17052.55.
(a) For each taxable year beginning on or after January 1, 2000, and before January 1, 2004, there shall be allowed as a credit against the “net tax,” as defined in Section 17039, an amount equal to 50 percent of the amount paid or incurred during the taxable year for qualified expenses in connection with lending a qualified employee to a public school or vocational institution for the purpose of teaching math or science.(b) For purposes of this section:
(1) “Qualified expenses” means all of the following:
(A) Amounts paid or incurred by the taxpayer with respect to expenses incurred by or on behalf of a taxpayer’s employee in connection with lending a qualified employee to a public school or vocational institution for the purpose of teaching math or science.
(B) Expenses paid or incurred by the taxpayer for the wages of a qualified employee, to the extent those wages are allocable to teaching or preparation time.
(2) “Qualified employee” means an employee whose employment specialty includes math or science.
(3) “Public school” means any high school in this state that is a part of a public school district or any community college in this state that is a part of the California Community College system.
(c) A credit shall be allowed under this section only if the teaching is certified by the public school or vocational institution receiving the teaching services. “Certified” means the issuance to the taxpayer of a service record by the public school or vocational institution, verifying receipt of the teaching services. That service record shall contain the employee’s name, dates of teaching service, number of teaching hours, and a verification signature from an authorized agent or designee of the public school or vocational institution.
(d) The credit allowed by this section shall be limited to expenses paid or incurred in connection with employees located in this state.
(e) No deduction shall be allowed to a taxpayer for that amount of expenses for which a credit is allowed to that taxpayer under this section.
(f) No credit shall be allowed under this section with respect to the lending of a qualified employee to a high school unless that employee has been issued, or is eligible for the issuance of, an eminence credential pursuant to Section 44262 of the Education Code.
(g) In the case where the credit allowed by this section exceeds the “net tax,” the excess may be carried over to reduce the “net tax” in the following year, and succeeding years if necessary, until the credit is exhausted.
(h) No credit shall be allowed under this section with respect to the lending of a qualified employee to a high school unless that employee has filled a vacant teaching position for which no certified high school teacher was available as certified by the employing school district.
(i) This section shall remain in effect only until December 1, 2004, and as of that date is repealed.