| Notes |
Shown Here:
Introduced in House (09/11/2019)
[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4286 Introduced in House (IH)]
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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
_______________________________________________________________________
A BILL
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.
Be it enacted by the Senate and House of Representatives 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 subchapter A of chapter 1
of the Internal Revenue Code of 1986 is amended by adding at the end
the following new section:
``SEC. 45T. VIRTUAL TRAINING CREDIT.
``(a) Allowance of Credit.--For purposes of section 38, the virtual
training credit determined under this section for the taxable year is
an amount equal to 30 percent of the qualified virtual training
expenses paid or incurred by the taxpayer during such taxable year.
``(b) Limitation.--The amount of the credit determined under
subsection (a) with respect to any taxpayer for any taxable year shall
not exceed $2,500.
``(c) Qualified Virtual Training Expenses.--For purposes of this
section, the term `qualified virtual training expenses' means expenses
related to developing or expanding an industry-recognized virtual
apprenticeship program for elementary and secondary school students.
``(d) Denial of Double Benefit.--No deduction or credit shall be
allowed under any other provision of this chapter with respect to the
amount of the credit determined under this section.''.
(b) Credit Made Part of General Business Credit.--Subsection (b) of
section 38 of the Internal Revenue Code of 1986 is amended by striking
``plus'' at the end of paragraph (31), by striking the period at the
end of paragraph (32) and inserting ``, plus'', and by adding 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 following 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.
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