New Tax Credit Legislation Introduced in the Senate

The bill provides a tax credit of up to $10,000 per year for the first two years of a four-year apprenticeship program. A maximum of three apprentices are permitted from each company. In order to qualify for the program, the apprentice must be enrolled in a program that has been approved by the Department of Labor or a State Apprenticeship Council. The credit applies only to those highly skilled trades in the construction industry, such as masonry.

MCAA expects a similar bill to be introduced in the House shortly.