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HR 4199 112th Congress House

Jets for Vets Act of 2012

Official title: To amend the Internal Revenue Code of 1986 to close the corporate jet depreciation loophole and to increase the work opportunity tax credit for veterans.

Introduced: March 26, 2012 See on congress.gov
Taxation Aviation and airportsBusiness investment and capitalEmployee hiringIncome tax credits
More subjectsShow fewer subjects
Income tax deductionsMotor vehiclesVeterans' education, employment, rehabilitation
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This bill died when the 112th Congress ended
It never became law before the 112th Congress (2011–2012) 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 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 16, 2012
Referred to the House Committee on Ways and Means.
Mar 16, 2012
Introduced in House
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 Latest action March 16, 2012

Referred to the House Committee on Ways and Means.

 Plain-English summary Congressional Research Service

Closing Corporate Jet Tax Loopholes to Employ Veterans Act of 2012 or the Jets for Vets Act of 2012 - Amends the Internal Revenue Code to classify general aviation aircraft as seven-year property for purposes of the depreciation tax deduction (currently, expenses for aircraft can be deducted or expensed in the current taxable year). Defines "general aviation aircraft" as any airplane or helicopter not used in commercial or contract carrying of passengers or freight, but which primarily engages in the carrying of passengers.

Increases the work opportunity tax credit for the hiring of veterans by increasing the dollar limitation on veteran wages eligible for such credit with revenue saved from the depreciation reclassification of general aviation aircraft by this Act.

 Related & companion bills 1
  • HR 6109 Related bill Investing in American Innovation Act of 2012
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 3
All 3 Democratic 2
D
Chu, Judy
California · May 8, 2012
Bordallo, Madeleine
· Mar 28, 2012
 D
Scott, Robert C. "Bobby"
Virginia · Mar 26, 2012
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 4199: Jets for Vets Act of 2012. 112th Congress. Open America. https://openamerica.io/bill/112-HR-4199/
MLA
"H.R. 4199: Jets for Vets Act of 2012." 112th Congress, 2026, Open America, https://openamerica.io/bill/112-HR-4199/.
Bluebook (legal)
H.R. 4199, 112th Cong. (2026), https://openamerica.io/bill/112-HR-4199/.
Markdown link
[H.R. 4199: Jets for Vets Act of 2012](https://openamerica.io/bill/112-HR-4199/)
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