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S 4856 118th Congress Senate Taxation

Veterans Jobs Opportunity Act

Introduced: July 30, 2024 Introduced by: Rosen, Jacky Democratic · Nevada 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
Jul 30, 2024
Read twice and referred to the Committee on Finance.
Jul 30, 2024
Introduced in Senate
 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 July 30, 2024

Read twice and referred to the Committee on Finance.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Republican 1