MD HB1047

Removes the requirement that apprentices in employee classifications with a prevailing wage rate must receive at least 50% of the prevailing wage to qualify as "eligible apprentices" for the tax credit

Extends the termination date of the apprenticeship tax credit program from January 1, 2025 to January 1, 2031, adding 6 years to the program's duration

Maintains existing credit amounts: $1,000 per youth apprentice, $3,000 per non-youth apprentice for the first five eligible apprentices, and $1,000 for each additional apprentice

Preserves the $15,000 maximum tax credit per taxpayer per taxable year

Takes effect June 1, 2025, with changes applicable to taxable years beginning after December 31, 2024