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(a)
(1) For purposes of this section, the term “qualified disadvantaged employee” means a District resident who:
(A) Is a recipient of Temporary Assistance for Needy Families (“TANF”);
(B) Was a recipient of TANF in the period immediately proceeding employment;
(C) Was released from incarceration within 24 months before the date of employment by a Qualified High Technology Company; or
(D) Is an employee hired, or relocated to the District, after December 31, 2000 and for which a Qualified High Technology company also is eligible to claim the Welfare to Work Tax Credit or the Work Opportunity Tax Credit under the Internal Revenue Code of 1986.
(2) The term “qualified disadvantaged employee” shall not mean or include:
(A) A temporary or seasonal employee; or
(B) An employee who was employed as the result of:
(i) The displacement, other than for cause of another employee;
(ii) A strike or lockout;
(iii) A layoff in which other employees are awaiting recall; or
(iv) A reduction of the regular wages, benefits, or rights of other employees in similar jobs.
(b) For taxable years beginning after December 31, 2000, a Qualified High Technology Company shall be allowed a credit against taxes imposed by § 47-1817.06 for expenditures paid or incurred during the taxable year for retraining of a qualified disadvantaged employee.
(c) Qualified disadvantaged employee retraining expenditures which are eligible for the tax credit are:
(1) Tuition, costs, or fees for credit or noncredit courses leading to academic degrees or certification of professional, technical, or administrative skills taken at District-based accredited colleges or universities or the cost for formal enrollment in training programs offered by nonprofit training providers (including community or faith-based organizations certified for the provision of training or job-readiness preparation at skill levels suitable for immediate performance of entry-level jobs), in demand among technology companies in general, and information and telecommunications companies in particular. Eligible training programs, other than those at District-based accredited colleges or universities, shall be pre-qualified for participation under this section by the Department of Employment Services; and
(2) Worker retraining programs undertaken through an apprenticeship agreement approved by the District of Columbia Apprenticeship Council.
(d) The credit claimed under this section shall be limited to $20,000 for each qualified disadvantaged employee during the first 18 months of employment.
(e) If the amount of the credit allowable under this section exceeds the tax otherwise due from a Qualified High Technology Company, the unused amount of the credit may be:
(1) Carried forward for 10 years; or
(2) Taken as a refundable credit in an amount up to 50% of the credit.