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HR 5354 117th 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: September 23, 2021 See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Sep 23, 2021
Referred to the House Committee on Ways and Means.
Sep 23, 2021
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 $50,000. To be eligible for the credit, the small business must (1) be owned and controlled by one or more veterans or their spouses, and (2) have its 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 September 23, 2021

Referred to the House Committee on Ways and Means.

 Committees of jurisdiction 1
 Cosponsors 4
All 4 Democratic 4