,,ii  #aai? ,,congress  #a/ ,session    
,s4 #bffd  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,augu/ #a1 #bjbe ,mr4  
,oss(f introduc$ ! foll[+ bill2 :i* 0   
read twice & ref]r$ to ! ,committee on  
,f9ance  ,a ,,bill  ,to am5d ! ,int]nal 
,rev5ue ,code ( #aihf to e/abli% !      
qualify+ work=ce tra9+ project cr$it4   
#a4 ,%ort title ,?is ,act may be cit$ z 
! ,skill$ ,work=ce ,act4  #b4           
,e/abli%m5t ( qualify+ work=ce tra9+    
project cr$it  7a7 ,9 g5]al ,subp>t ,e (
 "p ,,iv ( sub*apt] ,a ( *apt] #a ( !   
,int]nal ,rev5ue ,code ( #aihf is am5d$ 
by ins]t+ aft] section #dh;,e ! foll[+  
new section3  #dh;,f4 ,qualify+ work=ce 
tra9+ project cr$it  7a7 ,e/abli%m5t (  
cr$it  7#a7 ,9 g5]al ,= purposes (      
section #df1 ! qualify+ work=ce tra9+   
project cr$it = any taxable ye> is an   
am\nt equal to #cj p]c5t ( ! qualifi$   
inve/m5t = su* taxable ye> ) respect to 
any qualify+ work=ce tra9+ project ( an 
eligible taxpay]4  7#b7 ,eligible       
taxpay] ,= purposes ( ?is section1 ! t]m

 eligible taxpay] means any taxpay] :i* 
is n a =eign entity ( conc]n 7z def9$ 9 
section #iija7h7 ( ! ,william ,m4 7,mac7
 ,?ornb]ry ,national ,def5se            
,au?orization ,act = ,fiscal ,ye> #bjba 
7#ae ,u4,s4,c4 #dfea7h7774  7b7         
,qualifi$ inve/m5t  7#a7 ,9 g5]al ,=    
purposes ( subsection 7a71 ! qualifi$   
inve/m5t = any taxable ye> is ! basis ( 
eligible prop]ty plac$ 9 s]vice by !    
eligible taxpay] dur+ su* taxable ye>   
:i* is "p ( a qualify+ work=ce tra9+    
project4  7#b7 ,c]ta9 qualifi$ progress 
exp5diture rules made applicable ,rules 
simil> to ! rules ( subsections 7c77#d7 
& 7d7 ( section #df 7z 9 effect on ! day
 be=e ! enactm5t ( ! ,rev5ue            
,reconciliation ,act ( #aiij7 %all apply
 = purposes ( ?is section4  7#c7        
,limitation ,! am\nt :i* is treat$ z !  
qualifi$ inve/m5t = all taxable ye>s )  
respect to any qualify+ work=ce tra9+   
project %all n exce$ ! am\nt designat$  
by ! ,secret>y z eligible = ! cr$it "u  
?is section4  7c7 ,def9itions ,9 ?is    

section--  7#a7 ,qualify+ work=ce tra9+ 
project ,! t]m qualify+ work=ce tra9+   
project means a project1 any portion ( !
 qualifi$ inve/m5t ( :i* is c]tifi$ by !
 ,secret>y 79 consultation ) ! ,secret>y
 ( ,comm]ce7 "u subsection 7d7 z        
eligible = a cr$it "u ?is section1 :i*  
equips1 exp&s1 or enhances an eligible  
in/itution to address work=ce %ortages &
 skills gaps ) respect to 9-dem& jobs & 
indu/ries 7z id5tifi$ by ! ,secret>y71  
includ+-- 7,a7 advanc$1 high-te*1       
semiconductor1 & indu/rial manufactur+1 
7,b7 advanc$ en]gy 7su* z hydrog51      
nucle>1 & sol>71  7,c7 con/ruction1 &   
7,d7 transportation1 includ+ aviation1  
a]ospace1 airports1 & advanc$ air       
mobility4  7#b7 ,eligible prop]ty ,! t]m
 eligible prop]ty means any prop]ty--   
7,a7 :i* is necess>y = con/ruction1     
r5ovation1 or infra/ructure upgrades )  
respect to ! campus & facilities ( an   
eligible in/itution :i* w1 9 ! judgm5t (
 ! ,secret>y1 exp& high-quality1 9-dem&1
 skills-bas$ tra9+1 programm+1 & work=ce

 opportunities1  7,b7 :i* is--  7i7     
tangible p]sonal prop]ty1  7ii7 o!r     
tangible prop]ty 7includ+ a build+ & its
 /ructural compon5ts71 b only if su*    
prop]ty is us$ z an integral "p ( !     
eligible in/itution1 or  7iii7          
intangible prop]ty 7z def9$ 9 section   
#cfg7;d77#d771 includ+ digital or       
virtual le>n+ plat=ms & associat$       
equipm5t1 b only if su* prop]ty is us$ z
 an integral "p ( any prop]ty describ$ 9
 clause 7i7 & ! eligible in/itution1 &  
7,c7 ) respect to :i* depreciation 7or  
amortization 9 lieu ( depreciation7 is  
all[able4  7#c7 ,eligible in/itution    
7,a7 ,9 g5]al ,! t]m eligible in/itution
 means an entity t is 7& 01 z ( ! day   
be=e ! date ( enactm5t ( ?is ,act7-- 7i7
 a public second>y s*ool or a local     
educational ag5cy1  7ii7 an area c>e] & 
te*nical education s*ool 7z def9$ 9     
section #c ( ! ,c>l ,d4 ,p]k9s ,c>e] &  
,te*nical ,education ,act ( #bjjf 7#bj  
,u4,s4,c4 #bcjb77-- 7,i7 t is a public  
s*ool1 &  7,,ii7 at :i* ! mo/ frequ5tly 

aw>d$ degree is n a ba*elor's degree1   
7iii7 a po/second>y vocational          
in/itution 7z def9$ 9 section #ajb7;c7 (
 ! ,high] ,education ,act ( #aife 7#bj  
,u4,s4,c4 #ajjb7;c777--  7,i7 t is a    
public in/itution1 &  7,,ii7 at :i* !   
mo/ frequ5tly aw>d$ degree is n a       
ba*elor's degree1  7iv7 a community     
college1  7v7 a ,/ate-op]at$ work=ce    
developm5t program1 or  7vi7 a          
consortium ( entities describ$ 9 clauses
 7i7 ?r\gh 7v74  7,b7 ,community college
 ,! t]m community college means--  7i7 a
 public in/itution ( high] education 7z 
def9$ 9 section #aja7;a7 ( ! ,high]     
,education ,act ( #aife 7#bj ,u4,s4,c4  
#ajja7;a7771 at :i*-- 7,i7 ! highe/     
degree aw>d$ is an associate degree1 or 
7,,ii7 an associate degree is ! mo/     
frequ5tly aw>d$ degree1 or  7ii7 a      
,tribal ,college or ,univ]sity 7z def9$ 
9 section #caf7;b7 ( ! ,high] ,education
 ,act ( #aife 7#bj ,u4,s4,c4            
#ajei;c7b777--  7,i7 t is a #b-ye>      
,tribal ,college or ,univ]sity1  7,,ii7 

at :i* ! highe/ degree aw>d$ is an      
associate degree1 or  7,,iii7 at :i* an 
associate degree is ! mo/ frequ5tly     
aw>d$ degree4  7#d7 ,public second>y    
s*ool ,! t]m public second>y s*ool means
 a public second>y s*ool1 z def9$ 9     
section #haja ( ! ,elem5t>y & ,second>y 
,education ,act ( #aife 7#bj ,u4,s4,c4  
#ghja71 t includes any ( grades #i ?r\gh
 #ab4  7d7 ,qualify+ work=ce tra9+      
project program  7#a7 ,e/abli%m5t  7,a7 
,9 g5]al ,n lat] ?an #ahj days aft] !   
date ( enactm5t ( ?is section1 !        
,secret>y1 9 consultation ) ! ,secret>y 
( ,comm]ce1 %all e/abli% a qualify+     
work=ce tra9+ project program to consid]
 & aw>d c]tifications = qualifi$        
inve/m5ts eligible = cr$its "u ?is      
section to qualify+ work=ce tra9+       
project sponsors4  7,b7 ,limitation ,!  
total am\nt ( cr$its t may be allocat$  
"u ! program %all n exce$ #ejj1jjj1jjj1 
( :i* n great] ?an #djj1jjj1jjj may be  
allocat$ to qualifi$ inve/m5ts ) respect
 to any qualify+ work=ce tra9+ project  

:i* does n involve an eligible          
in/itution :i* is "o or m ( ! foll[+3   
7i7 ,a public second>y s*ool t is       
eligible to receive assi/ance "u "p ,a (
 title ,i ( ! ,elem5t>y & ,second>y     
,education ,act ( #aife 7#bj ,u4,s4,c4  
#fcaa et seq474  7ii7 ,a rural public   
second>y s*ool4  7iii7 ,a public        
second>y s*ool fund$ by ! ,bureau (     
,indian ,education4  7iv7 ,a local      
educational ag5cy t w support a qualify+
 work=ce tra9+ project involv+ a s*ool  
describ$ 9 clause 7i7 or 7ii74  7#b7    
,c]tification  7,a7 ,application p]iod  
,ea* applicant = c]tification "u ?is    
p>agraph %all submit an application     
conta9+ su* in=mation z ! ,secret>y may 
require dur+ ! #d-ye> p]iod beg9n+ on ! 
date ! ,secret>y e/abli%es ! program "u 
p>agraph 7#a74  7,b7 ,"t to meet crit]ia
 = c]tification ,ea* applicant =        
c]tification %all h #a ye> f ! date (   
acceptance by ! ,secret>y ( !           
application dur+ :i* to provide to !    
,secret>y evid5ce t ! requirem5ts ( !   

c]tification h be5 met4  7,c7 ,p]iod (  
issuance ,an applicant :i* receives a   
c]tification %all h #c ye>s f ! date (  
issuance ( ! c]tification 9 ord] to     
place ! project 9 s]vice & if su*       
project is n plac$ 9 s]vice by t "t     
p]iod1 !n ! c]tification %all no long]  
be valid4  7#c7 ,selection crit]ia ,9   
det]m9+ :i* qualify+ work=ce tra9+      
projects to c]tify "u ?is section1 !    
,secret>y %all take into consid]ation   
:i* projects--  7,a7 satisfy curr5t or  
expect$ ,/ate or regional work=ce       
developm5t requirem5ts1  7,b7 build     
9-dem& tra9+ program pipel9es :i*       
maximize ! skill level (1 & exp&        
opportunities = high-quality employm5t  
=1 ! ,/ate or regional work=ce1  7,c7   
demon/rate f9ancial su/a9ability ( !    
project 9 ! geographic region 9 :i* x is
 locat$1 &  7,d7 provide accommodations 
to individuals enroll$ at ! eligible    
in/itution to receive supportive s]vices
 or propose to directly provide su*     
s]vices to individuals enroll$ at !     

eligible in/itution4  7#d7 ,review &    
r$i/ribution2 disclosure ( allocations  
,rules simil> to rules "u p>agraphs 7#d7
 & 7#e7 ( section #dh;,c7d7 %all apply =
 purposes ( ?is section4  7e7 ,d5ial (  
d\ble b5efit ,9 ! case ( any qualifi$   
inve/m5t = :i* a cr$it is all[$ "u ?is  
section--  7#a7 no d$uction %all be     
all[$ "u section #agj ) respect to su*  
inve/m5t1 &  7#b7 no cr$it %all be all[$
 "u any o!r provision ( ?is *apt] )     
respect to su* inve/m5t4  4  7b7        
,elective paym5t & transf] ( cr$it  7#a7
 ,elective paym5t ,section #fdag7;b7 ( !
 ,int]nal ,rev5ue ,code ( #aihf is am5d$
 by add+ at ! end ! foll[+3  7#ac7 ,!   
qualify+ work=ce tra9+ project cr$it "u 
section #dh;,f4  4  7#b7 ,transf]       
,section #fdah7;f77#a77;,a7 ( ! ,int]nal
 ,rev5ue ,code ( #aihf1 z am5d$ by      
section #gjeba ( ,public ,law #aai-ba1  
is am5d$ by add+ at ! end ! foll[+3     
7xiii7 ,! qualify+ work=ce tra9+ project
 cr$it "u section #dh;,f4  4  7c7       
,con=m+ am5dm5ts  7#a7 ,section #df ( ! 

,int]nal ,rev5ue ,code ( #aihf is       
am5d$-- 7,a7 9 p>agraph 7#f71 by /rik+ &
 at ! end1  7,b7 9 p>agraph 7#g71 by    
/rik+ ! p]iod at ! end & ins]t+ 1 &1 &  
7,c7 by add+ at ! end ! foll[+3  7#h7 ! 
qualify+ work=ce tra9+ project cr$it4  4
  7#b7 ,section #di7;a77#a77;,c7 ( su*  
,code is am5d$--  7,a7 9 clause 7vii71  
by /rik+ & at ! end1  7,b7 9 clause     
7viii71 by /rik+ ! p]iod at ! end &     
ins]t+ 1 &1 &  7,c7 by add+ at ! end !  
foll[+3  7ix7 ! basis ( any eligible    
prop]ty :i* is "p ( a qualify+ work=ce  
tra9+ project cr$it "u section #dh;,f4  
4  7#c7 ,section #ej7;a77#b77;,e7 ( su* 
,code is am5d$ by /rik+ or #dh;,e7e7 &  
ins]t+ #dh;,e7e71 or #dh;,f7b77#b74     
7#d7 ,! table ( sections = subp>t ,e (  
"p ,,iv ( sub*apt] ,a ( *apt] #a ( su*  
,code is am5d$ by ins]t+ aft] ! item    
relat+ to section #dh;,e ! foll[+ new   
item3  ,sec4 #dh;,f4 ,qualify+ work=ce  
tra9+ project cr$it4  4  7d7            
,au?orization ( appropriations ,!re are 
au?oriz$ to be appropriat$1 out ( moneys

 9 ! ,treasury n o!rwise appropriat$1   
su* sums z may be necess>y = ! ,dep>tm5t
 ( ! ,treasury & ! ,dep>tm5t ( ,comm]ce 
to adm9i/] section #dh;,f ( ! ,int]nal  
,rev5ue ,code ( #aihf 7z add$ by ?is    
,act74  7e7 ,effective date ,! am5dm5ts 
made by ?is section %all apply to       
prop]ty plac$ 9 s]vice dur+ any taxable 
ye> beg9n+ aft] ! date ( enactm5t ( ?is 
,act4