SB 933 Summary

• Extends apprenticeship tax credits to affected business entities and expands coverage to all registered trades starting January 1, 2022.

• Manufacturing trades credit: $6 per hour for apprentices in first half of two-year terms or first three-quarters of four-year terms, capped at $7,500 or 50% of wages paid, whichever is less.

• Plastics trades credit: $4 per hour for apprenticeships exceeding average number begun in prior five years, capped at $4,800 or 50% of wages paid, whichever is less.

• Construction trades credit: $2 per hour upon program completion, capped at $4,000 or 50% of wages paid over first four years, whichever is less.

• New credit for all other registered trades starting 2022: $4 per hour upon completion, capped at $5,000 or 50% of wages paid over first four years, whichever is less; shareholders, partners, and single-member LLC owners may claim credits.