HR 186 116th Congress House Taxation Business investment and capital Economic development Income tax credits Poverty and welfare assistance Small business Veterans' education, employment, rehabilitation

Veterans Jobs Opportunity Act

Introduced: January 3, 2019 See on congress.gov

Everywhere this bill has been 2 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Jan 3, 2019

Referred to the House Committee on Ways and Means.

Jan 3, 2019

Introduced in House

Plain-English summary Congressional Research Service

Veterans Jobs Opportunity Act

This bill allows a new business-related tax credit for the start-up expenses of a veteran-owned small business in an underserved community.

The allowable amount of such credit is 15% of start-up expenditures that do not exceed $80,000. To be eligible for the credit, the small business must (1) be owned and controlled by one or more veterans or spouses of veterans, and (2) have a principal place of business in an underserved community.

An "underserved community" is any area located within (1) a HUBZone (as defined by the Small Business Act), (2) an empowerment zone or an enterprise community, (3) an area of low income or moderate income (as recognized by the Federal Financial Institutions Examination Council), or (4) a county with persistent poverty (as classified by the Economic Research Service of the Department of Agriculture).

What's happening now January 3, 2019

Referred to the House Committee on Ways and Means.

Committees of jurisdiction 1