[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 10146 Introduced in House (IH)]
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118th CONGRESS
2d Session
H. R. 10146
To amend the Internal Revenue Code of 1986 to allow the work
opportunity credit to small businesses which hire individuals who are
members of the Ready Reserve or National Guard, and for other purposes.
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IN THE HOUSE OF REPRESENTATIVES
November 15, 2024
Ms. Plaskett introduced the following bill; which was referred to the
Committee on Ways and Means
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A BILL
To amend the Internal Revenue Code of 1986 to allow the work
opportunity credit to small businesses which hire individuals who are
members of the Ready Reserve or National Guard, and for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Hire A Hero Act of 2024''.
SEC. 2. WORK OPPORTUNITY CREDIT TO SMALL BUSINESSES FOR HIRING MEMBERS
OF READY RESERVE OR NATIONAL GUARD.
(a) In General.--Section 51(d)(1) of the Internal Revenue Code of
1986 is amended by striking ``or'' at the end of subparagraph (I), by
striking the period at the end of subparagraph (J) and inserting ``,
or'', and by adding at the end the following new subparagraph:
``(K) in the case of an eligible employer (as
defined in section 408(p)(2)(C)(i)), an individual who
is a member of--
``(i) the Ready Reserve (as described in
section 10142 of title 10, United States Code),
or
``(ii) the National Guard (as defined in
section 101(c)(1) of title 10, United States
Code).''.
(b) Effective Date.--
(1) In general.--The amendment made by this section shall
apply to wages paid or incurred after the date of the enactment
of this Act in taxable years ending after such date.
(2) Current employees covered by credit.--For purposes of
applying section 51 of the Internal Revenue Code of 1986,
individuals described in section 51(d)(1)(K) of such Code, as
added by this section, who are employed by an eligible employer
(as defined in section 408(p)(2)(C)(i) of such Code) on the
date of the enactment of this Act shall be treated as beginning
work for such employer on such date.
SEC. 3. PERMANENT EXTENSION OF WORK OPPORTUNITY CREDIT FOR EMPLOYERS
HIRING QUALIFIED VETERANS AND MEMBERS OF READY RESERVE
AND NATIONAL GUARD.
(a) In General.--Section 51(c)(4) of the Internal Revenue Code of
1986 is amended by inserting ``(other than any individual described in
subparagraph (B) or (K) of subsection (d)(1))'' after ``individual''.
(b) Effective Date.--The amendment made by this section shall apply
to individuals who begin work for the employer after the date of the
enactment of this Act.
SEC. 4. TREATMENT OF POSSESSIONS.
(a) Payments to Possessions.--
(1) Mirror code possessions.--The Secretary of the Treasury
shall pay to each possession of the United States with a mirror
code tax system amounts equal to the loss to that possession by
reason of the amendments made by this Act. Such amounts shall
be determined by the Secretary of the Treasury based on
information provided by the government of the respective
possession of the United States.
(2) Other possessions.--The Secretary of the Treasury shall
pay to each possession of the United States which does not have
a mirror code tax system the amount estimated by the Secretary
of the Treasury as being equal to the loss to that possession
that would have occurred by reason of the amendments made by
this Act if a mirror code tax system had been in effect in such
possession. The preceding sentence shall not apply with respect
to any possession of the United States unless such possession
establishes to the satisfaction of the Secretary that the
possession has implemented (or, at the discretion of the
Secretary, will implement) an income tax benefit which is
substantially equivalent to the income tax credit in effect
after the amendments made by this Act.
(b) Coordination With Credit Allowed Against United States Income
Taxes.--The credit allowed against United States income taxes for any
taxable year under the amendments made by this Act to section 51 of the
Internal Revenue Code of 1986 to any person shall be reduced by the
amount of any credit (or other tax benefit described in subsection
(a)(2)) allowed to such person against income taxes imposed by the
possession of the United States by reason of this section for such
taxable year.
(c) Definitions and Special Rules.--
(1) Possession of the united states.--For purposes of this
section, the term ``possession of the United States'' shall
include such possessions as are specified in section 937(a)(1)
of the Internal Revenue Code of 1986.
(2) Mirror code tax system.--For purposes of this section,
the term ``mirror code tax system'' means, with respect to any
possession of the United States, the income tax system of such
possession if the income tax liability of the residents of such
possession under such system is determined by reference to the
income tax laws of the United States as if such possession were
the United States.
(3) Treatment of payments.--For purposes of section
1324(b)(2) of title 31, United States Code, the payments under
subsection (a) shall be treated in the same manner as a refund
due from credit provisions described in such section.
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