3.0.0 1298 2026-02-19T14:50:05Z 2026-02-19T14:50:05Z House H HR 2025-02-13 119 https://www.congress.gov/bill/119th-congress/house-bill/1298 <pre>[Congressional Record Volume 171, Number 30 (Thursday, February 13, 2025)][House]From the Congressional Record Online through the Government Publishing Office [<a href="https://www.gpo.gov">www.gpo.gov</a>]By Mr. DAVIS of North Carolina:H.R. 1298.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8, Clause 18.[Page H710]</pre> hswm00 Ways and Means Committee House Standing Referred To 2025-02-13T14:08:45Z 119 2443 S 2025-07-24 Read twice and referred to the Committee on Finance. Related bill CRS 2025-02-13 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2025-02-13 Introduced in House IntroReferral Intro-H 9 Library of Congress 2025-02-13 Introduced in House IntroReferral 1000 9 Library of Congress D000230 Rep. Davis, Donald G. [D-NC-1] Donald Davis D NC G. 1 N N000193 Rep. Nunn, Zachary [R-IA-3] Zachary Nunn R IA 3 2025-02-13 True Taxation Taxation 2025-05-06T14:05:10Z

00 2025-02-13 Introduced in House 2026-02-19T14:49:12Z <p><strong>Veterans Jobs Opportunity Act</strong></p><p>This bill allows veteran-owned small businesses in underserved communities to claim a tax credit for qualified start-up expenses in the amount of 15% (up to $50,000) of such expenses. (Conditions and limitations apply.)</p><p>Under the bill, a business qualifies for the veteran small business start-up tax credit if it</p><ul><li>is owned and controlled by one or more veterans (or spouses of veterans);</li><li>is located in a Historically Underutilized Business Zone (HUBZone) program area, empowerment zone or enterprise community, an area of low or moderate income, or county with persistent poverty; and</li><li>has gross receipts for the prior tax year of $5 million or less (or employed 50 or fewer full-time employees in the prior tax year).</li></ul><p>The bill generally defines <em>qualified start-up expenses</em> as amounts incurred or paid to</p><ul><li>investigate the creation or acquisition of the business,</li><li>create the business,</li><li>engage in activities for the production of income before the day the business opens, and</li><li>purchase&nbsp;or lease real property (or purchase personal property)&nbsp;for use in the active conduct of a trade or business.</li></ul><p>However, under the bill, the veteran small business start-up tax credit is allowed only in the first two tax years for which a business may claim a tax deduction for ordinary and necessary trade or business expenses.</p><p>Finally, the bill requires the&nbsp;Treasury Inspector General for Tax Administration to provide an evaluation of the veteran small business start-up tax credit to Congress every four years.</p>

Display Title 45 2025-03-17T12:38:25Z Short Title(s) as Introduced 101 2025-03-17T12:38:23Z Introduced in House IH Official Title as Introduced 6 2025-03-17T12:33:23Z Introduced in House IH Introduced in House 2025-02-13T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-119hr1298ih/xml/BILLS-119hr1298ih.xml 2025-02-13 Referred to the House Committee on Ways and Means. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.