,i  #aad? ,,congress  #a/ ,session  ,h4 
,r4 #djci  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,novemb] #ag1 #bjae   
,ms4 ,adams 7= h]self1 ,ms4 ,judy ,*u ( 
,cali=nia1 ,ms4 ,kelly ( ,ill9ois1 ,mrs4
 ,lawr5ce1 ,mr4 ,payne1 ,mr4 ,takai1 &  
,ms4 ,velzquez7 introduc$ ! foll[+ bill2
 :i* 0 ref]r$ to ! ,committee on ,ways &
 ,means  ,a ,,bill  ,to am5d ! ,int]nal 
,rev5ue ,code ( #aihf to e/abli% a small
 bus9ess />t-up tax cr$it = vet]ans4    
#a4 ,%ort title ,?is ,act may be cit$ z 
! ,vet]an ,small ,bus9ess ,tax ,cr$it   
,act ( #bjae4  #b4 ,vet]an small bus9ess
 />t-up cr$it  7a7 ,9 g5]al ,subp>t ,d (
 "p ,,iv ( sub*apt] ,a ( *apt] #a ( !   
,int]nal ,rev5ue ,code ( #aihf is am5d$ 
by add+ at ! end ! foll[+ new section3  
#de,s4 ,vet]an small bus9ess />t-up     
cr$it  7a7 ,9 g5]al ,= purposes (       
section #ch1 9 ! case ( an applicable   
vet]an-own$ bus9ess :i* elects !        
application ( ?is section1 ! vet]an     
small bus9ess />t-up cr$it det]m9$ "u   
?is section = any taxable ye> is an     

am\nt equal to #ae p]c5t ( s mu* ( !    
qualifi$ />t-up exp5ditures ( ! taxpay] 
z does n exce$ #hj1jjj4  7b7 ,applicable
 vet]an-,own$ small bus9ess ,= purposes 
( ?is section-- 7#a7 ,9 g5]al ,! t]m    
applicable vet]an-own$ small bus9ess    
means a small bus9ess controll$ by "o or
 m qualifi$ vet]ans4  7#b7 ,qualifi$    
vet]an ,! t]m qualifi$ vet]an means any 
individual 7or ! sp\se or surviv+ sp\se 
( su* an individual7 :o-- 7,a7 has s]v$ 
on active duty 9 ! ,arm$ ,=ces ( !      
,unit$ ,/ates1 &  7,b7 :o has n be5     
dis*>g$ or releas$ f ! ,arm$ ,=ces ( !  
,unit$ ,/ates "u di%onorable conditions4
  7#c7 ,control ,! t]m controll$ means--
 7,a7 managem5t & op]ation ( ! daily    
bus9ess1 &--  7,b7  7i7 9 ! case ( a    
sole proprietor%ip1 sole own]%ip1  7ii7 
9 ! case ( a corporation1 own]%ip 7by   
vote or value7 ( n less ?an #ea p]c5t ( 
! /ock 9 su* corporation1 or  7iii7 9 ! 
case ( a p>tn]%ip or jo9t v5ture1       
own]%ip ( n less ?an #ea p]c5t ( !      
pr(its int]e/s or capital int]e/s 9 su* 

p>tn]%ip or jo9t v5ture4  7#d7 ,small   
bus9ess ,! t]m small bus9ess means1 )   
respect to any taxable ye>1 any p]son   
engag$ 9 a trade or bus9ess 9 ! ,unit$  
,/ates if--  7,a7 ! gross receipts ( su*
 p]son = ! prec$+ taxable ye> did n     
exce$ #e1jjj1jjj1 or  7,b7 9 ! case ( a 
p]son to :i* subp>agraph 7,a7 does n    
apply1 su* p]son employ$ n m ?an #ajj   
full-"t employees dur+ ! prec$+ taxable 
ye>4  ,= purposes ( subp>agraph 7,b71 an
 employee %all be consid]$ full-"t if   
su* employee is employ$ at lea/ #cj h\rs
 p] week = #bj or m cal5d> weeks 9 !    
taxable ye>4  7c7 ,qualifi$ />t-,up     
exp5ditures ,= purposes ( ?is section-- 
7#a7 ,9 g5]al ,! t]m qualifi$ />t-up    
exp5ditures means--  7,a7 any />t-up    
exp5ditures 7z def9$ 9 section          
#aie7;c771 or  7,b7 any am\nts paid or  
incurr$ dur+ ! taxable ye> = ! pur*ase  
or lease ( real prop]ty1 or ! pur*ase ( 
p]sonal prop]ty1 plac$ 9 s]vice dur+ !  
taxable ye> & us$ 9 ! active conduct ( a
 trade or bus9ess4  7d7 ,special rules  

,= purposes ( ?is section-- 7#a7 ,ye> ( 
election ,! taxpay] may elect !         
application ( ?is section only = ! fir/ 
#b taxable ye>s = :i* ord9>y & necess>y 
exp5ses paid or incurr$ 9 c>ry+ on su*  
trade or bus9ess are all[able z a       
d$uction by ! taxpay] "u section #afb4  
7#b7 ,controll$ gr\ps & common control  
,all p]sons treat$ z a s+le employ] "u  
subsections 7a7 & 7b7 ( section #eb %all
 be treat$ z #a p]son4  7#c7 ,no d\ble  
b5efit ,if a cr$it is det]m9$ "u ?is    
section ) respect to any prop]ty1 !     
basis ( su* prop]ty %all be r$uc$ by !  
am\nt ( ! cr$it attributable to su*     
prop]ty4  4  7b7 ,cl]ical am5dm5t ,!    
table ( sections = subp>t ,d ( "p ,,iv (
 sub*apt] ,a ( *apt] #a ( su* ,code is  
am5d$ by add+ at ! end ! foll[+ new     
item3  ,sec4 #de,s4 ,vet]an small       
bus9ess />t-up cr$it4  4  7c7 ,made "p (
 g5]al bus9ess cr$it ,section #ch7;b7 ( 
su* ,code is am5d$ by /rik+ plus at !   
end ( p>agraph 7#ce71 by /rik+ ! p]iod  
at ! end ( p>agraph 7#cf7 & ins]t+ 1    

plus1 & by add+ at ! end ! foll[+ new   
p>agraph3  7#cg7 ! vet]an small bus9ess 
/>t-up cr$it det]m9$ "u section #de,s4  
4  7d7 ,effective date ,! am5dm5ts made 
by ?is section %all apply to taxable    
ye>s beg9n+ aft] ,decemb] #ca1 #bjaf4