116TH CONGRESS 1ST SESSION H. R. 4286 To amend the Internal Revenue Code of 1986 to provide a credit to businesses for certain virtual training expenses related to elementary and secondary school students, and for other purposes. IN THE HOUSE OF REPRESENTATIVES SEPTEMBER 11, 2019 Mr. BUDD introduced the following bill; which was referred to the Committee on Ways and Means I VerDate Sep 11 2014 01:54 Sep 12, 2019 Jkt 089200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\H4286.IH H4286 To 1 2 3 4 5 6 7 8 A BILL amend the Internal Revenue Code of 1986 to provide a credit to businesses for certain virtual training ex- penses related to elementary and secondary school stu- dents, and for other purposes. Be it enacted by the Senate and House of Representa- tives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ‘‘Virtual Apprenticeship Tax Credit Act of 2019’’. SEC. 2. CREDIT FOR VIRTUAL TRAINING EXPENSES. (a) IN GENERAL.—Subpart D of part IV of sub- chapter A of chapter 1 of the Internal Revenue Code of pamtmann on DSKBC07HB2PROD with BILLS VerDate Sep 11 2014 2 1 1986 is amended by adding at the end the following new 2 section: 3 ‘‘SEC. 45T. VIRTUAL TRAINING CREDIT. 4 ‘‘(a) ALLOWANCE OF CREDIT.—For purposes of sec- 5 tion 38, the virtual training credit determined under this 6 section for the taxable year is an amount equal to 30 per- 7 cent of the qualified virtual training expenses paid or in- 8 curred by the taxpayer during such taxable year. 9 ‘‘(b) LIMITATION.—The amount of the credit deter- 10 mined under subsection (a) with respect to any taxpayer 11 for any taxable year shall not exceed $2,500. 12 ‘‘(c) QUALIFIED VIRTUAL TRAINING EXPENSES.— 13 For purposes of this section, the term ‘qualified virtual 14 training expenses’ means expenses related to developing 15 or expanding an industry-recognized virtual apprentice- 16 ship program for elementary and secondary school stu- 17 dents. 18 ‘‘(d) DENIAL OF DOUBLE BENEFIT.—No deduction 19 or credit shall be allowed under any other provision of this 20 chapter with respect to the amount of the credit deter- 21 mined under this section.’’. 22 (b) CREDIT MADE PART OF GENERAL BUSINESS 23 CREDIT.—Subsection (b) of section 38 of the Internal 24 Revenue Code of 1986 is amended by striking ‘‘plus’’ at 25 the end of paragraph (31), by striking the period at the •HR 4286 IH 22:52 Sep 12, 2019 Jkt 089200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6201 E:\BILLS\H4286.IH H4286 pamtmann on DSKBC07HB2PROD with BILLS VerDate Sep 11 2014 •HR 4286 IH 01:54 Sep 12, 2019 Jkt 089200 PO 00000 Frm 00003 Fmt 6652 Sfmt 6301 E:\BILLS\H4286.IH H4286 1 2 3 4 5 6 7 8 9 10 11 3 end of paragraph (32) and inserting ‘‘, plus’’, and by add- ing at the end the following new paragraph: ‘‘(33) the virtual training credit determined under section 45T.’’. (c) CLERICAL AMENDMENT.—The table of sections for subpart D of part IV of subchapter A of chapter 1 of such Code is amended by adding at the end the fol- lowing new item: ‘‘Sec. 45T. Virtual training credit.’’. (d) EFFECTIVE DATE.—The amendments made by this section shall apply to taxable years beginning after the date of the enactment of this Act. Æ pamtmann on DSKBC07HB2PROD with BILLS
| Types | Organization |
| Start date | September 2019 |