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Tax Credit for Veterans Starting Businesses in Underserved Communities

This act introduces a new tax credit for veterans and their spouses who establish small businesses in areas needing support. The goal is to encourage job creation and economic development in these communities by offering a refund for a portion of their start-up costs. This makes it easier for veterans to launch their own businesses, while local communities gain new services and employment opportunities.
Key points
Veterans and their spouses can receive a tax credit of up to 15% of business start-up costs, with a maximum of $50,000.
The credit applies to businesses opened in specifically designated areas, such as low-income zones or high-unemployment areas.
The business must be small (revenues up to $5 million or up to 50 employees) and more than 50% owned by a veteran or their spouse.
The credit aims to support veteran entrepreneurship and economic revitalization in underserved regions.
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Additional Information
Print number: 117_HR_5354
Sponsor: Rep. Lawson, Al, Jr. [D-FL-5]
Process start date: 2021-09-23
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Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Veterans Jobs Opportunity Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_5354.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-09-23.

What are the main provisions?

Key points include:

  • Veterans and their spouses can receive a tax credit of up to 15% of business start-up costs, with a maximum of $50,000.
  • The credit applies to businesses opened in specifically designated areas, such as low-income zones or high-unemployment areas.
  • The business must be small (revenues up to $5 million or up to 50 employees) and more than 50% owned by a veteran or their spouse.
  • The credit aims to support veteran entrepreneurship and economic revitalization in underserved regions.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Lawson, Al, Jr. [D-FL-5].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

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