Tax credit to Qualified High Technology Companies for retraining costs for qualified disadvantaged employees.

# (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 $10,000 for each qualified disadvantaged employee during the first 18 months of employment.

# (e)

[Repealed].