SKILL Act

Key Points

• This bill creates a new tax credit for businesses that help schools train workers. Companies can get $2,500 for every student who finishes a supported program and another $2,500 if they hire that student for a full-time job.
• It targets businesses that work with public community colleges or technical schools. To get the credit, companies must help design classes, offer internships, or donate money and equipment to the training programs.
• The goal is to close the skills gap by encouraging companies to invest in local education. It helps students get training for real-world jobs and makes it easier for businesses to find workers with the right skills.
• The government would set aside $500 million each year from 2027 to 2031 for these credits. Each state would get a share of the money based on how many people live there.
• If passed, the program would start for the 2027 tax year. State agencies would be responsible for picking which businesses qualify for the credits through a competitive process.

Impact Analysis

Govbase has not yet run an impact analysis on this legislation.