Connecticut House Bill HB06474

Connecticut 2023 Regular Session

• Introduced: 1/23/23
• Refer: 1/23/23

Caption

An Act Expanding The Manufacturing Apprenticeship Tax Credit Program To Other Training Programs.

Impact

By broadening the eligibility for the tax credit, HB 06474 is expected to incentivize businesses to invest in training opportunities beyond traditional apprenticeship programs. This could have a significant impact on the state’s economy by fostering a more skilled labor force that can adapt to innovations and changes in manufacturing. The potential for increased participation in training programs may lead to higher employment rates and better job opportunities for residents, thereby addressing the skills gap in various industries.

Summary

House Bill 06474 is an initiative to expand the existing manufacturing apprenticeship tax credit program to include a broader range of training programs that address the demand for a skilled workforce. The bill aims to enhance the state's efforts in workforce development by providing tax incentives to employers who participate in training programs that prepare workers for careers in manufacturing and related sectors. This expansion is seen as an essential move to meet the evolving needs of the labor market in Connecticut.

Contention

Discussions regarding HB 06474 may reveal points of contention among stakeholders. Proponents argue that the expansion of the tax credit will effectively respond to the urgent need for skilled workers in the manufacturing sector, thereby modernizing the workforce and stimulating economic growth. However, critics may raise concerns about the adequacy of funding for these training programs and whether the incentives provided to employers may lead to significant long-term benefits for the community. Additionally, there may be debates on the criteria for what constitutes eligible training programs under the expanded tax credit.