LD 241 LR 1198(02)
An Act To Support the Trades through a Tax Credit for Apprenticeship Programs
Fiscal Note for Bill as Amended by Committee Amendment " "
Committee: Taxation
Fiscal Note Required: Yes
Fiscal Note
FY 2021-22 FY 2022-23 Projections  FY 2023-24 Projections  FY 2024-25
Net Cost (Savings)
General Fund $0 $2,439,250 $2,375,000 $2,375,000
General Fund $0 $33,000 $0 $0
General Fund $0 ($2,406,250) ($2,375,000) ($2,375,000)
Other Special Revenue Funds $0 ($93,750) ($125,000) ($125,000)
Fiscal Detail and Notes
This bill provides an income tax credit to employers who employ certain apprentices and will result in a reduction in General Fund revenue of $2,406,250 in fiscal year 2022-23 and a reduction in Local Government Fund revenue of $93,750 in fiscal year 2022-23.  The bill includes a one-time General Fund appropriation of $33,000 in fiscal year 2022-23 to the Department of Administrative and Financial Services for computer programming to add lines to the individual, fiduciary and corporate income tax returns.