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S2664119th CongressWALLET

Skilled Workforce Act

Sponsored By: Senator Ossoff, Jon [D-GA]

Introduced

Summary

A new 30% tax credit for workforce training projects. The Skilled Workforce Act would create the Qualifying Workforce Training Project Credit to help fund construction, renovation, equipment, and digital platforms at public high schools, community colleges, and state workforce programs to expand training for in-demand industries like semiconductors, advanced energy, construction, and transportation.

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  • Students and workers: Would expand local training capacity and equipment for in-demand jobs and encourage programs to offer supportive services and clear career pathways.
  • Eligible institutions: Public secondary schools, community colleges, area career and technical schools, state workforce programs, and consortia could receive credits to pay for buildings, equipment, and virtual learning tools, with depreciation or amortization allowed.
  • Taxpayers and projects: Eligible taxpayers not designated as foreign entities of concern could claim a credit equal to 30% of qualified investment. A certification program would allocate credits with a $500 million overall cap and up to $400 million reserved for public, rural, and Bureau of Indian Education secondary schools.

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Bill Overview

Analyzed Economic Effects

3 provisions identified: 3 benefits, 0 costs, 0 mixed.

Program to certify workforce training

If enacted, Treasury would set up a program within 180 days to certify projects that can get the credit. Applications would be accepted for four years. Accepted applicants would have one year to meet certification rules. Certified projects must be placed in service within three years or the certification expires. Eligible institutions include public high schools, community colleges, certain vocational schools, State workforce programs, and consortia.

New workforce training tax credit

If enacted, the bill would create a new tax credit equal to 30% of qualifying investment. The credit would apply to eligible property placed in service after enactment. The program would limit total credits under a $500 million allocation. Taxpayers that are foreign entities of concern would be ineligible. You could not claim a charity deduction or another tax credit for the same investment.

Transfer or elect payment for credit

If enacted, the bill would let eligible taxpayers elect a Treasury payment instead of using the credit on their tax return. It would also let taxpayers transfer the credit to another party under existing transfer rules. The bill makes technical tax-code edits so the new credit works with existing credit and depreciation rules.

Sponsors & CoSponsors

Sponsor

Ossoff, Jon [D-GA]

GA • D

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

No roll call votes available for this bill.

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