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Tax Credits for Employers Hiring Apprentices: Supporting Workforce Development

This act introduces tax credits for employers who hire individuals participating in qualified apprenticeship programs. This aims to encourage businesses to invest in skill development, potentially opening new career paths for citizens and helping them gain valuable work experience.
Key points
Employers can receive a tax credit for hiring apprentices, reducing their operating costs.
The credit amount varies by apprentice age: $1,500 for those under 25 and $1,000 for those 25 and older.
The credit is available for a maximum of two years per apprentice and applies to programs with at least a 50% completion rate.
The goal is to increase the number of available apprenticeships, helping citizens gain employment and develop skills.
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Additional Information
LEAP Act
Print number: HR 7852
Sponsor: Rep. Wilson, Frederica S. [D-FL-24]
Process start date: 2024-03-29