H.R. 4088 · 115th Congress
Career Advancement through New Skills Act
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Never voted on. It didn't reach a floor vote before the 115th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
ThompsonSponsor3 cosponsors · 1 D, 2 R
3 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill amends the Internal Revenue Code to allow a tax credit for employers that is equal to 25% of the qualified education and training expenses paid or incurred for employees. The expenses taken into account for the credit may not exceed $5,000 with respect to any employee for any taxable year.
What it does: CRS summary · Introduced in House · Oct 19, 2017
Career Advancement through New Skills Act
This bill amends the Internal Revenue Code to allow a tax credit for employers that is equal to 25% of the qualified education and training expenses paid or incurred for employees. The expenses taken into account for the credit may not exceed $5,000 with respect to any employee for any taxable year.
"Qualified education and training expenses" must be for a program specifically designed to maintain or improve skills of the employee which are necessary or useful either: (1) in the employee's current position with the employer, or (2) in another position with the employer to which the employer reasonably anticipates the employee may transfer.
The credit does not apply to expenses for education or training programs that are provided by the employer or by certain family members or business partners of the employer.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Career Advancement through New Skills Act
Latest action (Oct 19, 2017): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Oct 19, 2017
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.