Section 1 Short title
This Act may be cited as the “Veteran Employment Recovery Act”.
Veteran Employment Recovery Act
A BILL
To amend the Internal Revenue Code of 1986 to temporarily increase the work opportunity tax credit as applied to certain veterans.
Sec. 2 Temporary increase in Work Opportunity Credit amounts for certain veterans
In general— Section 51(b) of the Internal Revenue Code of 1986 is amended by adding at the end the following new paragraph:
“(4) Special rule for taxable year 2021—In the case of a taxable year beginning in 2021, paragraph 3 shall be applied with respect to an unemployed veteran by substituting “$12,000” for “$6,000” and by substituting “$28,000” for “14,000”.”
Effective date— The amendment made by this section shall apply to taxable years beginning after December 31, 2020.