Skilled Labor Training Act

Summary

Skilled Labor Training Act - Amends the Internal Revenue Code to provide for a nonrefundable income tax credit for the payment of wages to employees participating in a skill training program approved by the Secretary of Labor. Limits the credit to 50 percent of the first $6,000 of first year wages and 25 percent of the first $6,000 of second year wages paid to such employees. Provides for a carryover and carryback of unused credit amounts. Sets forth requirements for the approval of a skilled training program, including the requirement that the Secretary of Labor certify that the occupation in which an employee is receiving training has experienced a substantial shortage of workers.

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1 official file

• Introduced in Senate

  summary · EN · 4 May 1982

  Open at official source

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