Tax Credit for Employers Hiring Apprentices: Boosting Workforce Training Programs.
This bill introduces a new income tax credit for employers who hire employees participating in qualified apprenticeship programs. The goal is to incentivize businesses to expand their apprenticeship opportunities, helping citizens gain valuable job skills and enter the workforce. Additionally, the act mandates federal agencies to reduce printing costs and increase transparency regarding the cost of government publications.
Key points
New Tax Credit: Employers can claim a $1,500 tax credit for each apprentice employee hired above their established baseline (typically 80% of the average over the preceding 3 years).
Credit Limit: The credit can be claimed for a maximum of two taxable years per apprenticeship employee.
Construction Sector Rules: For the construction industry (NAICS 23), the credit is generally limited to pre-apprenticeship graduates, provided the employer sponsors or participates in an apprenticeship program.
Government Cost Reduction: Federal agencies must develop a strategy to reduce printing costs over 10 years by moving publications online, while ensuring essential documents remain printed for populations with limited internet access.
Printing Transparency: Government publications must clearly list the issuing agency, total number of copies printed, and the collective cost of production and printing.
Expired
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