H.R.2431 - On-the-Job Training Tax Credit Act of 2015114th Congress (2015-2016)
|Sponsor:||Rep. Aguilar, Pete [D-CA-31] (Introduced 05/19/2015)|
|Committees:||House - Ways and Means|
|Latest Action:||05/21/2015 Sponsor introductory remarks on measure. (CR H3544) (All Actions)|
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Summary: H.R.2431 — 114th Congress (2015-2016)All Information (Except Text)
Introduced in House (05/19/2015)
On-the-Job Training Tax Credit Act of 2015
Amends the Internal Revenue Code to allow employers who employ not more than 500 full-time employees during the taxable year an on-the-job training tax credit equal to the lesser of: 50% of the job training program expenditures for a full-time employee participating in a qualified training program, or $5,000.
Defines "qualified training program" as a written plan of study and training that is either: (1) an apprenticeship program registered and certified with the Department of Labor under the National Apprenticeship Act; (2) a program licensed, registered, or certified by the workforce investment board or apprenticeship agency or council of a state or administered in compliance with state apprenticeship laws; (3) a program conducted by a vocational or technical education school, community college, industrial or trade training organization, or labor organization; (4) a program which conforms to apprentice training programs developed or administered by an employer trade group or committee; or (5) an industry-sponsored or -administered program which is clearly identified and commonly recognized.
Terminates such credit after 2017.