Definition: In this task, you are given text for US Congressional and California state bills, your task is to generate a summary for this bill.
Input: SECTION 1. SHORT TITLE.

This Act may be cited as the ''Incentives for Successful Companies
Act of 2010''.

SEC. 2. CREDIT FOR JOB TRAINING BY SUCCESSFUL COMPANIES.

(a) In General.--Subpart D of part IV of subchapter A of chapter 1
of the Internal Revenue Code of 1986 (relating to business-related
credits) is amended by adding at the end the following new section:

''SEC. 45S. JOB TRAINING BY SUCCESSFUL COMPANIES.

''(a) General Rule.--For purposes of section 38, the successful
company job training credit determined under this section for the
taxable year is an amount equal to the amount paid or incurred by the
employer in providing qualified job training during the taxable year.
''(b) Qualified Job Training.--For purposes of this section--
''(1) In general.--The term 'qualified job training' means
job training provided to a United States employee within the 4-
week period beginning on the hiring date of such employee. The
preceding sentence shall apply only to those United States
employees who first begin work for the taxpayer after the date
of the enactment of this section.
''(2) Items included.--Such term includes--
''(A) properly allocated labor, material, and
associated overhead costs for the trainers,
''(B) non-working paid training hours, and
''(C) associated overhead for the trainees.
''(3) Items excluded.--Such term does not include general
and administrative costs.
''(c) United States Employee.--For purposes of this section--
''(1) In general.--The term 'United States employee' means
an individual who is lawfully present in the United States and
employed full time by the taxpayer in the United States.
''(2) Valid social security account number required.--Such
term shall not include any individual who does not have a valid
social security account number.
''(3) Social security account number.--The term 'social
security account number' means a social security number issued
to an individual by the Social Security Administration (other
than a social security number issued pursuant to clause (II)
(or that portion of clause (III) that relates to clause (II))
of section 205(c)(2)(B)(i) of the Social Security Act).
''(d) Other Definitions.--For purposes of this section--
''(1) Successful company.--The term 'successful company'
means any United States company or enterprise which the
Secretary determines--
''(A) maintains a long-term United States growth
plan that meets the criteria established by the
Secretary under this section,
''(B) as of the time of the determination, is
experiencing financial performance and achieving a
balance sheet would have qualified such company or
enterprise for a certain level of loan from primary
lending sources of such company or enterprise as of
June 1, 2008, on the basis of credit and underwriting
criteria in effect on such date, but cannot get access
to loans from such lending sources as of the date of
such determination because of current tighter credit
and underwriting criteria, and
''(C) in the most recent calendar year had an
average of not fewer than 5 employees and not more than
500 employees.
''(2) Hiring date.--The term 'hiring date' has the meaning
given such term by section 51(d)(11).
''(3) United states.--The term 'United States' includes the
District of Columbia and the possessions of the United States.
''(e) Special Rules.--
''(1) Monetization of credit.--At the election of the
taxpayer, the credit allowed under this section shall be
treated as a credit allowed under subpart C and not allowed
under subsection (a).
''(2) Election not to claim credit.--This section shall not
apply to a taxpayer for any taxable year if such taxpayer
elects to have this section not apply for such taxable year.
''(f) Termination.--Subsection (a) shall not apply to taxable years
beginning after December 31, 2014.''.
(b) Credit To Be Part of General Business Credit.--Subsection (b)
of section 38 of such Code (relating to general business credit) is
amended by striking ''plus'' at the end of paragraph (35), by striking
the period at the end of paragraph (36) and inserting '', plus'', and
by adding at the end the following new paragraph:
''(37) the successful company job training credit
determined under section 45S(a).''.
(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
inserting after the item relating to section 45R the following new
item:

''Sec. 45S. Job training by successful companies.''.
(d) Effective Date.--The amendments made by this section shall
apply to taxable years beginning after December 31, 2009.

SEC. 3. INCREASE IN EXPENSING BY SUCCESSFUL COMPANIES.

(a) In General.--Section 179 of the Internal Revenue Code of 1986
is amended by adding at the end the following new subsection:
''(6) Special rule for successful companies.--
''(A) In general.--In the case of a successful
company, for each taxable year beginning before 2015--
''(i) Dollar limitation.--Paragraph (1)
shall be applied by substituting '$250,000' for
the dollar amount otherwise in effect for such
taxable year.
''(ii) Reduction in limitation.--Paragraph
(2) shall be applied by substituting '$800,000'
for the dollar amount otherwise in effect for
such taxable year.
''(B) Successful company.--For purposes of
subparagraph (A), the term 'successful company' has the
meaning given such term by section 45S(d)(1).''.
(b) Effective Date.--The amendment made by subsection (a) shall
apply to taxable years beginning after December 31, 2010.
Output:
Incentives for Successful Companies Act of 2010 - Amends the Internal Revenue Code to allow through 2014: (1) certain businesses designated as successful companies a business-related tax credit for job training expenses; and (2) an increase to $250,000 in the expensing allowance for depreciable business assets placed in service by such companies. Defines a "successful company" as a U.S. company or enterprise that maintains a long-term U.S. growth plan, meets certain financial and creditworthiness criteria, and had an average of not fewer than 5 or more than 500 employees in the most recent calendar year.