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The DC Code: § 47-1817.04 Tax credit to Qualified High Technology Companies for retraining costs for qualified disadvantaged employees.

Index47 Taxation, Licensing, Permits, Assessments, and Fees. (Refs & Annos)
a
(1) For purposes of this section, the term "qualified disadvantaged employee" means a District resident who:
A
Is a recipient of Temporary Assistance for Needy Families ("TANF");
B
Was a recipient of TANF in the period immediately proceeding employment;
C
Was released from incarceration within 24 months before the date of employment by a Qualified High Technology Company; or
D
Is an employee hired, or relocated to the District, after December 31, 2000 and for which a Qualified High Technology company also is eligible to claim the Welfare to Work Tax Credit or the Work Opportunity Tax Credit under the Internal Revenue Code of 1986.
2
The term "qualified disadvantaged employee" shall not mean or include:
A
A temporary or seasonal employee; or
B
An employee who was employed as the result of:
i
The displacement, other than for cause of another employee;
ii
A strike or lockout;
iii
A layoff in which other employees are awaiting recall; or
iv
A reduction of the regular wages, benefits, or rights of other employees in similar jobs.
b
For taxable years beginning after December 31, 2000, a Qualified High Technology Company shall be allowed a credit against taxes imposed by § 47- 1817.06 for expenditures paid or incurred during the taxable year for retraining of a qualified disadvantaged employee.
c
Qualified disadvantaged employee retraining expenditures which are eligible for the tax credit are:
1
Tuition, costs, or fees for credit or noncredit courses leading to academic degrees or certification of professional, technical, or administrative skills taken at District-based accredited colleges or universities or the cost for formal enrollment in training programs offered by nonprofit training providers (including community or faith-based organizations certified for the provision of training or job-readiness preparation at skill levels suitable for immediate performance of entry-level jobs), in demand among technology companies in general, and information and telecommunications companies in particular. Eligible training programs, other than those at District-based accredited colleges or universities, shall be pre-qualified for participation under this section by the Department of Employment Services; and
2
Worker retraining programs undertaken through an apprenticeship agreement approved by the District of Columbia Apprenticeship Council.
d
The credit claimed under this section shall be limited to $20,000 for each qualified disadvantaged employee during the first 18 months of employment.
e
If the amount of the credit allowable under this section exceeds the tax otherwise due from a Qualified High Technology Company, the unused amount of the credit may be:
1
Carried forward for 10 years; or
2
Taken as a refundable credit in an amount up to 50% of the credit.

Historical and Statutory

Effect of Amendments D.C. Law 14-42, in subsec. (a)(1), deleted the second subparagraph (B) which had read as follows: "(B) An employee who was employed as the result of: "(i) The displacement, other than for cause, of another employee; "(ii) A strike or lockout; "(iii) A layoff in which other employees are awaiting recall; or "(iv) A reduction of the regular wages, benefits, or rights of other employees in similar jobs." Emergency Act Amendments For temporary (90 day) amendment of section, see § 10(i) of Technical Amendments Emergency Act of 2001 (D.C. Act 14-108, August 3, 2001, 48 DCR 7622). Legislative History of Laws For Law 13-256, see notes following § 47-1817.01. For Law 14-42, see notes following § 47-1361. DC CODE § 47-1817.04 Current through December 11, 2012

Credits

(Apr. 3, 2001, D.C. Law 13-256, § 203(b), 48 DCR 730; Oct. 26, 2001, D.C. Law 14-42, § 10(i), 48 DCR 7612.)