Veteran Employment Recovery Act

I 117TH CONGRESS 1ST SESSION H. R. 3582 To amend the Internal Revenue Code of 1986 to temporarily increase the work opportunity tax credit as applied to certain veterans. IN THE HOUSE OF REPRESENTATIVES MAY 28, 2021 Mr. FALLON (for himself, Mr. JACKSON, Mr. VEASEY, and Mr. VELA) intro- duced the following bill; which was referred to the Committee on Ways and Means A BILL To amend the Internal Revenue Code of 1986 to temporarily increase the work opportunity tax credit as applied to certain veterans. Be it enacted by the Senate and House of Representa- 1 tives of the United States of America in Congress assembled, 2 SECTION 1. SHORT TITLE. 3 This Act may be cited as the ‘‘Veteran Employment 4 Recovery Act’’. 5 VerDate Sep 11 2014 06:49 Jun 22, 2021 Jkt 019200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\H3582.IH H3582 kjohnson on DSK79L0C42PROD with BILLS 2 •HR 3582 IH SEC. 2. TEMPORARY INCREASE IN WORK OPPORTUNITY 1 CREDIT AMOUNTS FOR CERTAIN VETERANS. 2 (a) IN GENERAL.—Section 51(b) of the Internal Rev- 3 enue Code of 1986 is amended by adding at the end the 4 following new paragraph: 5 ‘‘(4) SPECIAL RULE FOR TAXABLE YEAR 2021.— 6 In the case of a taxable year beginning in 2021, 7 paragraph 3 shall be applied with respect to an un- 8 employed veteran by substituting ‘$12,000’ for 9 ‘$6,000’ and by substituting ‘$28,000’ for 10 ‘14,000’.’’. 11 (b) EFFECTIVE DATE.—The amendment made by 12 this section shall apply to taxable years beginning after 13 December 31, 2020. 14 Æ VerDate Sep 11 2014 06:49 Jun 22, 2021 Jkt 019200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6301 E:\BILLS\H3582.IH H3582 kjohnson on DSK79L0C42PROD with BILLS