US Congress Senate Bill 2792 (Prior Session Legislation)

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Spectrum: Bipartisan Bill
Status: Introduced on September 11 2014 - 25% progression, died in committee
Action: 2014-09-11 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]

Apprenticeship and Jobs Training Act of 2014 - Amends the Internal Revenue Code to allow employers a business-related tax credit for up to $5,000 for the training of a qualified individual in a qualified apprenticeship program. Defines a "qualified individual" as an individual who: (1) is an apprentice participating in a qualified apprenticeship program, (2) has been employed in such a program for a period of at least seven months that ends within the taxable year, and (3) is not a highly compensated employee or a seasonal worker. Defines a "qualified apprenticeship program" as a program that: (1) provides qualified individuals with on-the-job training and instruction for a qualified occupation (i.e., a skilled trade occupation in a high-demand mechanical, technical, health care, or technology field); (2) is registered with the Office of Apprenticeship of the Department of Labor; and (3) maintains records relating to the qualified individual. Allows a premature distribution, without penalty, from a tax-qualified retirement plan to an employee who is serving as a mentor. Defines a "mentor" as a working individual who: (1) has attained age 55; (2) works reduced hours and engages in mentoring activities for at least 20% of such hours; and (3) is responsible for the training and education of employees or students in an area of expertise for which such individual has a professional credential, certificate, or degree.

Apprenticeship and Jobs Training Act of 2014

Sen. Maria Cantwell [D-WA]

Sen. Susan Collins [R-ME]

Date	Chamber	Action
2014-09-11	Senate	Read twice and referred to the Committee on Finance.

Type	Source
Summary	https://www.congress.gov/bill/113th-congress/senate-bill/2792/all-info
Text	https://www.congress.gov/113/bills/s2792/BILLS-113s2792is.pdf