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HB 1959 Student internships; tax credit to an employer for each intern hired.
SUMMARY AS INTRODUCED:
Worker retraining tax credit; student internships; College Savings Plan contributions. Provides a $1,000 tax credit to an employer for each intern hired as part of a qualified internship program. The bill defines "qualified internship program" as an internship in which the student works at least 20 hours per week for at least 10 weeks; the intern receives at least minimum wage; the intern receives training that enhances job-related skills; and such training is in the field of electrical work, engineering, manufacturing, or mechanical work. An employer would be required to obtain approval of its internship program from a school division or community college of the Commonwealth and the Department of Small Business and Supplier Diversity.
The bill also provides a credit of 30 percent of the value of any matching contribution made by the employer, up to $1,000, for a student intern's contribution to his Virginia College Savings Plan.