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Tax Credit for Veterans Starting Businesses in Underserved Areas.

This act introduces a new tax credit for veterans and their spouses who establish small businesses in low-income or high-unemployment areas. The goal is to foster job creation and economic growth in these communities by making it easier for veterans to start their own ventures.
Key points
Veterans and their spouses can receive a tax credit of up to 15% of start-up costs, capped at $50,000, for establishing a small business.
The credit applies to businesses located in "underserved communities," defined as low-income areas, high-unemployment zones, or special development areas.
The business must be over 50% owned by a veteran or their spouse and meet small business criteria (e.g., annual receipts up to $5 million or up to 50 employees).
The credit aims to encourage veterans to invest and create jobs in economically struggling regions.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_HR_1298
Sponsor: Rep. Davis, Donald G. [D-NC-1]
Process start date: 2025-02-13
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Summarized by: gemini-2.5-flash
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 119_HR_1298.

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 2025-02-13.

What are the main provisions?

Key points include:

  • Veterans and their spouses can receive a tax credit of up to 15% of start-up costs, capped at $50,000, for establishing a small business.
  • The credit applies to businesses located in "underserved communities," defined as low-income areas, high-unemployment zones, or special development areas.
  • The business must be over 50% owned by a veteran or their spouse and meet small business criteria (e.g., annual receipts up to $5 million or up to 50 employees).
  • The credit aims to encourage veterans to invest and create jobs in economically struggling regions.
What is the specific legal status?

The current status is Introduced.

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. Davis, Donald G. [D-NC-1].

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 2025-12-22.

CATEGORIES

Taxes Labor Economy