(1) The credit has been repealed effective December 31, 2010, and only physicians who began qualifying rural practice before April 1, 2007, can qualify for the credit. If the requirements described in (2) are met, a licensed physician who commences practice in a rural area is eligible for a credit against the physician's individual income tax liability of up to $5,000 a year for four successive years (up to $20,000 total) beginning in the year the practice commences. Each annual credit is subject to recapture and must be repaid as provided in ARM 42.4.603 if the physician ceases practice in the rural area within four years after the tax year the credit is allowed.

(2) The following requirements govern annual eligibility for the credit:

(a) the physician's practice must be open to the general public;

(b) the physician must conduct a rural practice on a full-time basis;

(c) the physician must maintain a rural practice for at least nine months of the tax year; and

(d) a physician may not claim the credit for any tax year during which the physician ceases to practice or does not practice in the rural area.

�(3) The credit is claimed by filing a statement with the individual income tax return for the tax year for which the credit is claimed setting forth:

(a) a statement that the physician is eligible to claim the rural physician's credit;

(b) the date the practice qualifying for the credit began;

(c) the location of the practice, including the street address and town; and

(d) the nearest hospital.