ARIZONA STATE SENATE
Phoenix, Arizona
technology training; tax
credit
This
measure amends current law by allowing employers to claim a tax credit for
expenses up to $1500 per employee for technology training. To claim the credit employees must enroll in
a technology skills training program approved by the Department of Commerce. Approved programs must provide information
technology training.
According to DOR, the fiscal impact is unknown at this time.
1.
Provides
an individual and corporate tax credit of $1500 per employee for the employer
for qualifying technology skills training programs.
2.
Credits
may be carried forward up to five consecutive taxable years or transferred to
another taxpayer in accordance with DOR procedure.
3.
Requires
the Department of Commerce to certify the total amount of the credit, up to $5
million in the aggregate.
4.
Requires
the Department of Commerce to establish an employer assistance program to
encourage employers to continue technology skills training. This program ends on January 1, 2006.
5.
Qualifying
technology skills training programs must be accredited by a college,
university, private career school or other post secondary educational
institution.
6.
Requires
the Department of Commerce to identify and report qualifying technology skills
training programs to the Department of Revenue.
7.
Applies
to taxable years beginning from and after December 31, 2000 and ending before
January 1, 2006.
Prepared by Senate Staff
February 2, 2000