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US SB2443

Bill

Official Source

Status

Introduced

7/24/2025

Primary Sponsor

Jacky Rosen

Click for details

Origin

Senate

119th Congress

AI Summary

  • Creates a 15% tax credit on up to $50,000 in qualified start-up expenditures for veteran-owned small businesses located in underserved communities
  • Eligible businesses must be owned and controlled (greater than 50% ownership) by veterans or spouses of veterans, with the owner actively involved in operations
  • Qualifying underserved communities include HUBZones, empowerment zones, low/moderate income areas, and counties with persistent poverty
  • Small businesses must have gross receipts under $5,000,000 or no more than 50 full-time employees; credit can only be claimed during the first 2 taxable years of operation
  • Treasury Inspector General for Tax Administration required to evaluate the credit's success and accountability every 4 years

Legislative Description

Veterans Jobs Opportunity Act

Taxation

Last Action

Read twice and referred to the Committee on Finance.

7/24/2025

Committee Referrals

Finance7/24/2025

Full Bill Text

No bill text available