OLR Bill Analysis

sSB 1079

AN ACT INCREASING THE MANUFACTURING APPRENTICESHIP TAX CREDIT.

SUMMARY:

This bill (1) increases, from $4.00 to $6.00 per hour, the corporation business tax credit for hiring apprentices in the manufacturing trades and (2) raises the annual cap on the total amount of credit a business can claim for this purpose, from $4,800 or 50% of the actual apprentice wages, to $7,500 or 50% of such wages.

By law, unchanged by the bill, the period for claiming the credit depends on whether the apprenticeship is for two or four years. The period is the first year for two-year apprenticeship programs and three years for four-year programs. Such programs must be certified by the labor commissioner and registered with the Connecticut State Apprenticeship Council.

EFFECTIVE DATE: July 1, 2015 and applicable to income years beginning on or after January 1, 2015.

COMMITTEE ACTION

Commerce Committee

Joint Favorable Substitute Change of Reference

Yea

19

Nay

0

(03/26/2013)

Finance, Revenue and Bonding Committee

Joint Favorable Substitute

Yea

48

Nay

0

(04/19/2013)