(a) In general

Subpart D of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by adding at the end the following new section:

45BB. Educational and workforce training consortia credit

(a) In general

For purposes of section 38, in the case of any qualifying employer, the educational and workforce training consortia credit determined under this section for any taxable year is an amount equal to the lesser of—

(1)

the sum of—

(A)

$2,500 for each student that earns a degree, certificate, or credential from a qualifying program with respect to which such employer is a qualifying employer during such taxable year, and

(B)

$2,500 for each student that earned such a degree, certificate, or credential during such taxable year or the preceding taxable year and which such employer hired on a full-time basis during such taxable year, or

(2)

the credit amount allocated to such employer by the designated state agency under subsection (d) for the calendar year in which such taxable year begins.

(b) Qualifying employer

For purposes of this section, the term qualifying employer means, with respect to any qualifying program, any employer that is certified by the designated state agency as making contributions to such qualifying program, including by—

(1)

participating in curricula development or skills assessments,

(2)

providing internships, applied learning opportunities, registered apprenticeship programs, or access to laboratories, or

(3)

donating cash, equipment, or services.

(c) Qualifying program

For purposes of this section, the term qualifying program means any educational or training program, or registered apprenticeship, which is—

(1)

operated in coordination with qualifying employers,

(2)

certified by the designated state agency,

(3)

offered by a public college or university, or a community or technical college, and

(4)

designed to be completed by participants during a period of 2 years or less.

(d) Limitation on allocations

The designated state agency shall allocate credit amount to qualifying employers on a competitive basis. The maximum aggregate credit amount that may be allocated by a designated state agency to qualifying employers for any calendar year shall not exceed the limitation amount allocated to such designated state agency by the Secretary for such calendar year under subsection (e).

(e) National limitation

(1) In general

The national calendar year credit limitation is—

(A)

$500,000,000 for each of calendar years 2027 through 2031, and

(B)

zero for each calendar year thereafter.

(2) Allocation of limitation

The national calendar year credit limitation under paragraph (1) for each calendar year shall be allocated by the Secretary among designated state agencies in the same proportion that the population of each State bears to the aggregate population of the States. For purposes of the preceding sentence, population shall be determined in accordance with section 146(j).

(3) Carryover of unused limitation

If the national calendar year credit limitation allocated to any designated state agency for any calendar year exceeds the aggregate amount allocated by such designated state agency to qualifying employers for such year, the national calendar year credit limitation for the succeeding calendar year shall be increased by the amount of such excess.

(f) Designated state agency

For purposes of this section, the term designated state agency means any agency authorized by the State to carry out this section with respect to such State.

(g) Regulations

The Secretary may issue such regulations or other guidance as may be necessary or appropriate to carry out the purposes of this section.

(b) Credit part of general business credit

Section 38(b) of such Code is amended by striking plus at the end of paragraph (40), by striking the period at the end of paragraph (41) and inserting , plus, and by adding at the end the following new paragraph:

(42)

the educational and workforce training consortia credit determined under section 45BB(a).

(c) Clerical amendment

The table of sections for subpart D of part IV of subchapter A of chapter 1 of such Code is amended by adding at the end the following new item:

(d) Effective date

The amendments made by this section shall apply to taxable years ending after December 31, 2026.