An Act To Provide Low-Interest Loans For Accredited College Graduates Entering Trade Professions And An Employer Tax Credit For Trade Tool Reimbursements
Died in Possession of the Senate when the Legislature adjourned Sine Die and was PLACED IN THE LEGISLATIVE FILES. (DEAD)
Summary
The bill sets up a program that offers up to $20,000 in loans at no more than 2% interest to recent graduates of accredited colleges who have earned a trade degree or certificate. The loans can be used to purchase the tools needed for their new trade jobs and are forgiven after five years of full‑time work in the field. It also lets qualified employers claim a tax credit for up to $5,000 per employee when they reimburse tool purchases, as long as the employee did not use the loan program.
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