Nurse Reinvestment Act

Nurse Reinvestment Act - Amends the Public Health Service Act to direct the Secretary of Health and Human Services to: (1) develop and issue public service announcements that advertise and promote the nursing profession, highlight the advantages and rewards of nursing, and encourage individuals from diverse communities and backgrounds to enter the nursing profession; and (2) award grants to designated eligible entities in order to increase the number of nurses. Establishes a fast-track nursing school faculty training program.

Establishes a National Nurse Service Corps Scholarship program that provides scholarships to individuals seeking nursing education in exchange for service by such individuals in areas with nursing shortages.

Amends the Internal Revenue Code to provide for the exclusion from gross income of accounts received under the National Nursing Service Corps Scholarship Program.

Amends title XVIII (Medicare) of the Social Security Act to provide for nurse education training payments to qualified entities.

Amends title XIX (Medicaid) of the Social Security Act to temporarily increase the matching rate for Medicaid nurse aide training and competency evaluation programs.