H.R. 446 · 116th Congress
Veteran Entrepreneurs Act of 2019
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Never voted on. It didn't reach a floor vote before the 116th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
BrownleySponsor25 cosponsors · 16 D, 9 R
R
Walorski
VG
D
Gonzalez
JH
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Harder
SM
D
Moulton
HR
D
Rouda
AB
D
Brindisi
GM
D
Meng
DK
D
Kilmer
DW
D
Wasserman Schultz
PC
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Cook
PD
D
DeFazio
SW
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Watkins
WS
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Steube
SB
D
Bishop
JB
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Baird
BM
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Mast
RM
R
Marshall
SB
D
Bonamici
BC
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Carter
AH
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Hastings
DT
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Titus
BB
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Byrne
AS
D
Sires
TR
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Ryan
AC
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Carson1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill allows a business-related tax credit of up to $400,000 for 25% of the franchise fees paid or incurred by an eligible veteran for the purchase of a franchise. The bill reduces the amount of such credit if the veteran does not own 100% of the stock or capital or profits interest of the franchisee.
What it does: CRS summary · Introduced in House · Jan 10, 2019
Veteran Entrepreneurs Act of 2019
This bill allows a business-related tax credit of up to $400,000 for 25% of the franchise fees paid or incurred by an eligible veteran for the purchase of a franchise. The bill reduces the amount of such credit if the veteran does not own 100% of the stock or capital or profits interest of the franchisee.
An "eligible veteran" is a person who served in the active military, naval, or air service; was discharged or released under conditions other than dishonorable; and who pays or incurs a franchise fee in connection with a franchise agreement with a franchisor.
The veteran may elect to transfer the credit to an eligible franchisor in exchange for a discount in the franchise fee commensurate with the value of the credit.
The Small Business Administration and the Department of Veterans Affairs must provide information about the tax credit allowed by this bill to veterans service organizations and veteran advocacy groups.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Veteran Entrepreneurs Act of 2019
Latest action (Jan 10, 2019): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Jan 10, 2019
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.