,,ii  #aae? ,,congress  #b;d ,session   
,s4 #biej  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,may #bd1 #bjah,mr4    
,casey introduc$ ! foll[+ bill2 :i* 0   
read twice & ref]r$ to ! ,committee on  
,f9ance  ,a ,,bill  ,to am5d ! ,int]nal 
,rev5ue ,code ( #aihf to all[ cr$its = !
 e/abli%m5t ( fran*ises by vet]ans4  #a4
 ,%ort title ,?is ,act may be cit$ z !  
,vet]an ,entrepr5eurs ,act ( #bjah4  #b4
 ,vet]ans fran*ise fee 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,t4 ,vet]ans    
fran*ise fee cr$it  7a7 ,vet]ans        
fran*ise fee cr$it  7#a7 ,9 g5]al ,=    
purposes ( section #ch1 ! vet]ans       
fran*ise fee cr$it det]m9$ "u ?is       
section = ! taxable ye> is an am\nt     
equal to #be p]c5t ( ! qualifi$ fran*ise
 fees paid or incurr$ by a vet]an dur+ !
 taxable ye>4  7#b7 ,limitation ,! am\nt
 all[$ z a cr$it "u p>agraph 7#a7 )     
respect to ! pur*ase ( any fran*ise %all

 n exce$ #ajj1jjj4  7b7 ,r$uction :]e   
fran*ise n #ajj p]c5t vet]an-,own$ ,9 ! 
case ( any fran*ise 9 :i* vet]ans d n   
own #ajj p]c5t ( ! /ock or ( ! capital  
or pr(its int]e/s ( ! fran*ise1 ! cr$it 
"u subsection 7a7 %all be ! cr$it am\nt 
det]m9$ "u su* subsection1 multipli$ by 
! same ratio z--  7#a7 ! /ock or capital
 or pr(its int]e/s ( ! fran*ise held by 
vet]ans1 be>s  7#b7 to ! total /ock or  
capital or pr(its int]e/s ( ! fran*isee4
  ,= purposes ( ?is subsection1 ! sp\se 
( a vet]an %all be treat$ z a vet]an4   
7c7 ,qualifi$ fran*ise fee ,= purposes (
 ?is section1 ! t]m qualifi$ fran*ise   
fee means any initial fee requir$ by !  
fran*isor :5 ent]+ into a fran*ise      
agreem5t ) a vet]an z ! fran*isee4  7d7 
,o!r def9itions ,= purposes ( ?is       
section1 ! t]ms fran*ise1 fran*isee1    
fran*isor1 & initial fee h ! mean+s giv5
 su* t]ms 9 "p #dcf ( title #af1 ,code (
 ,f$]al ,regulations 7z 9 effect on     
,janu>y #a1 #bjah74  7e7 ,vet]an ,! t]m 
vet]an has ! mean+ giv5 su* t]m by      

section #aja ( title #ch1 ,unit$ ,/ates 
,code4  7f7 ,transf] ( cr$it  7#a7 ,9   
g5]al ,) respect to ! cr$it all[$ "u    
subsection 7a7 = any taxable ye>1 9 !   
case ( a vet]an :o--  7,a7 has receiv$ a
 r$uction 9 ! am\nt ( ! qualifi$        
fran*ise fee o!rwise requir$ by !       
fran*isor1 &  7,b7 elects application ( 
?is subsection = su* taxable ye> )      
respect to any portion ( su* cr$it :i*  
is comm5surate ) ! am\nt ( ! r$uction   
describ$ 9 subp>agraph 7,a71  !         
fran*isor1 & n ! vet]an1 %all be treat$ 
z ! taxpay] = purposes ( ?is title )    
respect to su* portion ( ! cr$it4  7#b7 
,prohibition ,a fran*isor may n require 
a vet]an to elect application ( ?is     
subsection z a condition = ent]+ into a 
fran*ise agreem5t4  7g7 ,election ,?is  
section %all n apply to a taxpay] = any 
taxable ye> if su* taxpay] elects to h  
?is section n apply = su* taxable ye>4  
4  7b7 ,cr$it ,to be "p ( g5]al bus9ess 
cr$it ,section #ch7;b7 ( ! ,int]nal     
,rev5ue ,code ( #aihf is am5d$ by /rik+ 

plus at ! end ( p>agraph 7#cf71 by /rik+
 ! p]iod at ! end ( p>agraph 7#cg7 &    
ins]t+ 1 plus1 & by add+ at ! end !     
foll[+ new p>agraph3  7#ch7 ! vet]ans   
fran*ise fee cr$it det]m9$ "u section   
#de,t7a74  4  7c7 ,cl]ical am5dm5t ,!   
table ( sections = subp>t ,d ( "p ,,iv (
 sub*apt] ,a ( *apt] #a ( ! ,int]nal    
,rev5ue ,code ( #aihf is am5d$ by add+  
at ! end ! foll[+ new item3  ,sec4      
#de,t4 ,vet]ans fran*ise fee cr$it4  4  
7d7 ,effective date ,! am5dm5ts made by 
?is section %all apply to taxable ye>s  
end+ aft] ,decemb] #ca1 #bjah4  #c4     
,publication ( in=mation by ,dep>tm5t ( 
,vet]ans ,affairs & ,small ,bus9ess     
,adm9i/ration ,! ,adm9i/rator ( ! ,small
 ,bus9ess ,adm9i/ration & ! ,secret>y ( 
,vet]ans ,affairs %all publicize 9      
mail+s & bro*ures s5t to vet]ans s]vice 
organizations & vet]an advocacy gr\ps   
in=mation reg>d+ disc\nt$ fran*ise fees 
"u section #de,t ( ! ,int]nal ,rev5ue   
,code ( #aihf & o!r in=mation ab\t !    
program e/abli%$ "u am5dm5ts made by ?is

 ,act4