H.R. 5493 — USA Workforce Investment Act

This section establishes a nonrefundable income tax credit under new IRC §25G of up to $1,700 ($1,700 cap) for an individual's qualified cash contributions during the taxable year to certain 501(c)(3) organizations (not private foundations) listed as eligible training providers under Workforce Innovation and Opportunity Act (WIOA) §122(d) (29 U.S.C. 3152(d)) for providing WIOA-defined training services (29 U.S.C. 3174(c)(3)), reduced by any state tax credit for the same contributions. Such contributions are ineligible for the charitable contribution deduction under IRC §170, and unused credits carry forward to the five succeeding taxable years (on a first-in first-out basis, subject to overall limitations under IRC §26(a)). The amendments apply to taxable years beginning after enactment.