Veterans Jobs Opportunity Act

This bill creates a tax credit for veteran-owned small businesses that start up in certain underserved areas. These businesses can claim a tax credit equal to 15% of their startup costs, up to $50,000 total. To qualify, the business must be owned by veterans or their spouses, be located in specific low-income or underutilized areas, and have made $5 million or less in the previous year or employed 50 or fewer full-time workers. The tax credit can only be used in the first two years the business operates, and the Treasury Inspector General must report to Congress about this program every four years.

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