Bill > HR1662

This bill, known as the "Leveraging and Energizing America's Apprenticeship Programs Act" (LEAP Act), aims to provide a tax credit to employers who participate in qualified apprenticeship programs. The bill would allow employers to receive a $1,500 tax credit for each apprenticeship employee who exceeds their baseline number of apprentices, with the credit limited to two taxable years per employee. An apprenticeship employee is defined as someone working in an officially recognized apprenticeable occupation and currently enrolled in a registered apprenticeship program. The credit calculation is based on the number of apprenticeship employees above the employer's average from the previous three years, with special provisions for new apprenticeship programs. The bill includes specific exclusions for certain industries, particularly in construction (NAICS code 23), where only pre-apprenticeship graduates are eligible. To prevent duplicate benefits, the bill stipulates that this credit will reduce other existing employment-related tax credits. The legislation also includes a provision to coordinate with the Office of Management and Budget to reduce government printing costs, ensuring that essential printed documents remain available while moving towards more digital publication methods.

Budget and Finance

https://www.congress.gov/bill/119th-congress/house-bill/1662/all-info