,i #aah? ,,congress #a/ ,session ,h4 ,r4 #fhah ,,9 ,,! ,,h\se ,,( ,,repres5tatives ,decemb] #ad1 #bjbc,mrs4 ,h9son introduc$ ! foll[+ bill2 :i* 0 ref]r$ to ! ,committee on ,ways & ,means ,a ,,bill ,to am5d ! ,int]nal ,rev5ue ,code ( #aihf to provide employ]s a cr$it aga9/ employm5t & income taxes = c]ta9 employee tra9+ exp5ses4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,bett]+ ,employee ,skills & ,tal5ts ,act or ! ,,be/ ,act4 #b4 ,work=ce tra9+ cr$it 7a7 ,9 g5]al ,sub*apt] ,d ( *apt] #ba ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by add+ at ! end ! foll[+ new section3 #cace4 ,work=ce tra9+ cr$it 7a7 ,9 g5]al ,!re %all be all[$ z a cr$it aga9/ applicable employm5t taxes = ea* cal5d> qu>t] an am\nt equal to #cj p]c5t ( ! qualifi$ work=ce tra9+ exp5ses paid or incurr$ by ! employ] dur+ su* cal5d> qu>t]4 7b7 ,qualifi$ work=ce tra9+ exp5ses ,= purposes ( ?is section-- 7#a7 ,9 g5]al ,! t]m qualifi$ work=ce tra9+ exp5ses means am\nts paid or incurr$ by ! employ] to provide a qualifi$ employee ) qualifi$ tra9+4 7#b7 ,qualifi$ employee ,! t]m qualifi$ employee means any employee :o holds an entry-level position ) ! employ] & has n obta9$ a ba*elor's degree4 7#c7 ,qualifi$ tra9+ ,! t]m qualifi$ tra9+ means any program ( tra9+ :i* is design$ to prep>e an individual = a skill or employm5t classification t is recogniz$ by any ,/ate or local gov]nm5t1 regulatory body1 or pr(essional guild or organization4 ,su* t]m %all n include any program ( workplace safety tra9+ unless ! skill or employm5t classification relates to workplace safety4 7c7 ,applicable employm5t taxes ,= purposes ( ?is section1 ! t]m applicable employm5t taxes means ! taxes impos$ "u sections #caaa7;a71 #caaa7;b71 & #cbba7;a74 7d7 ,c>ryov] ( excess cr$it z employm5t or income tax cr$it 7#a7 ,cr$it limit$ to employm5t taxes ,! cr$it all[$ "u subsection 7a7 ) respect to any cal5d> qu>t] %all n exce$ ! applicable employm5t taxes 7r$uc$ by any cr$its all[$ "u subsection 7e7 or 7f7 ( section #caaa7 on ! wages paid ) respect to ! employm5t ( all ! employees ( ! employ] = su* cal5d> qu>t]4 7#b7 ,c>ryov] z employm5t or income tax cr$it ,if ! am\nt ( any cr$it "u subsection 7a7 exce$s ! limitation ( p>agraph 7#a7 = any cal5d> qu>t]1 su* excess-- 7,a7 except z provid$ 9 subp>agraph 7,b71 %all be c>ri$ to ! succe$+ cal5d> qu>t] & all[$ z a cr$it "u subsection 7a7 = su* qu>t]1 or 7,b7 if ! employ] elects ! application ( ?is subp>agraph 7at su* "t & 9 su* mann] z ! ,secret>y may provide71 %all tak5 into acc\nt z a curr5t ye> bus9ess cr$it "u section #ch7;b77#db7 = ! taxable ye> ( ! employ] 9 :i* or ) :i* su* cal5d> qu>t] ends4 7e7 ,recapture 7#a7 ,9 g5]al ,if cr$it is det]m9$ "u ?is section ) respect to any employee & su* employee fails to succe$ at tra9+1 ! applicable employm5t taxes ( ! employ] ) respect to :i* su* cr$it is det]m9$ %all be increas$ = ! cal5d> qu>t] :i* includes ! date ( su* failure by ! aggregate am\nt ( su* cr$its4 7#b7 ,det]m9ation ( failure ,an employee %all be treat$ z fail+ to succe$ at tra9+ if su* employee fails to complete ! tra9+ program or fails to obta9 ! skill1 employm5t classification1 or c]tification ) respect to :i* ! tra9+ program relates4 7f7 ,special rules 7#a7 ,aggregation rule ,= purposes ( subsection 7b71 all p]sons treat$ z a s+le employ] "u subsection 7a7 or 7b7 ( section #eb1 or subsection 7m7 or 7o7 ( section #dad1 %all be treat$ z "o employ]4 7#b7 ,d5ial ( d\ble b5efit ,no d$uction or cr$it 7o!r ?an ! cr$it det]m9$ "u ?is section7 %all be all[$ = t portion ( ! qualifi$ work=ce tra9+ exp5ses paid or incurr$ 9 a taxable ye> :i* is equal to ! cr$it det]m9$ "u ?is section ) respect to su* exp5ses4 7#c7 ,exclusion ( gov]nm5tal & non-pr(it employ]s ,no cr$it %all be all[$ "u ?is section to-- 7,a7 any ag5cy or in/rum5tality ( & ,f$]al1 ,/ate1 or local gov]nm5t1 or 7,b7 any organization exempt f ! tax impos$ "u *apt] #a4 7#d7 ,election to n claim cr$it ,no cr$it %all be det]m9$ "u subsection 7a7 ) respect to s mu* ( ! qualifi$ work=ce tra9+ exp5ses z ! employ] elects 7at su* "t & 9 su* mann] z ! ,secret>y may provide7 to n take into acc\nt = purposes ( ?is section4 7#e7 ,treatm5t ( deposits ,! ,secret>y %all waive any p5alty "u section #ffef = any failure to make a deposit ( any applicable employm5t taxes if ! ,secret>y det]m9es t su* failure 0 due to ! reasonable anticipation ( ! cr$it all[$ "u ?is section4 7#f7 ,ext5sion ( limitation on assessm5t ,not)/&+ section #feja1 ! limitation on ! "t p]iod = ! assessm5t ( any am\nt attributable to a cr$it claim$ "u ?is section %all n expire be=e ! date t is #e ye>s aft] ! lat] (-- 7,a7 ! date on :i* ! orig9al return :i* includes ! cal5d> qu>t] ) respect to :i* su* cr$it is det]m9$ is fil$1 or 7,b7 ! date on :i* su* return is treat$ z fil$ "u section #feja7;b77#b74 7g7 ,regulations & guidance ,! ,secret>y %all issue su* =ms1 in/ructions1 regulations1 & o!r guidance z are necess>y-- 7#a7 ) respect to ! application ( ! cr$it "u ?is section to ?ird p>ty payors 7includ+ pr(essional employ] organizations1 c]tifi$ pr(essional employ] organizations1 or ag5ts "u section #cejd71 includ+ regulations or guidance all[+ su* payors to submit docum5tation necess>y to sub/antiate su* cr$it1 7#b7 to provide = adequate report+ ( in=mation to ! ,secret>y = purposes ( ?is section1 & 7#c7 ) respect to ! recapture "u subsection 7f7 ( ! cr$it det]m9$ by ?is section1 includ+ ! e/abli%m5t ( p]iods aft] :i* a failure describ$ 9 subsection 7f77#b7 w be treat$ z occurr+ if ! requirem5ts describ$ 9 su* subsection are n satisfi$ z ( ! close ( su* p]iod4 ,any =ms1 in/ructions1 regulations1 or o!r guidance describ$ 9 p>agraph 7#a7 %all require ! cu/om] to be responsible = ! acc\nt+ ( ! cr$it & = any liability = improp]ly claim$ cr$its & %all require ! c]tifi$ pr(essional employ] organization or o!r ?ird p>ty payor to accurately report su* tax cr$its bas$ on ! in=mation provid$ by ! cu/om]4 4 7b7 ,con=m+ am5dm5ts 7#a7 ,section #ch7;b7 ( su* ,code is am5d$ by /rik+ plus at ! end ( p>agraph 7#dj71 by /rik+ ! p]iod at ! end ( p>agraph 7#da7 & ins]t+ 1 plus1 & by add+ at ! end ! foll[+ new p>agraph3 7#db7 9 ! case ( a taxpay] mak+ ! election "u #cace7;e77#b77;,b7 = any cal5d> qu>t] end+ dur+ or ) su* taxable ye>1 ! am\nt treat$ z a cr$it "u ?is p>agraph pursuant to su* election4 4 7#b7 ,section #ceaa7;d77#b7 ( su* ,code is am5d$ by /rik+ & at ! end ( subp>agraph 7,h71 by r$esignat+ subp>agraph 7,i7 z subp>agraph 7,j71 & by ins]t+ aft] subp>agraph 7,h7 ! foll[+ new subp>agraph3 7,i7 section #cace 7work=ce tra9+ cr$it71 & 4 7#c7 ,! table ( sections = sub*apt] ,d ( *apt] #ba ( su* ,code is am5d$ by add+ at ! end ! foll[+ new item3 ,sec4 #cace4 ,work=ce tra9+ cr$it4 4 7c7 ,effective date ,! am5dm5ts made by ?is section %all apply to cal5d> qu>t]s beg9n+ aft] ! date ( ! enactm5t ( ?is ,act4