Establishing tax credit for certain physicians who locate to practice in WV

SB 115 creates a tax credit for physicians who relocate to West Virginia to practice in medically underserved or health professional shortage areas. To qualify, physicians must be licensed in West Virginia, graduates of an accredited U.S. medical school, and have completed a residency within the past year. The credit equals up to the physician's personal taxable income for three consecutive years, but requires a six-year commitment to practice in the state; failure to meet this term triggers repayment. The credit is applied against state income tax and must be claimed annually through the tax return.