A bill to provide a tax credit for retraining expenses for individuals who are unemployed, and for other purposes.

Summary

Amends the Internal Revenue Code to allow an income tax credit for retraining expenses for individuals who are unemployed. Sets the amount of such credit at 50 percent of an individual's retraining expenses up to a limit of $1,000. Sets forth rules for the carryback and carryforward of such income tax credit. Defines "retraining expenses" as: (1) any tuition or fees for an eligible training program at a qualified institution; (2) expenses for books, supplies, or equipment; and (3) any other expenses directly related to participation in such a training program (other than food, lodging, or travel).

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Introduced in House

  summary · EN · 18 September 1985

  Open at official source

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.