[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[S. 367 Introduced in Senate (IS)]

112th CONGRESS
  1st Session
                                 S. 367

     To amend the Internal Revenue Code of 1986 to allow the work 
 opportunity credit to small businesses which hire individuals who are 
members of the Ready Reserve or National Guard, and for other purposes.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                           February 16, 2011

Mr. Brown of Massachusetts (for himself and Mrs. Hagan) introduced the 
 following bill; which was read twice and referred to the Committee on 
                                Finance

_______________________________________________________________________

                                 A BILL


 
     To amend the Internal Revenue Code of 1986 to allow the work 
 opportunity credit to small businesses which hire individuals who are 
members of the Ready Reserve or National Guard, and for other purposes.

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

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Hire A Hero Act of 2011''.

SEC. 2. WORK OPPORTUNITY CREDIT TO SMALL BUSINESSES FOR HIRING MEMBERS 
              OF READY RESERVE OR NATIONAL GUARD.

    (a) In General.--Paragraph (1) of section 51(d) of the Internal 
Revenue Code of 1986 is amended by striking ``or'' at the end of 
subparagraph (H), by striking the period at the end of subparagraph (I) 
and inserting ``, or'', and by adding at the end the following new 
subparagraph:
                    ``(J) in the case of an eligible employer (as 
                defined in section 408(p)(2)(C)(i)), an individual who 
                is a member of--
                            ``(i) the Ready Reserve (as described in 
                        section 10142 of title 10, United States Code), 
                        or
                            ``(ii) the National Guard (as defined in 
                        section 101(c)(1) of such title 10).''.
    (b) Effective Date.--
            (1) In general.--The amendment made by this section shall 
        apply to wages paid or incurred after the date of the enactment 
        of this Act in taxable years ending after such date.
            (2) Current employees covered by credit.--For purposes of 
        applying section 51 of the Internal Revenue Code of 1986, 
        individuals described in section 51(d)(1)(J) of such Code, as 
        added by this section, who are employed by an eligible employer 
        (as defined in section 408(p)(2)(C)(i) of such Code) on the 
        date of the enactment of this Act shall be treated as beginning 
        work for such employer on such date.

SEC. 3. PERMANENT EXTENSION OF WORK OPPORTUNITY CREDIT FOR EMPLOYERS 
              HIRING QUALIFIED VETERANS AND MEMBERS OF READY RESERVE 
              AND NATIONAL GUARD.

    (a) In General.--Section 51(c)(4) of the Internal Revenue Code of 
1986 is amended by inserting ``(other than any individual described in 
subparagraph (B) or (J) of subsection (d)(1))'' after ``individual''.
    (b) Effective Date.--The amendment made by this section shall apply 
to individuals who begin work for the employer after December 31, 2011.

SEC. 4. RESCISSION OF UNSPENT FEDERAL FUNDS TO OFFSET LOSS IN REVENUES.

    (a) In General.--Notwithstanding any other provision of law, of all 
available unobligated funds, appropriated discretionary funds are 
hereby rescinded in such amounts as determined by the Director of the 
Office of Management and Budget such that the aggregate amount of such 
rescission equals the reduction in revenues to the Treasury by reason 
of the amendments made by sections 2 and 3.
    (b) Implementation.--The Director of the Office of Management and 
Budget shall determine and identify from which appropriation accounts 
the rescission under subsection (a) shall apply and the amount of such 
rescission that shall apply to each such account. Not later than 60 
days after the date of the enactment of this Act, the Director of the 
Office of Management and Budget shall submit a report to the Secretary 
of the Treasury and Congress of the accounts and amounts determined and 
identified for rescission under the preceding sentence.
    (c) Exception.--This section shall not apply to the unobligated 
funds of the Department of Veterans Affairs or the Social Security 
Administration.   
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