Jobs for Veterans Act of 2016

Bill: 114-hr-4660
Sponsor: full_name: Rep. King, Peter T. [R-NY-2]
Introduced: 2016-03-02
Policy area: Taxation
Subjects: Income tax credits

Veterans' education, employment, rehabilitation

Wages and earnings
Latest action: action_date: 2016-03-02
text: Referred to the House Committee on Ways and Means.

Summaries:
action_date: 2016-03-02
action_desc: Introduced in House
text: <p><strong>Jobs for Veterans Act of 2016</strong></p> <p>This bill amends the Internal Revenue Code to allow an increased work opportunity tax credit for employers who hire veterans who&nbsp;have been certified as discharged or released from active duty in the U.S. Armed Forces after September 11, 2001, and who begin work for&nbsp;the employer after December 31, 2015, and before January 1, 2020. This increased credit is in addition to any work opportunity tax credit allowed to a veteran with a service-connected disability.</p>

tv_txt: I 114th CONGRESS 2d Session H. R. 4660 IN THE HOUSE OF REPRESENTATIVES March 2, 2016 Mr. King of New York (for himself, Mr. Olson , Mr. Blum , Mr. Webster of Florida , Mr. Welch , and Mr. Valadao ) 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 allow an increased work opportunity credit with respect to recent veterans, and for other purposes.

1. Short title This Act may be cited as the Jobs for Veterans Act of 2016 . 2. Work opportunity credit for recent veterans (a) Work opportunity credit Section 51 of the Internal Revenue Code of 1986 is amended by adding at the end the following new subsection: (l) Special rules for veterans For purposes of this subpart— (1) In general In the case of an individual who is an applicable veteran who begins work for the employer after December 31, 2015, and before January 1, 2020, the following rules shall apply: (A) Applicable veteran Such individual shall be treated as a member of a targeted group. (B) Increased percentage Subsection (a) shall be applied by substituting 100 percent for 40 percent . (C) Wage limitation Paragraph (3) of subsection (b) shall be applied— (i) by substituting $5,000 for $6,000 , and (ii) without regard to the parenthetical therein. (D) Minimum employment periods Subparagraph (A) of subsection (i)(3) shall be applied by substituting 0 percent for 25 percent . (E) Disabled veterans In the case of such an individual who is a qualified veteran by reason of subsection (d)(3)(A)(ii), the credit determined with respect to such individual under the rules of this subsection shall be in addition to any credit allowable with respect to such individual under this section determined without regard to this subsection. (2) Applicable veteran The term applicable veteran means any veteran (as defined in subsection (d)(3)(B)) who is certified by the designated local agency as having been discharged or released from active duty in the Armed Forces of the United States after September 11, 2001. (3) Election to have subsection not apply A taxpayer may elect (at such time and in such form and manner as the Secretary shall prescribe) to have this subsection not apply with respect to an individual for any taxable year. . (b) Effective date The amendment made by subsection (a) shall apply to individuals who begin work for the employer after December 31, 2015.