The PRECEPT Nurses Act creates a $2,000 annual tax credit for registered nurses and other health care providers who work as preceptors, meaning they supervise and mentor nursing students or newly hired nurses for at least 200 hours per year in designated health professional shortage areas. The credit applies to nurses working with nursing students, advanced practice nursing students, or newly hired nurses within their first six months of employment, and requires certification from either the academic institution or clinical workplace to claim the credit. The program runs from 2024 through 2030, after which the tax credit expires, and participating nurses must provide documentation showing they met the minimum 200-hour preceptorship requirement. The federal government will fund the tax credits by redirecting unused COVID-19 relief funding that has expired, ensuring the program does not require new appropriations. Congress will receive annual reports on the number of participating preceptors, hours served, geographic distribution, and a final evaluation by June 2031 assessing whether the credit successfully increased the number of nurse preceptors across the country.