Texas House Bill HB722

Texas 2015 - 84th Regular

Caption

Relating to a franchise tax credit for entities offering internships to certain high school students.

Impact

The implementation of HB 722 would amend existing tax code regulations by adding a new section dedicated to internship tax credits. This modification could lead to increased partnerships between local businesses and educational institutions, fostering a more skilled future workforce that benefits the state’s economy. The financial incentive for businesses to create internship opportunities might encourage more companies to participate, ultimately enhancing the educational outcomes for high school students in Texas.

Summary

House Bill 722 introduces a franchise tax credit aimed at encouraging businesses to offer internships to high school students enrolled in career and technology education programs. The bill outlines that a taxable entity qualifies for the credit if they provide an internship lasting at least six weeks to eligible students, promoting career readiness and workforce development among youth. By incentivizing businesses to engage with the educational system, the bill seeks to offer students hands-on experience in various fields while simultaneously benefiting companies through tax relief.

Contention

While there is broad support for the idea of enhancing internships in high school education, potential points of contention may arise around the actual logistics of the tax credit. Critics of such tax credits may argue that they could disproportionately favor larger corporations that have more resources available to offer internships, potentially limiting opportunities for smaller businesses and non-profits. Additionally, there may be concerns about the effectiveness of the internships, ensuring that they provide meaningful and applicable experience for students rather than merely serving as cheap labor.