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D. Performance requirements <br />· If the taxpayer moves jobs from one tier to another within the four year period, the <br /> remaining installments are based on the credit amount in the tier to which the jobs <br /> are relocated. <br />· If the level of employment fails below the number in the year the taxpayer qualified <br /> for the credit, the credit expires. <br /> <br />V. Worker Training Tax Credit <br /> <br />· I <br /> <br />B. <br /> <br />Basics of the credit <br />A taxpayer that provides worker training for five or more eligible employees during <br />the taxable year is allowed a credit equal to 50% of its eligible expenditures <br />The maximum credit allowed is $1000 per employee in year one and $500 <br />elsewhere <br />The credit is effective for training expenses incurred after July 1, 1997 <br /> <br />Special definitions <br />Eligible training expenditures: Expenditures for training that would be eligible for <br />expenditure or reimbursement under the New and Expanding Industry Program. <br />Eligible employee: Employee in position not classified as exempt under the Fair <br />Labor Standards Act (essentially production, clerical, technical positions). <br />Location of position: same as for Job Creation Tax Credit. <br />Eligible taxpayer: Eligible for training workers in location for which the taxpayer <br />qualified for the Investment Tax Credit, or for positions that qualified for the Job <br />Creation Tax Credit. <br /> <br /> C. Role of the Community College in determining eligibility <br />· The Department of Community College cer[ifles that the proposed training meets the <br /> requirements: <br /> - the employee is not classified as exempt under the FLSA; and <br /> - the training expenditures are eligible under the new and expanding industry <br /> program. <br />· The taxpayer must submit to the Department of Community Colleges a training plan <br /> and information to enable the Department to determine eligibility for the above <br /> requirements. <br />· The Department of Community Colleges issues a certificate that state eligibility and <br /> the location of the worker training. <br /> <br />D. Performance requirements <br />* No special requirements other than general performance requirements. <br /> <br />De~/elopers' Presentation <br /> <br />5 <br /> <br />8/5/96 <br /> <br /> <br />