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Text of the Workforce-Ready Educate America Act of 2012

This bill was introduced on March 22, 2012, in a previous session of Congress, but was not enacted. The text of the bill below is as of Mar 22, 2012 (Introduced).

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Source: GPO

I

112th CONGRESS

2d Session

H. R. 4249

IN THE HOUSE OF REPRESENTATIVES

March 22, 2012

(for herself, Mr. Kissell, Mr. Peters, Mr. Carson of Indiana, Mr. Nadler, and Mr. Carnahan) introduced the following bill; which was referred to the Committee on Ways and Means

A BILL

To amend the Internal Revenue Code of 1986 to allow employers a credit against income tax as an incentive to partner with educational institutions to provide skills training for students.

1.

Short title

This Act may be cited as the Workforce-Ready Educate America Act of 2012.

2.

Credit for employers which partner with educational institutions to provide skills training for students

(a)

In general

Subpart D of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 (relating to business-related credits) is amended by adding at the end the following new section:

45S.

Employers partnering with educational institutions to provide skills training for students

(a)

General rule

For purposes of section 38, the employer partnering credit determined under this section for any taxable year is an amount equal to $1,000 for each student participating in a qualified partnering program with the employer.

(b)

Maximum credit

(1)

In general

The maximum credit determined under this section for the taxable year shall not exceed $3,000.

(2)

Controlled groups

For purposes of paragraph (1), all persons treated as a single employer under subsection (b), (c), (m), or (o) of section 414 shall be treated as a single employer.

(c)

Qualified partnering program

For purposes of this section, the term qualified partnering program means—

(1)

any Community College and Career Training Grant awarded under section 278 of the Trade Act of 1974 (19 U.S.C. 2372),

(2)

any grant awarded under section 414(c) of the American Competitiveness and Workforce Improvement Act of 1998 (29 U.S.C. 2916a),

(3)

any program under section 834 of the Higher Education Act of 1965 (20 U.S.C. 1161n–3) with alternating or parallel periods of academic study and of public or private employment, and

(4)

any other program which is approved by the Secretary of Education or the Secretary of Labor for purposes of this section.

(d)

Certain rules To apply

For purposes of this section, rules similar to the rules of subsections (c), (d), and (e) of section 52 shall apply.

.

(b)

Credit To be part of general business credit

Section 38(b) of the Internal Revenue Code of 1986 is amended by striking plus at the end of paragraph (35), by striking the period at the end of paragraph (36) and inserting , plus, and by adding at the end the following new paragraph:

(37)

the employer partnering credit determined under section 45S.

.

(c)

Clerical amendment

The table of sections for subpart D of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by adding at the end the following new item:

Sec. 45S. Employers partnering with educational institutions to provide skills training for students..

(d)

Effective date

The amendments made by this section shall apply to taxable years beginning after the date of the enactment of this Act.