Am. H.B. No. 155 Summary

• Establishes a nonrefundable income tax credit equal to one-half of certified training expenses incurred by employers to train employees to obtain or operate commercial motor vehicles.

• Limits individual employer certification to $50,000 per calendar year, with a statewide annual cap of $3 million in certified training expenses (plus unused authorizations from prior years).

• Employers must apply by December 1st to the Director of Development Services to certify estimated training expenses for the following year; those with certified expenses may claim the tax credit between January 1-21 of the subsequent year.

• The credit is nonrefundable and can be carried forward for five taxable years if it exceeds tax liability; pass-through entities may claim the credit under their allocated share of expenses.

• Applies to training expenses estimated to be incurred on or after January 1, 2018, with the Director required to adopt implementing rules within 150 days of the effective date.