Plain English Breakdown
The effective date is missing from the provided official text, so no start date can be confirmed.
Increasing Tax Credits for Construction Apprentices
This bill raises the maximum tax credit companies can claim for paying construction apprentices from $4,000 to $7,500 per person.
What This Bill Does
- Increases the maximum corporation business tax credit amount.
- Changes the limit from four thousand dollars to seven thousand five hundred dollars.
- Applies this change specifically to wages paid to apprentices in construction trades.
Who It Names or Affects
- Corporations that pay business taxes
- Apprentices working in the construction trades
Limits and Unknowns
- The official text does not state when this change will take effect.