H.R. 6752 — Investing in American Workers Act

This section establishes a new general business tax credit under new IRC §45BB (added to subpart D of part IV of subchapter A of chapter 1) equal to 20% of the excess (if any) of a taxpayer's qualified training expenditures for the taxable year over the average adjusted qualified training expenditures for the prior three taxable years (or 10% of qualified training expenditures if the taxpayer had none in any prior year). Qualified training expenditures are amounts paid for training non-highly compensated employees (i.e., those with remuneration not exceeding 60% of the highly compensated employee threshold under IRC §414(q)(1)(B)(i)) that results in a recognized postsecondary credential (i.e., as listed under WIOA §122(d)) and is provided through (1) registered apprenticeships under the National Apprenticeship Act, (2) WIOA-listed training services or state-approved apprenticeships, (3) area career and technical education schools under the Perkins CTE Act, community colleges under the Higher Education Act, or labor organizations, or (4) employer-, industry trade association-, industry/sector partnership-, or labor organization-sponsored programs (excluding amounts for meals, lodging, transportation, or incidental services). Adjusted qualified training expenditures account for cost-of-living adjustments under IRC §1(f)(3); aggregation rules similar to IRC §41(f) apply; and qualified small businesses or tax-exempt organizations may elect to apply the credit against payroll taxes under IRC §3111(g).