To amend the Internal Revenue Code of 1986 to establish the qualifying workforce training project credit.
Sponsors
Legislative Progress
IntroducedMr. Ossoff introduced the following bill; which was read twice …
Summary
What This Bill Does
The Skilled Workforce Act creates a new tax credit program to expand workforce training at public educational institutions. It offers a 30% tax credit for investments that build, renovate, or equip facilities at community colleges, vocational schools, career and technical education centers, and public high schools. The goal is to address worker shortages in high-demand industries like manufacturing, energy, construction, and transportation.
Who Benefits and How
Public educational institutions benefit directly through increased investment in their facilities and training programs. Community colleges, vocational schools, career-technical schools, and public high schools become more attractive for private investment. Workers and job seekers benefit from expanded access to skills training in high-paying industries like semiconductor manufacturing, nuclear energy, aviation, and construction. Employers in high-demand industries benefit from a larger pipeline of trained workers to fill jobs in advanced manufacturing, clean energy, and transportation sectors.
Who Bears the Burden and How
Federal taxpayers bear the cost through reduced tax revenue, as the program allocates up to $500 million in tax credits. Private educational institutions may face increased competition, as the credits only apply to public institutions. Projects not involving underserved schools face a cap of $400 million, while at least $100 million is reserved for projects involving Title I schools, rural schools, or Bureau of Indian Education-funded schools.
Key Provisions
- Creates a 30% investment tax credit (Section 48F) for qualifying workforce training projects
- Allocates $500 million total in tax credits, with $400 million maximum for non-underserved projects and at least $100 million reserved for Title I, rural, and tribal schools
- Eligible institutions include community colleges, public vocational schools, career-technical education centers, state workforce programs, and public high schools
- Targets in-demand industries including advanced manufacturing, semiconductors, nuclear and solar energy, construction, aviation, and aerospace
- Applicants have 4 years to apply, 1 year to meet certification requirements, and 3 years to complete projects
- Excludes foreign entities of concern from eligibility
Evidence Chain:
This summary is derived from the structured analysis below. See "Detailed Analysis" for per-title beneficiaries/burden bearers with clause-level evidence links.
Primary Purpose
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