Income taxes: Worker Training Program Tax Credit.

The Personal Income Tax Law and the Corporation Tax Law allow various credits against the taxes imposed by those laws. This bill would allow a credit against those taxes for each taxable year beginning on or after January 1, 2020, and before January 1, 2025, to a qualified employer in an amount equal to 30% of the expenditures paid or direct costs incurred for the implementation of an eligible worker training program, as defined, by the qualified employer during the taxable year, not to exceed a specified amount. The bill would also require the Franchise Tax Board to provide a report to the Legislature regarding the credits, as provided. This bill would take effect immediately as a tax levy.