shall be allowed as a credit against the tax imposed by this subtitle for any taxable year an amount equal to the aggregate amount paid or incurred by such institution during such taxable year pursuant to any Pathway to Practice medical scholarship voucher awarded to a qualifying student with respect to such institution.
For purposes of this section— an amount shall be treated as paid or incurred pursuant to an annual award of a Pathway to Practice medical scholarship voucher only if such amount is paid or incurred in reimbursement, or anticipation of, an expense described in subparagraphs
(A)through
(E)of paragraph
(4)of section 1899C(d) of the Social Security Act and is subject to verification in such manner as the Secretary of Health and Human Services may provide under paragraph
(6)of such section, and in the case of any amount credited by a qualified educational institution against a liability owed by the qualifying student to such institution, such amount shall be treated as paid by such institution to such student as of the date that such liability would otherwise be due. For purposes of this section— The term qualified educational institution means, with respect to any annual award of a Pathway to Practice medical scholarship voucher— any qualifying medical school (as defined in subsection (e)(6) of section 1899C of the Social Security Act), and any provider of a post-baccalaureate program referred to in subsection (b)(2)(A) of such section, which meets the requirements of subsection (d)(6) of such section. The term qualifying student means any student to whom the Secretary of Health and Human Services has made an annual award of a Pathway to Practice medical scholarship voucher under section 1899C of the Social Security Act. The term annual award of a Pathway to Practice medical scholarship voucher means the annual award of a Pathway to Practice medical scholarship voucher referred to in section 1899C(d)(3) of the Social Security Act. The credit allowed under subsection
(a)with respect to any Pathway to Practice medical scholarship voucher shall not exceed the amount of such voucher which is for expenses described in subparagraphs
(A)through
(E)of section 1899C(d)(4) of the Social Security Act, reduced by any amount of such voucher with respect to which credit was allowed under this section for any prior taxable year. The Secretary shall issue such regulations or other guidance as are necessary or appropriate to carry out the purposes of this section. . Section 6211(b)(4)(A), as amended by the preceding provisions of this Act, is amended by inserting 36G, after 36F, . Paragraph
(2)of section 1324(b) of title 31, United States Code, as amended by the preceding provisions of this Act, is amended by inserting 36G, after 36F, . The table of sections for subpart C of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986, and amended by the preceding provisions of this Act, is amended by inserting after the item relating to section 36F the following new item: Sec. 36G. Pathway to Practice medical scholarship voucher credit. . The Secretary of Health and Human Services shall annually provide the Secretary of the Treasury such information regarding the program under section 1899C of the Social Security Act as the Secretary of the Treasury may require to administer the tax credits determined under section 36G of the Internal Revenue Code of 1986, including information to identify qualifying students and the qualified educational institutions at which such students are enrolled and the amount of the annual award of the Pathway to Practice medical scholarship voucher awarded to each such student with respect to such institution. Terms used in this subparagraph shall have the same meaning as when used is such section 36G. The amendments made by this section shall apply to taxable years ending after the date of the enactment of this Act.