A bill to provide tax incentives to encourage physicians, dentists, and optometrists to practice in physician shortage areas.

Excludes, under the Internal Revenue Code in the case of a physician, dentist, or optometrist who engages in the practice of medicine, dentistry, or optometry, respectively, in a physician shortage area the gross income at the election of the taxpayer of the adjusted gross practice income from such practice in such area to the extent of: (1) $20,000 during the first taxable year of such practice; (2) $15,000 during the second taxable year of such practice; (3) 10,000 during the third taxable year of such practice; (4) $7,500 during the fourth taxable year of such practice; and (5) $5,000 during the fifth taxable year of such practice.

States that such exclusion shall apply to a physician, dentist, or optometrist with respect to practice in a physician shortage area only if he continuously engages in such practice for at least 2 years, commencing with the day on which he first engages in such practice.

Provides that the Secretary of Health, Education, and Welfare shall, on or before November 1 of each year (beginning with 1974), certify the physician shortage areas (if any) in each State for the following calendar year.