What is the official ID of this bill?
The official print number for this legislation is HR 9461.
Tax Credit for Donations to Workforce Training and Apprenticeship Programs.
This law introduces a new tax credit for individuals who donate cash or securities to certified non-profit organizations running workforce development and apprenticeship programs. The goal is to incentivize private funding for skill development, potentially increasing the availability of trained workers. The credit is subject to annual limits (up to $150,000) and a national cap, effective from 2025 through 2028.
Key points
A new tax credit is available for individuals making charitable contributions to approved workforce training and apprenticeship organizations.
The credit is capped at $150,000 per taxpayer annually, but is also subject to a national volume limit of $5 billion per year (2025-2028), allocated on a first-come, first-served basis.
Taxpayers cannot claim both this credit and the standard charitable deduction for the same contribution, preventing a double tax benefit.
The provisions apply to taxable years ending after December 31, 2024, and the credit program is scheduled to end after 2028.
Status:
Expired
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