A bill to amend the Internal Revenue Code of 1986 to establish a tax credit for training services received by individuals who are unemployed as a result of the coronavirus pandemic.
About This Bill
Committee
Latest Action · May 20, 2020
Read twice and referred to the Committee on Finance.
Skills Renewal Act
This bill allows eligible individuals a refundable tax credit, up to $4,000 in a taxable year, for expenses paid for qualified training services. The bill defines
qualified training service as a course or program of study that is listed in provisions of the Workforce Innovation and Opportunity Act or that relates to computer science, technology, or another high-need area, such as a coding boot camp, that have been precertified by the Department of Labor; and eligible individual as an individual who became unemployed or furloughed in 2020 but was otherwise able to work and was available for work and has applied for or is receiving pandemic emergency unemployment compensation related to COVID-19 (i.e., coronavirus disease 2019).
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