HR 2060 amends the Internal Revenue Code to expand the Work Opportunity Tax Credit (WOTC) to include the hiring of qualified foster care transition youth.
The WOTC permits employers who hire individuals who are members of a targeted group [e.g., qualified veterans, ex-felons, SSI recipients] to claim a tax credit equal to a portion of the wages paid to those individuals.
A “qualified foster care transition youth” is any individual who was under age 27 as of the hiring date, and has been in foster care after age 16, as specified in provisions of the Social Security Act related to the John H. Chafee Foster Care Independence Program.
