Internal Revenue Code:Sec. 45N. Mine rescue team training credit

From TaxAlmanac

Location in Internal Revenue Code

     TITLE 26 - INTERNAL REVENUE CODE
      Subtitle A - Income Taxes
       CHAPTER 1 - NORMAL TAXES AND SURTAXES
        Subchapter A - Determination of Tax Liability
         PART IV - CREDIT AGAINST TAXES
          Subpart D - Business Related Credits

Statute

SEC. 45N. MINE RESCUE TEAM TRAINING CREDIT.

    (a) Amount of Credit.--For purposes of section 38, the mine rescue 
team training credit determined under this section with respect to each 
qualified mine rescue team employee of an eligible employer for any 
taxable year is an amount equal to the lesser of--
            (1) 20 percent of the amount paid or incurred by the 
        taxpayer during the taxable year with respect to the training 
        program costs of such qualified mine rescue team employee 
        (including wages of such employee while attending such program), 
        or
            (2) $10,000.
    (b) Qualified Mine Rescue Team Employee.--For purposes of this 
section, the term `qualified mine rescue team employee' means with 
respect to any taxable year any full-time employee of the taxpayer who 
is--
            (1) a miner eligible for more than 6 months of such 
        taxable year to serve as a mine rescue team member as a result 
        of completing, at a minimum, an initial 20-hour course of 
        instruction as prescribed by the Mine Safety and Health 
        Administration's Office of Educational Policy and Development, 
        or
            (2) a miner eligible for more than 6 months of such 
        taxable year to serve as a mine rescue team member by virtue of 
        receiving at least 40 hours of refresher training in such 
        instruction.
    (c) Eligible Employer.--For purposes of this section, the term 
`eligible employer' means any taxpayer which employs individuals as 
miners in underground mines in the United States.
    (d) Wages.--For purposes of this section, the term `wages' has the 
meaning given to such term by subsection (b) of section 3306 (determined 
without regard to any dollar limitation contained in such section).
    (e) Termination.--This section shall not apply to taxable years 
beginning after December 31, 2008.

Sources

Established by section 405 of the Tax Relief and Health Care Act 
of 2006 (P.L. 109-432)
Effective Date.--The amendments made by this section shall apply to 
taxable years beginning after December 31, 2005.