S. 4856 · 118th Congress
Veterans Jobs Opportunity Act
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Never voted on. It didn't reach a floor vote before the 118th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
RosenSponsor1 cosponsor · 1 R
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill allows a new business-related tax credit for the start-up expenses of a veteran-owned small business in an underserved community.
What it does: CRS summary · Introduced in Senate · Jul 30, 2024
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).
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Veterans Jobs Opportunity Act
Latest action (Jul 30, 2024): Read twice and referred to the Committee on Finance.
Policy area: Taxation · Origin: Senate · Introduced: Jul 30, 2024
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.