US Congress House Bill 4473 (Prior Session Legislation)

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Sponsorship: Bipartisan Bill
Status: Introduced on November 28 2017 - 25% progression, died in committee
Action: 2017-11-28 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]

Veteran Entrepreneurs Act of 2017 This bill amends the Internal Revenue Code to allow a business-related tax credit of up to $400,000 for 25% of the franchise fees paid or incurred by an eligible veteran for the purchase of a franchise. The bill reduces the amount of such credit if the veteran does not own 100% of the stock or capital or profits interest of the franchisee. An "eligible veteran" is a person who served in the active military, naval, or air service; was discharged or released under conditions other than dishonorable; and who pays or incurs a franchise fee in connection with a franchise agreement with a franchisor. The veteran may elect to transfer the credit to an eligible franchisor in exchange for a discount in the franchise fee commensurate with the value of the credit. The Small Business Administration and the Department of Veterans Affairs must provide information about the tax credit allowed by this bill to veterans service organizations and veteran advocacy groups.

Veteran Entrepreneurs Act of 2017

Rep. Claudia Tenney [R-NY]	Rep. Julia Brownley [D-CA]	Rep. Joseph Crowley [D-NY]	Rep. Steve Chabot [R-OH]
Rep. Luis Correa [D-CA]	Rep. Dina Titus [D-NV]	Rep. Jimmy Panetta [D-CA]	Rep. David McKinley [R-WV]
Rep. Robert Wittman [R-VA]	Rep. Kevin Yoder [R-KS]	Rep. Amata Radewagen [R-AS]	Rep. Scott Peters [D-CA]
Rep. Bradley Byrne [R-AL]	Rep. Derek Kilmer [D-WA]	Sen. Martha McSally [R-AZ]	Rep. Ann Kuster [D-NH]
Rep. Suzanne Bonamici [D-OR]	Rep. Paul Cook [R-CA]	Rep. Nanette Barragan [D-CA]	Rep. Elizabeth Esty [D-CT]
Rep. Peter DeFazio [D-OR]	Rep. Trent Kelly [R-MS]	Rep. Walter Jones [R-NC]	Rep. Vicente Gonzalez [D-TX]
Rep. John Katko [R-NY]	Rep. Barbara Comstock [R-VA]	Sen. Ruben Gallego [D-AZ]	Rep. Tom O'Halleran [D-AZ]
Rep. Mike Thompson [D-CA]	Rep. Zoe Lofgren [D-CA]	Rep. Ralph Norman [R-SC]	Rep. Bruce Poliquin [R-ME]
Rep. Jared Polis [D-CO]	Rep. Seth Moulton [D-MA]

Date	Chamber	Action
2017-11-28	House	Referred to the House Committee on Ways and Means.
2017-11-28	House	Introduced in House

SB2950 (Related) 2018-05-24 - Read twice and referred to the Committee on Finance.

Type	Source
Summary	https://www.congress.gov/bill/115th-congress/house-bill/4473/all-info
Text	https://www.congress.gov/115/bills/hr4473/BILLS-115hr4473ih.pdf