Career Advancement through New Skills Act

“45T. Employee education and training credit

“(a) Allowance of credit—For purposes of section 38, the employee education and training credit determined under this section for the taxable year is an amount equal to 25 percent of the qualified education and training expenses paid or incurred by the taxpayer during such taxable year with respect to employees of the taxpayer.

“(b) Limitation—The qualified education and training expenses taken into account under subsection (a) shall not exceed $5,000 with respect to any employee for any taxable year.

“(c) Qualified education and training expenses—For purposes of this section, the term “qualified education and training expenses” means amounts paid or incurred for a program of education or training of an employee of the taxpayer if such program is specifically designed to maintain or improve skills of such employee which are necessary or useful either—

“(1) in the employee’s current employment position with such employer, or

“(2) in another employment position with such employer to which the employer reasonably anticipates such employee may transfer.

“(d) Special rules

“(1) Aggregation—All persons which are treated as a single employer under subsections (a) and (b) of section 52 shall be treated as a single employer for purposes of this section.

“(2) Denial of double benefit—No deduction or credit shall be allowed under any other provision of this chapter with respect to the amount of the credit determined under this section.

“(3) Trade or business requirement—No credit shall be allowed under this section with respect to any employee unless such employee is providing services in a trade or business of the taxpayer.”

“(33) the employee education and training credit determined under section 45T.”