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Tax Credits for Employers of Military Reservists

This act introduces new tax credits for small and medium-sized businesses that employ members of the National Guard or military reserves. The goal is to encourage employers to support individuals serving in the armed forces, potentially leading to greater job stability for reservists and financial benefits for businesses.
Key points
Businesses employing reservists can receive a tax credit equal to 40% of the wages paid to them.
The maximum credit per reservist ranges from $1,000 to $10,000, depending on the number of days of uniformed service in the year.
The credit is available to employers with an average of fewer than 500 employees and who meet specific financial criteria.
The changes apply to wages paid in tax years beginning after December 31, 2023.
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Additional Information
Print number: 118_HR_10147
Sponsor: Del. Plaskett, Stacey E. [D-VI-At Large]
Process start date: 2024-11-15
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Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

RECRUIT Act of 2024

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_10147.

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 2024-11-15.

What are the main provisions?

Key points include:

  • Businesses employing reservists can receive a tax credit equal to 40% of the wages paid to them.
  • The maximum credit per reservist ranges from $1,000 to $10,000, depending on the number of days of uniformed service in the year.
  • The credit is available to employers with an average of fewer than 500 employees and who meet specific financial criteria.
  • The changes apply to wages paid in tax years beginning after December 31, 2023.
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 Del. Plaskett, Stacey E. [D-VI-At Large].

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 2025-12-24.

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Taxes Labor Security