Sec.12-217g-3. Eligibility

Any taxpayer who employs a machine tool and metal trade apprentice duly enrolled and registered under the terms of a qualified program is entitled to a tax credit for each eligible apprentice of up to $4,800.00 maximum or 50% of actual wages, whichever is less, provided such apprenticeships meet the following requirements:

(a) The tax credit is limited to qualified Machine Tool and Metal Trade programs with apprenticeship periods of duration which are not less than 4,000 hours (2 years) and not more than 8,000 hours (4 years).

(b) The apprentice must be employed on a full time basis which is defined as working a minimum of 120 hours per month at the trade. Up to 80 hours may be applied during the tax year against the 120 hour limitation.

(c) Pre-apprentices are not counted as apprenticeships begun and wages earned by pre-apprentices are not eligible for tax credits under this regulation.

(d) The number of apprenticeships for which tax credit is allowed must exceed the average number of such apprenticeships begun during the five preceding income years.

(Effective March 24, 1995)