The Skilled Workforce Act creates a new tax credit worth 30 percent of qualifying investments made by eligible employers and institutions to expand workforce training programs. The credit applies to construction, equipment, and infrastructure improvements at public secondary schools, community colleges, career and technical education schools, and workforce development programs that address skills gaps in industries like advanced manufacturing, semiconductors, renewable energy, construction, and transportation. The legislation establishes a $500 million total credit cap, with at least $100 million reserved for projects involving disadvantaged schools (low-income public schools, rural schools, and Bureau of Indian Education schools). Companies and institutions have until 180 days after enactment to apply, then three years to place their projects in service. The credit can alternatively be paid out directly by the government rather than only reducing tax liability, and it cannot be combined with other tax benefits for the same investment.
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