118th Congress Taxation
H.R. 7852: LEAP Act
Introduced
- Introduced (completed)
- Passed House (not reached)
- Passed Senate (not reached)
- To the President (not reached)
- Became law (not reached)
Summary
This bill allows employers a business-related tax credit of $1,500 for hiring an apprenticeship employee who has not attained age 25 at the close of the taxable year or $1,000 for hiring an apprenticeship employee who has attained age 25. The credit is available for no more than two taxable years with respect to any apprenticeship employee.
An apprenticeship employee is any employee who is (1) a party to an apprenticeship agreement registered with the Office of Apprenticeship of the Employment and Training Administration of the Department of Labor or a recognized state apprenticeship agency; and (2) employed by the employer in the occupation identified in the apprenticeship agreement, whether or not the employer is a party to such agreement.
Written by the Congressional Research Service, Library of Congress.
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Amendments
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History
- Introduced in the House by Frederica Wilson.
Show the full action history (2 actions)
- Introduced in House
- Referred to the House Committee on Ways and Means.