HF 12: Creating the Iowa job training tax credit program and including applicability provisions

What it does

This bill creates a job training tax credit program (program) administered by the economic development authority (EDA) in consultation with the department of revenue (DOR) to provide tax credits to businesses that employ for pay qualified trainees in Iowa during the tax year. To qualify as a “qualified trainee” under the program, a person must be an apprentice or an intern, must be employed by a business in Iowa, and must satisfy the relevant minimum training standard. office of apprenticeship. “Intern” is defined in the bill to mean an Iowa college student, or a student who graduated from high school in Iowa but who now attends college outside of Iowa, who is engaged in temporary employment that focuses on providing the student with work experience in the student’s field of study.

In plain words

1. January 12, 2021Filed in the House and sent to the Economic Growth committee