Investing in Tomorrow's Workforce Act of 2019

To amend the Internal Revenue Code of 1986 to provide employers with a credit against tax for increasing employee training. 1. Short title This Act may be cited as the Investing in Tomorrow’s Workforce Act of 2019 2. Tax credit for increasing worker training (a) In general Subpart D of part IV of subchapter A of chapter 1 45T. Credit for increasing worker training (a) In general For purposes of section 38, the worker training credit determined under this section for a taxable year is an amount equal to the sum of— (1) 40 percent of the excess (if any) of— (A) the high-demand occupation training expenses for such taxable year, over (B) the average of the high-demand occupation training expenses for the 3 taxable years preceding such taxable year, plus (2) 20 percent of the excess (if any) of— (A) the low-demand occupation training expenses for such taxable year, over (B) the average of the low-demand occupation training expenses for the 3 taxable years preceding such taxable year. (b) Definitions For purposes of this section— (1) High-demand occupation training expense The term high-demand occupation training expense (2) Low-demand occupation training expense The term low-demand occupation training expense (3) Qualified training expense (A) In general The term qualified training expense (B) Exclusion The term qualified training expense (4) Qualified training program (A) In general The term qualified training program (i) An apprenticeship program registered under section 1 of the Act of August 16, 1937 (commonly known as the National Apprenticeship Act 29 U.S.C. 50 (ii) A program to obtain a recognized postsecondary credential (as such term is defined in section 3(52) of the Workforce Innovation and Opportunity Act). (iii) A program eligible to receive funds under the Carl D. Perkins Career and Technical Education Act of 2006. (iv) Any other program designated by the Secretary of Labor or the Secretary of Education for purposes of this section. (5) Non-highly compensated employee The term non-highly compensated employee (A) who is a full-time employee (as such term in defined in section 4980H(c)(4)), and (B) whose compensation does not exceed $82,000 for such taxable year. . (b) Credit To be part of general business credit Section 38(b) of such Code is amended by striking plus , plus (33) the worker training credit determined under section 45T. . (c) Clerical amendment The table of sections for subpart D of part IV of subchapter A of chapter 1 of such Code is amended by adding at the end the following new item: Sec. 45T. Credit for increasing worker training. . (d) Effective date The amendments made by this section shall apply to taxable years beginning after the date of the enactment of this Act.

Summary: Investing in Tomorrow's Workforce Act of 2019 This bill allows a business-related tax credit for employers who increase spending on worker training programs compared to their average training expenses for the three previous years. The tax credit is equal to the sum of (1) 40% of the increase for high-demand occupation training expenses, and (2) 20% of the increase for low-demand occupation training expenses. The expenses must be for full-time employees whose compensation does not exceed $82,000 for the year. A "high-demand occupation training expense" is designed to lead to employment in an occupation that is expected to experience not fewer than 20% occupational openings over a specified 10-year period. A "low-demand occupation training expense" is designed to lead to employment in any other occupation.