H.R.4983 - To amend the Internal Revenue Code of 1986 to provide a credit to businesses whose employees teach at community colleges.108th Congress (2003-2004)
|Sponsor:||Rep. Pascrell, Bill, Jr. [D-NJ-8] (Introduced 07/22/2004)|
|Committees:||House - Ways and Means|
|Latest Action:||07/22/2004 Referred to the House Committee on Ways and Means. (All Actions)|
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Text: H.R.4983 — 108th Congress (2003-2004)All Bill Information (Except Text)
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Introduced in House (07/22/2004)
[Congressional Bills 108th Congress] [From the U.S. Government Printing Office] [H.R. 4983 Introduced in House (IH)] 108th CONGRESS 2d Session H. R. 4983 To amend the Internal Revenue Code of 1986 to provide a credit to businesses whose employees teach at community colleges. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES July 22, 2004 Mr. Pascrell (for himself, Mr. Hinchey, Mr. English, Mr. Frost, Mr. Upton, Mr. Reyes, Ms. Harris, Mr. Jefferson, Ms. Ros-Lehtinen, Mr. Ruppersberger, Mr. Souder, Mr. Payne, Mr. Greenwood, Mr. Pallone, Mr. Weldon of Pennsylvania, Ms. Lee, Mr. McHugh, Mr. Owens, Ms. Hart, Mr. Fattah, Mr. Vitter, Mr. Allen, and Ms. Loretta Sanchez of California) introduced the following bill; which was referred to the Committee on Ways and Means _______________________________________________________________________ A BILL To amend the Internal Revenue Code of 1986 to provide a credit to businesses whose employees teach at community colleges. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. CREDIT FOR EMPLOYEES WHO TEACH AT A COMMUNITY COLLEGE. (a) In General.--Subpart D of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 (relating to business related credits) is amended by adding at the end the following: ``SEC. 45G. CREDIT FOR TEACHING AT A COMMUNITY COLLEGE. ``(a) General Rule.--For purposes of section 38, in the case of an employer, the community college teaching credit determined under this section for the taxable year is an amount equal to the product of $1,000 and the number of qualified employees for the taxable year. ``(b) Qualified Employee.--For purposes of subsection (a)-- ``(1) In general.--An employee is a qualified employee for the taxable year if-- ``(A) the employee teaches an entire qualified course of instruction which ends during the taxable year of the employer, ``(B) the employee receives no compensation from the community college for teaching such course, and ``(C) there is in effect with respect to such employee for the duration of such course a section 45G credit teacher designation. ``(2) Section 45g credit teacher designation.-- ``(A) In general.--For purposes of paragraph (1)(C), a section 45G credit teacher designation is a designation by the community college for the purposes of this section. ``(B) Limitation.--No designation under subparagraph (A) shall be effective if, for any portion of the period for which such designation is made, such designation, when added to all other designations by such community college which are in effect for any portion of such period, exceeds 20 designations under subparagraph (A). ``(C) Cooperation between employer and college.-- Employers and each community college should work in cooperation with each other to structure the volunteer program for purposes of this section. ``(3) Qualified course of instruction.--The term `qualified course of instruction' means a course of instruction at a community college which is required for completion of a program of instruction. ``(4) Community college.--The term `community college' means a public or nonprofit private postsecondary regionally accredited institution that provides not less than a 2-year program of instruction that is acceptable for full credit toward a bachelor's degree and whose highest degree offered is predominantly the associate degree.''. (b) Conforming Amendments.-- (1) Section 38(b) of such Code is amended by striking ``plus'' at the end of paragraph (14), by striking the period at the end of paragraph (15) and inserting ``, plus'', and by adding at the end the following: ``(16) the community college teaching credit determined under section 45G.''. (2) The table of sections for subpart D of part IV of subchapter A of chapter 1 of such Code is amended by adding at the end the following: ``Sec. 45G. Credit for teaching at a community college.''. (c) Effective Date.--The amendments made by this section shall apply to taxable years beginning after December 31, 2003. <all>