HB 24-1439 Summary

• Creates an apprenticeship tax credit of up to $12,600 per apprentice per year for businesses in new and emerging industries (excluding construction trades), available for tax years 2025-2034.

• Establishes maximum credit parameters: businesses can claim for up to 10 apprentices per year, same apprentice for maximum 2 consecutive years, with $6,300 for 6 months of employment plus $1,050 per additional month.

• Caps total tax credit reservations at $15 million per calendar year, administered by the State Apprenticeship Agency through an application and certification process.

• Creates two grant programs: a $2 million Scale-Up Grant Program to establish or expand registered apprenticeship programs, and a $2 million Qualified Apprenticeship Intermediary Grant Program to support entities connecting employers and participants to apprenticeship programs.

• Appropriates $103,515 for program administration and $1,333,333 for grant implementation in fiscal year 2024-25; all programs sunset by July 1, 2027, except the tax credit which expires December 31, 2037.