General Assembly Raised Bill No. 1053
January Session, 2013 LCO No. 4067
*04067_______FIN*
Referred to Committee on FINANCE, REVENUE AND BONDING
Introduced by:
(FIN)
General Assembly
Raised Bill No. 1053
January Session, 2013
LCO No. 4067
*04067_______FIN*
Referred to Committee on FINANCE, REVENUE AND BONDING
Introduced by:
(FIN)
AN ACT CONCERNING EXPANDED ELIGIBILITY FOR APPRENTICESHIP TRAINING TAX CREDITS.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
Section 1. Section 12-217g of the general statutes is repealed and the following is substituted in lieu thereof (Effective July 1, 2013, and applicable to income or taxable years, as appropriate, commencing on or after January 1, 2013):
(a) There shall be allowed a credit for any taxpayer against the tax imposed under this chapter or chapter 229, other than the liability imposed by section 12-707, for any income or taxable year with respect to each apprenticeship in the manufacturing trades commenced by such taxpayer in such year under a qualified apprenticeship training program as described in this section, certified in accordance with regulations adopted by the Labor Commissioner and registered with the Connecticut State Apprenticeship Council established under section 31-22n, in an amount equal to four dollars per hour multiplied by the total number of hours worked during the income year by apprentices in the first half of a two-year term of apprenticeship and the first three-quarters of a four-year term of apprenticeship, provided the amount of credit allowed for any income or taxable year with respect to each such apprenticeship may not exceed four thousand eight hundred dollars or fifty per cent of actual wages paid in such [income] year to an apprentice in the first half of a two-year term of apprenticeship or in the first three-quarters of a four-year term of apprenticeship, whichever is less.
(b) There shall be allowed a credit for any taxpayer against the tax imposed under this chapter or chapter 229, other than the liability imposed by section 12-707, for any income or taxable year with respect to each apprenticeship in plastics and plastics-related trades commenced by such taxpayer in such year under a qualified apprenticeship training program as described in this section, certified in accordance with regulations adopted by the Labor Commissioner and registered with the Connecticut State Apprenticeship Council established under section 31-22n, which apprenticeship exceeds the average number of such apprenticeships begun by such taxpayer during the five income or taxable years immediately preceding the income or taxable year with respect to which such credit is allowed, in an amount equal to four dollars per hour multiplied by the total number of hours worked during the income year by apprentices in the first half of a two-year term of apprenticeship and the first three-quarters of a four-year term of apprenticeship, provided the amount of credit allowed for any [income] such year with respect to each such apprenticeship may not exceed four thousand eight hundred dollars or fifty per cent of actual wages paid in such [income] year to an apprentice in the first half of a two-year term of apprenticeship or in the first three-quarters of a four-year term of apprenticeship, whichever is less.
(c) There shall be allowed a credit for any taxpayer against the tax imposed under this chapter or chapter 229, other than the liability imposed by section 12-707, for any income or taxable year with respect to wages paid to apprentices in the construction trades by such taxpayer in such year that the apprentice and taxpayer participate in a qualified apprenticeship training program, as described in this section, which (1) is at least four years in duration, (2) is certified in accordance with regulations adopted by the Labor Commissioner, and (3) is registered with the Connecticut State Apprenticeship Council established under section 31-22n. The tax credit shall be (A) in an amount equal to two dollars per hour multiplied by the total number of hours completed by each apprentice toward completion of such program, and (B) awarded upon completion and notification of completion of such program in the income or taxable year in which such completion and notification occur, provided the amount of credit allowed for such [income] year with respect to each such apprentice may not exceed four thousand dollars or fifty per cent of actual wages paid over the first four income or taxable years for such apprenticeship, whichever is less.
(d) If the taxpayer is an S corporation or an entity treated as a partnership for federal income tax purposes, the shareholders or partners of such taxpayer may claim the credit. If the taxpayer is a single member limited liability company that is disregarded as an entity separate from its owner, the limited liability company's owner may claim the credit.
[(d)] (e) For purposes of this section, a qualified apprenticeship training program shall require at least four thousand but not more than eight thousand hours of apprenticeship training for certification of such apprenticeship by the Connecticut State Apprenticeship Council. The amount of credit allowed any taxpayer under this section for any income year may not exceed the amount of tax due from such taxpayer under this chapter with respect to such income year.
This act shall take effect as follows and shall amend the following sections:
Section 1 July 1, 2013, and applicable to income or taxable years, as appropriate, commencing on or after January 1, 2013 12-217g
This act shall take effect as follows and shall amend the following sections:
Section 1
July 1, 2013, and applicable to income or taxable years, as appropriate, commencing on or after January 1, 2013
12-217g
Statement of Purpose:
To expand eligibility for the apprenticeship training tax credit to business entities other than corporations, in order to provide additional incentives for job creation.
[Proposed deletions are enclosed in brackets. Proposed additions are indicated by underline, except that when the entire text of a bill or resolution or a section of a bill or resolution is new, it is not underlined.]