Tax credit for hiring veterans receiving federal educational assistance.
This bill introduces a new tax credit for employers who hire student veterans receiving federal educational assistance (like the GI Bill). The goal is to boost employment opportunities for veterans transitioning to civilian life while pursuing education. For citizens, this means increased job prospects for veterans and a financial incentive for businesses to hire them.
Key points
Employers become eligible for the Work Opportunity Tax Credit (WOTC) when hiring veterans who are receiving educational assistance from the Department of Veterans Affairs or Defense.
The change specifically targets veterans utilizing educational programs outlined in Titles 38 and 10 of the U.S. Code (e.g., Chapters 30, 33, 1606).
The minimum employment period required to qualify for the tax credit is modified for this specific group of qualified veterans, making it easier for companies to claim the benefit.
The amendments apply to individuals who begin work for an employer after the date the Act is signed into law.
Introduced
Additional Information
Print number: 119_HR_6404
Sponsor: Rep. Lee, Susie [D-NV-3]