TRAINING & EDUCATIONAL TAX CREDITS 4. Skills Development Account Tax Credit Purpose: The credit was created to encourage employee advancement and skill development by offering tax credits to participating companies located in “distressed communities.” The intent was to help employees with lower skills and limited income upgrade their work skills and earn a higher wage. The program was repealed in 2004. Testimony: Amy Deem, Department of Economic Development The Department testified for information purposes only. Recommendation: The committee recommends that all references to the credit be removed from statute.