Bill > HR1914

This bill amends the Internal Revenue Code to expand the Work Opportunity Tax Credit (WOTC), a program that provides tax incentives to employers who hire individuals from certain targeted groups. Specifically, the bill creates a new category of eligible workers called "displaced disaster victims" - individuals who have lost their primary residence or employment due to a major disaster declared by the President after January 1, 2024. To qualify, a person must be certified by a local agency as having lived or worked in a disaster zone that became uninhabitable or inoperable, and be currently unemployed. The tax credit is temporarily available for hiring such individuals within one year of the disaster's incident period, with a limitation that if the new job is outside the disaster zone, the employee cannot work more than 29 hours per week to qualify for the credit. The bill defines key terms like "qualified disaster zone" and "incident period" and specifies that the provisions will apply to individuals beginning work on or after January 1, 2024. The legislation is also known as the "HIRE CREDIT Act" (Helping Increase Realtime Employment for Communities Recovering from Emergency Disasters for an Interim Time Act), and it aims to provide economic support to workers and communities impacted by major disasters.

Budget and Finance

https://www.congress.gov/bill/119th-congress/house-bill/1914/all-info