Labor Tax Credit Act

Labor Tax Credit Act - Makes it the purpose of this Act to provide an incentive for business investment in national human resources through training and employment of those who are otherwise eligible for assistance but who lack needed job skills.

Authorizes a tax credit under the Internal Revenue Code for the expenses incurred in employee training programs. Sets a dollar and percentage limitation upon such credit.

Defines eligible employees for purposes of the credit allowed under this Act.

Defines those organized job training programs which meet the requirements of this Act.