contributions For purposes of this section, the term qualified contribution has the meaning given such term under section 25F. (c) Denial of double benefit No deduction shall be allowed under any provision of this chapter for any expense for which a credit is allowed under this section. (d) Election This section shall apply to a taxpayer for a taxable year only if such taxpayer elects to have this section apply for such taxable year. (e) Application of volume cap A contribution shall be taken into account under this section only if such contribution is recognized by the Secretary as applying against the volume cap established under section 4 of the USA Workforce Tax Credit Act . . (2) Conforming amendments Section 38(b) of such Code is amended by striking plus at the end of paragraph (40), by striking the period and inserting , plus at the end of paragraph (41), and by adding at the end the following new paragraph: (42) the workforce development or apprenticeship training credit determined under section 45BB(a). . (3) Clerical amendment 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. 45BB. Contributions to workforce development or apprenticeship training organizations. . (c) Excise tax on failure of scholarship granting organizations To make distributions (1) In general Chapter 42 of such Code is amended by adding at the end the following new subchapter: I Organizations Providing Workforce Development or Apprenticeship Training Sec. 4969. Tax on failure to distribute receipts. 4969. Tax on failure to distribute receipts (a) Tax imposed There is hereby imposed a tax on the failure of a workforce development or apprenticeship training organization (as defined in section 25F(c)) to make distributions in any taxable year in an amount equal to or in excess of the required distribution amount before the distribution deadline relating to a taxable year. (b) Amount of tax The tax imposed by subsection (a) with respect