equal to the excess (if any) of— (A) $3,000, over (B) the credit allowed under subsection (a) with respect to such taxpayer for all preceding taxable years. (2) Interns An election may not be made under this section with respect to more than 5 qualified interns for any taxable year. (c) Definitions and special rules For purposes of this section— (1) Eligible small employer The term eligible small employer means any person which employed not more than 500 employees during the preceding taxable year. Rules similar to the rules of section 448(c)(3) shall apply. (2) Eligible wages The term eligible wages means any remuneration paid by the taxpayer to an individual for services rendered as an employee. (3) Qualified intern The term qualified intern means any individual who, during the period for which wages are taken into account under subsection (a), is— (A) enrolled at an eligible educational institution (as defined in section 25A(f)(2)), (B) seeking a degree at such institution in a field of study closely related to the work performed for the taxpayer, and (C) supervised and evaluated by the taxpayer. (4) Controlled group All persons treated as a single employer under subsection (a) or (b) of section 52 shall be treated as a single employer for purposes of this section. (5) Related individuals ineligible Rules similar to the rules of section 51(i)(1) shall apply for purposes of this section. . (2) Conforming amendments (A) Section 38(b) of such Code is amended by striking plus at the end of paragraph (35), by striking the period at the end of paragraph (36) and inserting , plus , and by adding at the end the following new paragraph: (37) the intern wage credit under section 45S(a). . (B) The table of sections for subpart D of part IV of subchapter A of chapter 1 of such Code is amended by adding at the end the following new item: Sec. 45S. Intern wage credit. . (3) Effective date The amendments made by this subsection shall apply to taxable years beginning after the date of the enactment of this Act. 104.