Veterans Jobs Opportunity Act
- Last Action
- 5/24/2023
Actions
- 2023-05-24Sponsor introductory remarks on measure. (CR H2588)
- 2023-05-05Referred to the House Committee on Ways and Means.
- 2023-05-05Introduced in House
- 2023-05-05Introduced in House
CRS Summary
As of 2023-05-05 (00)
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).
Cosponsors (2)
- Zachary Nunn (R-IA)
- Marcus Molinaro (R-NY)
Sourced from Congress.gov (public domain).
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