Veterans Jobs Opportunity Act

This bill creates a new federal tax credit to help veterans start small businesses in underserved communities. It lets eligible owners claim 15% of their qualified start‑up costs, up to $50,000, for a maximum credit of $7,500. You have to choose (elect) to use the credit, and you can only use it during your first two tax years with normal, deductible business expenses.

• Who is affected: Veterans or their spouses who own and run a small business in an underserved community, as defined in the bill and by reference to the Small Business Act.
• What changes: You can take a 15% credit on up to $50,000 of start‑up costs; if you claim the credit for property you buy, you must reduce that property’s value for tax purposes by the amount of the credit (no double tax break).
• When: You may elect this credit only for your first two tax years with ordinary business expenses. Related businesses under common ownership are treated together for these limits.

Overall, this aims to lower upfront costs for veteran‑owned small businesses in areas that need more investment.