HR 5153 115th Congress House Taxation Charitable contributions Education programs funding Elementary and secondary education Employment and training programs Higher education Income tax credits Sales and excise taxes Social work, volunteer service, charitable organizations Vocational and technical education

USA Workforce Tax Credit Act

Introduced: March 1, 2018 Introduced by: Smucker, Lloyd Republican · Pennsylvania See on congress.gov

Everywhere this bill has been 2 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Mar 1, 2018

Referred to the House Committee on Ways and Means.

Mar 1, 2018

Introduced in House

Plain-English summary Congressional Research Service

USA Workforce Tax Credit Act

This bill amends the Internal Revenue Code to allow tax credits for charitable contributions to certain nonprofit organizations with the exclusive purpose of providing: (1) workforce development and apprenticeship training, or (2) scholarships for elementary and secondary education expenses of students from households with income that does not exceed 200% of the median gross income.

The bill limits the credits to specified amounts for individuals and corporations. It also: (1) imposes a tax on workforce development, apprenticeship training, and scholarship granting organizations that fail to distribute a specified portion of their receipts; and (2) establishes a $2 billion annual volume cap for the tax credits allowed under this bill.

What's happening now March 1, 2018

Referred to the House Committee on Ways and Means.

Committees of jurisdiction 1