US SB538 | 2019-2020 | 116th Congress
Status
Spectrum: Partisan Bill (Democrat 3-0)
Status: Introduced on February 25 2019 - 25% progression, died in committee
Action: 2019-02-25 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on February 25 2019 - 25% progression, died in committee
Action: 2019-02-25 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Allows a business-related tax credit for employers who increase worker training expenditures. The credit is equal to 20% of the excess of (1) the qualified training expenditures for the year, over (2) the average of the adjusted qualified training expenditures for the three previous years. If the employer had no qualified training expenditures in any one of the three previous years, the credit is equal to 10% of the adjusted qualified training expenditures for the year. The credit applies to expenditures for the training of non-highly compensated employees (annual compensation does not exceed $82,000). The training must result in the attainment of a recognized postsecondary credential and be provided through an apprenticeship program; a program of training services that is included on a list of eligible training providers that states are required to maintain under the Workforce Innovation and Opportunity Act; a program that is conducted by an area career and technical education school, a community college, or a labor organization; or a program that is sponsored and administered by an employer, industry trade association, industry or sector partnership, or labor organization. Certain small businesses and tax-exempt organizations may apply the credit against payroll taxes, subject to specified limits and requirements. Eligible small businesses may also apply the credit against the alternative minimum tax.
Title
Investing in American Workers Act
Sponsors
Sen. Mark Warner [D-VA] | Sen. Debbie Stabenow [D-MI] | Sen. Robert Casey [D-PA] |
History
Date | Chamber | Action |
---|---|---|
2019-02-25 | Senate | Read twice and referred to the Committee on Finance. |
Same As/Similar To
HB5012 (Related) 2019-11-08 - Referred to the Committee on Ways and Means, and in addition to the Committee on Education and Labor, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Subjects
Employment and training programs
Employment taxes
Higher education
Income tax credits
Income tax rates
Licensing and registrations
Small business
Tax-exempt organizations
Taxation
Employment taxes
Higher education
Income tax credits
Income tax rates
Licensing and registrations
Small business
Tax-exempt organizations
Taxation
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/116th-congress/senate-bill/538/all-info |
Text | https://www.congress.gov/116/bills/s538/BILLS-116s538is.pdf |