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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 economically disadvantaged areas. The goal is to foster job creation and economic growth in these communities. This allows veterans to recover a portion of their business start-up costs.
Key points
Veterans and their spouses can receive a tax credit of up to 15% of qualified start-up expenditures, with a maximum of $50,000.
The credit applies to businesses established in areas designated as underserved, such as HUBZones, empowerment zones, low-income areas, or persistent poverty counties.
The business must be a small enterprise, owned and controlled by a veteran or their spouse, with annual gross receipts up to $5 million or employing up to 50 full-time employees.
The credit can be claimed during the first two taxable years of the business's operation, aiming to encourage investment in local communities.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_S_2443
Sponsor: Sen. Rosen, Jacky [D-NV]
Process start date: 2025-07-24
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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 119_S_2443.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2025-07-24.

What are the main provisions?

Key points include:

  • Veterans and their spouses can receive a tax credit of up to 15% of qualified start-up expenditures, with a maximum of $50,000.
  • The credit applies to businesses established in areas designated as underserved, such as HUBZones, empowerment zones, low-income areas, or persistent poverty counties.
  • The business must be a small enterprise, owned and controlled by a veteran or their spouse, with annual gross receipts up to $5 million or employing up to 50 full-time employees.
  • The credit can be claimed during the first two taxable years of the business's operation, aiming to encourage investment in local communities.
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 Sen. Rosen, Jacky [D-NV].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-23.

CATEGORIES

Taxes Labor Economy