Rep. Young Introduces Tax Credit Legislation for Vocational Training
Washington, D.C. - Alaska Congressman Don Young has introduced H.R. 4258, the Public-Private Vocational Partnership Act of 2009. The legislation will create a tax credit for businesses that either donate equipment to or host an internship for students enrolled in a program at a community college, secondary school, or vocational school.
"Vocational education is an extremely important component of secondary education for millions of students," said Rep. Young. "During such difficult economic times, certain sectors of industry are still having a hard time finding properly trained workers to fill open positions. Over five million students enroll in a vocational education program each year and yet vocational training often does not receive the funding or attention it needs. This bill will provide incentives to businesses and engages them in the learning process to ensure skilled workers and success in the workplace."
Stipulations included in H.R. 4258:
- The tax credit cannot exceed $50,000 for property donations and $100 per month for the duration of employment for an intern.
- Any property donated must fit productively into the recipient's education program.
- Qualified interns must be full-time students who are employed for 20 hours per week or less by the business as part of a vocational education course approved by the school or college.