A bill to provide a tax credit for retraining expenses for individuals who are unemployed, and for other purposes.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to allow an income tax credit for retraining expenses for individuals who are unemployed. Sets the amount of such credit at 50 percent of an individual's retraining expenses up to a limit of $1,000. Sets forth rules for the carryback and carryforward of such income tax credit. Defines "retraining expenses" as: (1) any tuition or fees for an eligible training program at a qualified institution; (2) expenses for books, supplies, or equipment; and (3) any other expense directly related to participation in such a training program (other than food, lodging, or travel).…