US Congress Senate Bill 2950 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on May 24 2018 - 25% progression, died in committee
Action: 2018-05-24 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]

Veteran Entrepreneurs Act of 2018 This bill amends the Internal Revenue Code to allow a business-related tax credit of up to $100,000 for 25% of the franchise fees paid or incurred by a 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 of the capital or profits interest of the franchisee. The veteran may elect to transfer the credit to a 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 2018

Sen. Robert Casey [D-PA]

Date	Chamber	Action
2018-05-24	Senate	Read twice and referred to the Committee on Finance.

HB4473 (Related) 2017-11-28 - Referred to the House Committee on Ways and Means.

Type	Source
Summary	https://www.congress.gov/bill/115th-congress/senate-bill/2950/all-info
Text	https://www.congress.gov/115/bills/s2950/BILLS-115s2950is.pdf