A bill to provide tax incentives to encourage physicians, dentists, and optometrist 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 1972), certify the physician shortage areas (if any) in each State for the following calendar year.

Sets forth criteria which the Secretary shall consider in making such certifications. Authorizes the Secretary to prescribe such regulations as may be necessary to carry out the purposes of this Act.