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S 240 109th Congress Senate

Small Business Military Reservist Tax Credit Act

Official title: A bill to amend the Internal Revenue Code of 1986 to allow small business employers a credit against income tax with respect to employees who participate in th… Show full official titleShow less

Official title: A bill to amend the Internal Revenue Code of 1986 to allow small business employers a credit against income tax with respect to employees who participate in the military reserve components and are called to active duty and with respect to replacement employees and to allow a comparable credit for activated military reservists who are self-employed, and for other purposes.

Introduced: February 1, 2005 See on congress.gov
Taxation Armed Forces and National SecurityArmed forces reservesCommerceIncome tax
More subjectsShow fewer subjects
Iraq compilationLabor and EmploymentManufacturing industriesReplacement workersSelf-employedSmall businessTax creditsTemporary employmentWages
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This bill died when the 109th Congress ended
It never became law before the 109th Congress (2005–2006) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 1, 2005
Read twice and referred to the Committee on Finance.
Feb 1, 2005
Sponsor introductory remarks on measure. (CR S747-749)
Feb 1, 2005
Introduced in Senate
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 Latest action February 1, 2005

Read twice and referred to the Committee on Finance.

 Plain-English summary Congressional Research Service

Small Business Military Reservist Tax Credit Act - Amends the Internal Revenue Code to allow: (1) certain small business employers (50 or fewer employees) and small manufacturers (100 or fewer employees) a tax credit for a percentage of the differential between the average daily civilian compensation and average daily military pay and allowances of their military reservist employees who are called to active duty; (2) such employers a tax credit for the hiring of temporary replacement employees; and (3) self-employed military reservists a comparable tax credit for a percentage of the differential between their average daily self-employment income and their average daily military pay and allowances.

Denies a tax credit: (1) to employers who fail to comply with employment or reemployment rights of military reservists; and (2) for employees who are called to active duty for training.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 2
All 2 Democratic 2
D
Durbin, Richard J.
Illinois · Feb 1, 2005
 D
Murray, Patty
Washington · Feb 1, 2005
Cite this page click to expand
APA
U.S. Congress. (2026). S. 240: Small Business Military Reservist Tax Credit Act. 109th Congress. Open America. https://openamerica.io/bill/109-S-240/
MLA
"S. 240: Small Business Military Reservist Tax Credit Act." 109th Congress, 2026, Open America, https://openamerica.io/bill/109-S-240/.
Bluebook (legal)
S. 240, 109th Cong. (2026), https://openamerica.io/bill/109-S-240/.
Markdown link
[S. 240: Small Business Military Reservist Tax Credit Act](https://openamerica.io/bill/109-S-240/)
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