Sec. 301. Job training tax credit

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Subpart D of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by adding at the end the following new section: For the purposes of section 38, the job training credit determined under this section for the taxable year is an amount equal to 100 percent of the qualified training expenses paid by the qualifying taxpayer during the taxable year. The credit allowed under subsection

(a)with respect to any eligible trainee of the qualifying taxpayer shall not exceed the excess (if any) of $4,000 over the aggregate credit allowed to such taxpayer under this section with respect to such eligible trainee for all prior taxable years. For purposes of this section— The term qualified training expenses means, with respect to any eligible trainee of the qualifying taxpayer, expenses paid or incurred by such taxpayer for qualified tuition costs of such eligible trainee. The term qualified tuition costs means costs for books and enrollment in a training program at a qualified educational organization, the outcome of which, if completed, will provide the eligible trainee a certificate or credential recognized by a State accrediting body, Federal Apprenticeship Agency, or any other national accrediting body recognized by the Department of Education as an independent, third-party accrediting body. Such training program— may include a single course, multiple courses, or a combination of work training and study, and must be reasonably necessary for employment in a position based in the United States for which the qualifying taxpayer is currently hiring. The term qualified educational organization means any educational organization described in section 101 of the Higher Education Act of 1965. The term qualifying taxpayer means any taxpayer who provides, with respect to any eligible trainee, such documentation as required by the Secretary regarding qualified training expenses and proof of unemployment status as described in paragraph (3)(A). The term eligible trainee means any individual who— has been unemployed for at least 90 days immediately preceding the date of enrollment in a training program described in paragraph (1)(B), and had not been employed by the qualifying taxpayer at any time prior to such enrollment date. No deduction shall be allowed under this chapter for the portion of the expenses otherwise allowable as a deduction that are taken into account in determining the credit under this section for the taxable year. For purposes of this section, all persons treated as a single employer under subsection

(a)or

(b)or section 52, or subsection

(m)or

(o)of section 414, shall be treated as one person. Qualified training expenses shall be treated as an educational assistance program for purposes of section 127. A taxpayer may elect (at such time and in such manner as the Secretary may by regulations prescribe) to have this section not apply for any taxable year. This section shall not apply to expenses paid after December 31, 2016. . Subsection

(b)of section 38 of the Internal Revenue Code of 1986 is amended by striking plus at the end of paragraph (35), by striking the period at the end of paragraph

(36)and inserting , plus , and by adding at the end the following new paragraph: the job training credit determined under section 45S(a). . Section 38(c)(4)(B) of the Internal Revenue Code of 1986, as amended by section 206, is amended by redesignating clauses (viii), (ix), and

(x)as clauses (ix), (x), and (xi), respectively, and by inserting after clause

(vii)the following new clause: the credit determined under section 45S, . Section 6501(m) of the Internal Revenue Code of 1986 is amended by inserting 45S(e), after 45H(g), . The table of sections for subpart D of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by adding at the end the following new item: Sec. 45S. Job training credit. . The amendments made by this section shall apply to expenses paid or incurred after the date of the enactment of this Act, in taxable years ending after such date. The amendments made by subsection

(c)shall apply to credits determined under section 45S of the Internal Revenue Code of 1986 in taxable years ending after the date of the enactment of this Act, and to carrybacks of such credits.