The proposed bill introduces the "West Virginia Skilled and Ready to Work Internship and Apprenticeship Incentive Act," aimed at enhancing the state's workforce by providing tax incentives to employers who offer qualified internships and apprenticeships. The bill outlines the definitions of "Qualified Internship or Apprenticeship" and "Eligible Employer," specifying that these programs must be registered and provide training in high-demand fields such as advanced manufacturing, information technology, healthcare, and skilled trades. Employers who meet these criteria can receive a tax credit of 50% of the wages paid to each qualified intern or apprentice, capped at $10,000 per individual per taxable year, with an overall limit of $150,000 in credits per employer.

Additionally, the bill mandates that employers apply for certification from the West Virginia Department of Economic Development to claim the tax credit and requires them to submit annual reports detailing the number of interns and apprentices, the duration of their employment, and wages paid. Certain positions, such as retail sales, food service, and general custodial roles, are explicitly excluded from qualifying for the tax credit. The legislation aims to strengthen West Virginia's labor market, attract business investment, and promote long-term economic growth by fostering a skilled workforce.

Statutes affected:
Introduced Version: 30-44-1, 30-44-2, 30-44-3, 30-44-4, 30-44-5, 30-44-6