H.R.1739 - USA Workforce Tax Credit Act116th Congress (2019-2020) |
|Sponsor:||Rep. Smucker, Lloyd [R-PA-11] (Introduced 03/13/2019)|
|Committees:||House - Ways and Means|
|Latest Action:||House - 03/13/2019 Referred to the House Committee on Ways and Means. (All Actions)|
This bill has the status Introduced
Here are the steps for Status of Legislation:
- Passed House
- Passed Senate
- To President
- Became Law
Summary: H.R.1739 — 116th Congress (2019-2020)All Information (Except Text)
Introduced in House (03/13/2019)
USA Workforce Tax Credit Act
This bill allows tax credits for charitable contributions to certain nonprofit organizations with the exclusive purpose of providing (1) workforce development and apprenticeship training, or (2) scholarships for elementary and secondary education expenses of students from households with income that does not exceed 200% of the median gross income.
The bill limits the credits to specified amounts for individuals and corporations. It also (1) imposes a tax on workforce development, apprenticeship training, and scholarship granting organizations that fail to distribute a specified portion of their receipts; and (2) establishes a $2 billion annual volume cap for the tax credits allowed under this bill.