Section 42-64.6-1. – Short title.

§ 42-64.6-1. Short title. This chapter shall be known and may be cited as the “Jobs Training Tax Credit Act.” History of Section.P.L. 1996, ch. 229, § 1; P.L. 1996, ch. 255, § 1.

Section 42-64.6-2. – Jobs training tax credit.

§ 42-64.6-2. Jobs training tax credit. A qualifying employer shall be allowed a credit against the tax imposed by chapters 11, 13, (except for § 44-13-13), 14, 17 and 30 of title 44 in the manner set forth in this chapter for the qualifying expenses of offering training and/or retraining to qualifying employees. History of […]

Section 42-64.6-3. – Definitions.

§ 42-64.6-3. Definitions. As used in this chapter unless the context clearly requires otherwise: (1) “Election” means the election to be filed by a qualifying employer with the human resource investment council. (2) “Qualifying employee” means an individual (other than an employee who would be treated as a “highly compensated employee” under 26 U.S.C § […]

Section 42-64.6-4. – Determination of credit.

§ 42-64.6-4. Determination of credit. The credit provided in this chapter is equal to twenty-five percent (25%) of the qualifying expenses incurred in 1996 and fifty percent (50%) of the qualifying expenses incurred after 1996 to provide training and/or retraining for a qualifying employee, of which fifty percent (50%) of the credit shall be allowed […]

Section 42-64.6-5. – Deduction.

§ 42-64.6-5. Deduction. A qualifying employer shall be denied a deduction for any expenses used to determine a credit, which was allowed under this chapter. If the credit is subsequently recaptured, or if the expenses attributable to the program exceed the amount on which the credit is allowed, a deduction shall be allowed in the […]

Section 42-64.6-6. – Wage.

§ 42-64.6-6. Wage. To the extent the wages and other benefits paid or provided to a qualifying employee while that employee is enrolled in a program covered by this chapter, are attributable to the time the employee spent participating in the program, the qualifying expenses of the employer attributable to the employee shall include the […]

Section 42-64.6-7. – Limitation.

§ 42-64.6-7. Limitation. The credit allowed pursuant to this chapter shall not reduce the liability of the employer for the tax imposed by chapters 11, 13, 14, 17 and 30 of title 44 in any year below the minimum tax where a minimum tax is provided under this title. History of Section.P.L. 1996, ch. 229, […]

Section 42-64.6-8. – Annual reporting requirements.

§ 42-64.6-8. Annual reporting requirements. The human resource investment council shall annually prepare a report utilizing the information received in this act and other appropriate sources describing and evaluating the impact, if any, of this act on the state’s economic resources and the number and type of qualifying employees being trained or retrained as a […]

Section 42-64.6-9. – Sunset.

§ 42-64.6-9. Sunset. No credits authorized under this chapter shall be awarded for tax years beginning on or after January 1, 2018. History of Section.P.L. 2018, ch. 47, art. 11, § 3.