The bill amends the Washington customized employment training program by extending the expiration date of the associated tax credit from July 1, 2026, to July 1, 2031. It highlights the importance of affordable employer-specific worker training for both businesses and communities, noting that 75% of participating businesses have successfully completed the training and repaid the training allowance. The bill also introduces new reporting requirements for the college board, which must now provide data on credit eligibility distribution by county, the distribution of qualified training institutions, and efforts to encourage broader industry participation in the program.

Additionally, the bill establishes a tax preference performance statement to evaluate the effectiveness of the tax credit. It emphasizes the legislature's goal of enhancing workforce development and retaining businesses in Washington. If a review finds that 75% of participating businesses complete the training and repay the loan, the legislature intends to further extend the expiration date of the tax preference. The section detailing the tax credit and its requirements will expire on July 1, 2033.

Statutes affected:
Original Bill: 82.04.449
Bill as Passed Legislature: 82.04.449
Session Law: 82.04.449