§ 38NN — Nonrefundable credits for trainings; eligibility; credit amount

[ Text of section added by 2024, 88, Sec. 7 effective April 30, 2024 for tax years
beginning on or after January 1, 2024. See 2024, 88, Sec. 29. Repealed by
2024, 88, Sec. 8, applicable as provided by 2024, 88, Sec. 30.]Section 38NN. (a) As used in this subsection, the following words shall,
unless the context clearly requires otherwise, have the following meanings:"Authorized training program", a program approved by the secretary of administration and finance and the secretary of labor and workforce develop ment that is offered by an employer to train qualified trainees; provided, that said program shall assist qualified trainees in developing skills and accessing resources to prepare qualified trainees to enter the workforce; and provided further, that no authorized training program shall provide compensation to a qualified trainee without work authorization and said program shall ensure the qualified trainee has no expectation of compensation for training."Qualified trainee", an individual receiving benefits through the emergency
housing assistance program pursuant to section 30 of chapter 23B and 760 CMR
67.00 or an individual in an overflow emergency shelter site established in
response to the capacity limitation on said program pursuant to a declaration
issued by the secretary of housing and livable communities dated October 31,
2023, the extension of the declaration dated February 28, 2024 and any
subsequent extensions, issued pursuant to 760 CMR 67.10, as inserted by
emergency regulations issued by the executive office of housing and livable
communities on October 31, 2023, and accompanying guidance issued pursuant
to said declaration and 760 CMR 67.10, who: (i)(A) has not received work
authorization; or (B) is currently unemployed; and (ii) is participating in an
authorized training program."Training", teaching, developing or enhancing skills and knowledge to improve
capacity, productivity and performance to enter the workforce, including,
but not limited to, classes, clinics or other hands-on methods."Work authorization", federal authorization to work in the United States
pursuant to 8 CFR 274a.(b) A business corporation may be allowed a nonrefundable credit equal to
$2,500 for each qualified trainee who receives training through an authorized
training program by said business corporation in a taxable year. If the credit
allowed for a taxable year exceeds the taxpayer’s liability for that taxable year,
the taxpayer may carry forward and apply the credit in the subsequent taxable
year.(c) To be eligible for the credit pursuant to subsection (b), the business
corporation shall: (i) have a place of business in the commonwealth; (ii) conduct
the authorized training program in the commonwealth and in compliance with
recommendations of the secretary of labor and workforce development pursuant
to subsection (e); and (iii) meet any additional requirements determined by the
secretary of administration and finance and the secretary of labor and workforce
development.(d) The total amount of credits that may be authorized in a taxable year
pursuant to subsection (dd) of section 6 of chapter 62 and this section shall not
exceed $10,000,000.(e) The secretary of labor and workforce development shall:(i) identify industries with the greatest workforce needs in geographically
diverse areas of the commonwealth in which qualified trainees may be employed
after receiving work authorization; provided, that the secretary of labor and workforce development shall identify industries with varying work experience,
education, certification and licensure requirements for training;(ii) provide recommendations for training criteria to enable qualified trainees
to be successful in the workforce; provided, that the secretary of labor and
workforce development shall provide specific industry recommendations for
training; and provided further, that the secretary may identify existing training
programs that meet said training criteria; and(iii) perform outreach to industries identified as having the greatest workforce
needs to provide notice of the tax credit program established pursuant to
this section.