Bill > HR186

Introduced Session

To amend the Internal Revenue Code of 1986 to establish a small business start-up tax credit for veterans creating businesses in underserved communities. This bill allows a new business-related tax credit for the start-up expenses of a veteran-owned small business in an underserved community. The allowable amount of such credit is 15% of start-up expenditures that do not exceed $80,000. To be eligible for the credit, the small business must (1) be owned and controlled by one or more veterans or spouses of veterans, and (2) have a principal place of business in an underserved community. An "underserved community" is any area located within (1) a HUBZone (as defined by the Small Business Act), (2) an empowerment zone or an enterprise community, (3) an area of low income or moderate income (as recognized by the Federal Financial Institutions Examination Council), or (4) a county with persistent poverty (as classified by the Economic Research Service of the Department of Agriculture).

AI Summary

Committee Categories

Al Lawson (D)*,  Sanford Bishop (D),  Anthony Brown (D),  Julia Brownley (D),  G. Butterfield (D),  Tony Cárdenas (D),  Kathy Castor (D),  Yvette Clarke (D),  Steve Cohen (D),  Lou Correa (D),  Adriano Espaillat (D),  Tulsi Gabbard (D),  Ruben Gallego (D),  Vicente Gonzalez (D),  Alcee Hastings (D),  Sheila Jackson-Lee (D),  Hank Johnson (D),  Andy Kim (D),  Raja Krishnamoorthi (D),  Ann Kuster (D),  Conor Lamb (D),  Sean Maloney (D),  Jim McGovern (D),  Grace Napolitano (D),  Donald Norcross (D),  Eleanor Holmes Norton (D),  Frank Pallone (D),  Donald Payne (D),  Lucille Roybal-Allard (D),  Bobby Rush (D),  Tim Ryan (D),  Jan Schakowsky (D),  Albio Sires (D),  Elissa Slotkin (D),  Darren Soto (D),  Lauren Underwood (D),  Debbie Wasserman Schultz (D),  Frederica Wilson (D), 

Referred to the House Committee on Ways and Means. (on 01/03/2019)

Official Document