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JLARC: Customized workforce-training B&O credit met statutory repayment threshold but usage has declined sharply
Summary
JLARC found the customized workforce training B&O tax credit met the Legislature's completion-and-repayment test for extension but use has fallen 86% since its peak; JLARC recommends extending the preference and asks the State Board for Community and Technical Colleges to broaden program reach.
A business-and-occupation tax credit that reimburses 50% of costs for customized workforce training conducted through the State Board for Community and Technical Colleges met the Legislature’s stated performance threshold but has seen steep declines in use, JLARC reported.
Pete Van Moorsil, JLARC staff, said the credit pays 50% of businesses’ training payments tied to the community and technical colleges’ customized training program. The state board finances the training from a small revolving loan fund; participants…
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