SB 974: Jobs of the Future Bill

No. of Jobs

N/A

Category

Prepare the state’s workforce

Proposal

This bill will provide tax incentives for business to invest in “career pathways” that encourage students to stay in school and train for the careers of the future.

Summary

This bill will make changes to existing tax credits for Enterprise Zones, funding tax incentives for businesses that partner with schools to train students for the jobs of the future. The tax incentives will be awarded on a competitive basis by the California Tax Credit Allocation Committee and Department of Education.

Background

Under current law there are two existing tax credits of questionable success. These two credits will be redirected, providing incentives to business to link with local schools. The partnership will work with students on academics, skill development, and work related education.

Local businesses will be encouraged to partner with schools to provide internships, teacher externships, curriculum development, and to hire graduates. This proposal provides targeted tax credits, making both business and students more effective. Studies show students who are exposed to hands-on, real world career training are more likely to stay in school and graduate.

Read the Bill