; special rules and inserting Elementary and secondary school teachers . (e) Effective date The amendments made by this section shall apply to taxable years beginning after December 31, 2017. 4. STEM internship tax credit (a) In general Subpart D of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by adding at the end the following new section: 45T. STEM internship credit (a) General rule For purposes of section 38, in the case of an eligible employer the STEM internship credit determined under this section for the taxable year is equal to $2,000 for each qualified STEM intern employed by the employer during the taxable year. (b) Limitation The total amount of the credit allowed under subsection (a) to a taxpayer for a taxable year may not exceed $50,000. (c) Definitions For purposes of subsection (a)— (1) Qualified STEM intern The term qualified STEM intern means an individual who is employed under an internship program of an eligible employer under which— (A) each intern is paid not less than the wage in effect under section 6(a) of the Fair Labor Standards Act of 1938, (B) each intern is employed for not less than 20 hours per week by the eligible employer in a position related to the career goals of the intern, (C) each intern completes not less than 6 weeks of employment with the eligible employer as an intern, and (D) each intern is a student who is enrolled full-time in a science, technology, engineering, or math program (including a program of study abroad approved for credit by the eligible institution at which such student is enrolled) leading to a recognized undergraduate or graduate degree at an institution of higher education that is an eligible institution in accordance with the provisions of section 487 of the Higher Education Act of 1965 ( 20 U.S.C. 1094 ) and is not enrolled in an elementary or secondary school. (2) Eligible employer (A) In general The term eligible employer means an employer who employed on average not more than 500 full-time employees on