Plain English Breakdown
The official text states the tax credit applies to 'qualified taxpayers, as defined,' but does not provide that definition within this excerpt.
Tax Credits for Quick-Service Restaurant Youth Apprenticeships
AB 244 creates a new apprenticeship program if the Legislature provides funding and offers tax credits to qualified businesses that hire young workers in quick-service restaurants.
What This Bill Does
- Requires the Division of Apprenticeship Standards to create a Quick Service Restaurant Young Workforce Apprenticeship Program only if the Legislature approves funding.
- Allows qualified taxpayers to claim a $1,000 tax credit for each registered apprentice they employ for at least six months.
- Limits the total number of apprentices counted toward credits to 100 per taxpayer in one taxable year.
- Applies these tax credits only to years starting between January 1, 2026, and December 31, 2030.
- Requires the Franchise Tax Board to share specific data with the Division of Apprenticeship Standards for reporting purposes.
Who It Names or Affects
- Qualified taxpayers who hire registered apprentices in quick-service restaurants
- The Division of Apprenticeship Standards within the Department of Industrial Relations
- The Franchise Tax Board
Terms To Know
- Tax credit
- An amount that reduces the total tax a person or business must pay.
- Registered apprentice
- A worker enrolled in an official training program approved by the state.
- Appropriation
- Money officially set aside and given to a government agency for use.
Limits and Unknowns
- The new apprenticeship program only starts if the Legislature approves funding.
- The bill does not define exactly which businesses qualify as 'qualified taxpayers' in this text excerpt.
- No state reimbursement is provided to local agencies for costs related to this act.