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H.R.5153 - USA Workforce Tax Credit Act115th Congress (2017-2018) |

Bill

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Sponsor: Rep. Smucker, Lloyd [R-PA-16] (Introduced 03/01/2018)
Committees: House - Ways and Means
Latest Action: House - 03/01/2018 Referred to the House Committee on Ways and Means.  (All Actions)

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This bill has the status Introduced

Here are the steps for Status of Legislation:

  1. Introduced
  2. Passed House
  3. Passed Senate
  4. To President
  5. Became Law

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  • Constitutional Authority Statement
  • CBO Cost Estimates [0]

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Summary: H.R.5153 — 115th Congress (2017-2018)All Information (Except Text)

There is one summary for H.R.5153. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (03/01/2018)

USA Workforce Tax Credit Act

This bill amends the Internal Revenue Code to allow tax credits for charitable contributions to certain nonprofit organizations with the exclusive purpose of providing: (1) workforce development and apprenticeship training, or (2) scholarships for elementary and secondary education expenses of students from households with income that does not exceed 200% of the median gross income.

The bill limits the credits to specified amounts for individuals and corporations. It also: (1) imposes a tax on workforce development, apprenticeship training, and scholarship granting organizations that fail to distribute a specified portion of their receipts; and (2) establishes a $2 billion annual volume cap for the tax credits allowed under this bill.