[Congressional Bills 103th Congress]
[From the U.S. Government Publishing Office]
[H.R. 325 Introduced in House (IH)]

103d CONGRESS
  1st Session
                                H. R. 325

  To amend the Internal Revenue Code of 1986 to extend and modify the 
                         targeted jobs credit.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            January 5, 1993

  Mr. Rangel introduced the following bill; which was referred to the 
                      Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
  To amend the Internal Revenue Code of 1986 to extend and modify the 
                         targeted jobs credit.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. EXTENSION AND MODIFICATION OF TARGETED JOB CREDIT.

    (a) Extension.--Paragraph (4) of section 51(c) of the Internal 
Revenue Code of 1986 (relating to termination) is hereby repealed.
    (b) Restoration of Economically Disadvantaged Youth Status to 
Individuals Who Have Not Attained Age 25.--
            (1) In general.--Subparagraph (B) of section 51(d)(3) of 
        such Code is amended by striking ``age 23'' and inserting ``age 
        25''.
            (2) Effective date.--The amendment made by paragraph (1) 
        shall apply to individuals who begin work for the employer 
        after June 30, 1992.

SEC. 2. CREDIT ELIGIBILITY FOR CERTAIN VETERANS.

    (a) Veterans Designated.--Paragraph (1) of section 51(d) of the 
Internal Revenue Code of 1986 (relating to members of targeted groups) 
is amended by striking ``or'' at the end of subparagraph (I), by 
striking the period at the end of subparagraph (J) and inserting ``, 
or'', and by adding at the end thereof the following new subparagraph:
                    ``(K) an economically disadvantaged veteran.''
    (b) Economically Disadvantaged Veteran Defined.--Section 51(d) of 
such Code is amended by adding at the end thereof the following new 
paragraph:
            ``(17) Veteran who is a member of an economically 
        disadvantaged family.--The term `veteran who is a member of an 
        economically disadvantaged family' means any individual who is 
        certified by the designated local agency as--
                    ``(A) having served in the active military, naval, 
                or air services (other than active duty for training) 
                of the United States,
                    ``(B) having been discharged or released from such 
                service under conditions other than dishonorable, and
                    ``(C) being a member of an economically 
                disadvantaged family (determined under paragraph 
                (11)).''
    (c) Effective Date.--The amendments made by this section shall 
apply to individuals who begin work for the employer after June 30, 
1993.

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