Apprenticeship and Jobs Training Act of 2015

Summary

Apprenticeship and Jobs Training Act of 2015 This bill amends the Internal Revenue Code to allow employers a business-related tax credit for up to $5,000 for the training of a qualified individual in a qualified apprenticeship program or a qualified multi-employer apprenticeship program. The bill defines a "qualified individual" as an individual who: (1) is an apprentice participating in a qualified apprenticeship program or a qualified multi-employer apprenticeship program, (2) has been employed in either program for a period of at least seven months that ends within the taxable year, and (3) is not a highly compensated employee or a seasonal worker. The bill defines "qualified apprenticeship program" as a program that: (1) provides qualified individuals with on-the-job training and instruction for a qualified occupation (i.e., a skilled trade occupation in a high-demand mechanical, technical, health care, or technology field); (2) is registered with the Office of Apprenticeship of the Department of Labor; and (3) maintains records relating to the qualified individual. A "qualified multi-employer apprenticeship program" is a program in which multiple employers are required to contribute and that is maintained pursuant to one or more collective bargaining agreements. The bill amends the Internal Revenue Code to allow a premature distribution, without penalty, from a tax-qualified retirement plan to an employee who is serving as a mentor. A "mentor" is defined as a working individual who: (1) has attained age 55; (2) works reduced hours and engages in mentoring activities for at least 20% of such hours; and (3) is responsible for the training and education of employees or students in an area of expertise for which such individual has a professional credential, certificate, or degree.

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Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 9 September 2015

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 9 September 2015

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• Introduced in Senate

  summary · EN · 9 September 2015

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