A bill to establish a Federal tax credit approximation matching program for State new jobs training tax credits, and for other purposes.
New Skills for New Jobs Act
This bill directs the Department of the Treasury, on a quarterly basis, to make payments to an eligible community college in an amount equal to the aggregate new job tax withholding matches for qualified training provided to job trainees who are U.S. citizens. The bill defines "qualified training" as education or training to provide an individual with the education or skills necessary to perform the job for which such individual will be employed or with licenses or certificates necessary for such employment. Any job for which a trainee is hired must be a new job.
The bill defines "eligible community college" as a public institution of higher education: (1) at which the majority of degrees awarded are two-year degrees that are acceptable for full credit toward a baccalaureate degree, (2) that is located in a state that has a state new jobs tax credit program in effect, and (3) that participates in such program by having in effect a contract that meets specified requirements of such program.
Introduced in Senate
Read twice and referred to the Committee on Finance.
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