H.R. 2330House110th Congress (2007-2009)In Committee

VETS Act of 2007

Introduced May 15, 2007

Legislative Activity

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HouseIntro Referral Latest Action

Referred to the House Committee on Ways and Means.

May 15, 2007

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HouseIntro Referral

Introduced in House

May 15, 2007

HouseIntro Referral

Referred to the House Committee on Ways and Means.

May 15, 2007

Floor Debate

24 members

What members said about H.R. 2330 on the floor

8 Republicans16 Democrats
Daniel E. Lungren
Rep. Daniel E. LungrenR-CA-3 · Apr 24, 2008

Mr. Chairman, I thank the gentleman from Mississippi, and before we begin our debate on the Coast Guard Authorization Act for 2008, I yield myself such time as I may consume for the purposes of a…

Sheila Jackson Lee
Rep. Sheila Jackson LeeD-TX-18 · Apr 24, 2008

Mr. Chairman, let me thank both Chairman Oberstar and of course Chairman Thompson and Subcommittee Chair Elijah Cummings on this Coast Guard bill that all of us have worked on. As the Chair of the…

James L. Oberstar
Rep. James L. OberstarD-MN-8 · Apr 24, 2008

I would like to inquire how much time remains on each side. Mr. Chairman, I reserve the balance of my time. Mr. Chairman, could the gentleman yield 15 seconds? Both gentlemen made a splendid…

Steven C. LaTourette
Rep. Steven C. LaTouretteR-OH-14 · Apr 24, 2008

Mr. Chairman, at this time, it is my pleasure to yield 3 minutes to a gentleman I mentioned in my opening remarks, the gentleman from Louisiana (Mr. Boustany), who has been a true leader in the House…

Anthony D. Weiner
Rep. Anthony D. WeinerD-NY-9 · Apr 24, 2008

Mr. Chairman, the House has under consideration the bill H.R. 2830, the Coast Guard Reauthorization Act of 2007. Mr. Chairman, I want to highlight an amendment that I offered which has been included…

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Gordon H. Smith
Sen. Gordon H. SmithR-OR · Oct 1, 2007

I wish today to denounce the savage actions of Burma's military government. During this past week, a familiar pageantry of riot police and soldiers deployed to stop the peaceful demonstrations of…

Elijah E. Cummings
Rep. Elijah E. CummingsD-MD-7 · Apr 24, 2008

I want to thank the chairman for yielding. Mr. Chairman, I support the amendment that you have offered, and I thank you again for your leadership on the Coast Guard authorization and all of the…

Neil Abercrombie
Rep. Neil AbercrombieD-HI-1 · Apr 24, 2008

Mr. Chairman, today I rise in support of H.R. 2830, the Coast Guard Authorization Act of 2008. Among the many important provisions of this bill is one that is particularly needed to help ensure that…

Bennie G. Thompson
Rep. Bennie G. ThompsonD-MS-2 · Apr 24, 2008

Mr. Chairman, I believe the gentleman from California wants to engage in a colloquy, so I reserve the balance of my time. I thank the gentleman for yielding. Mr. Chairman, Petty Officer Bruckenthal…

Charles W. Boustany, Jr.
Rep. Charles W. Boustany, Jr.R-LA-7 · Apr 24, 2008

I want to thank my colleague for yielding time and for his work with me on an amendment to this bill that I think will improve the bill. I also want to thank the chairman and ranking member of the…

Barbara Lee
Rep. Barbara LeeD-CA-9 · Apr 24, 2008

Mr. Chairman, I rise today in support of H.R. 2830, the Coast Guard Reauthorization Act of 2007, which makes significant strides in supporting the invaluable work of the United States Coast Guard. I…

Ted Poe
Rep. Ted PoeR-TX-2 · Apr 24, 2008

Madam Chairman, I thank the gentlelady from California for yielding, and I want to thank Ms. Matsui and her brave constituent, Laurie Dishman, for bringing this very important issue before Congress.…

Gus M. Bilirakis
Rep. Gus M. BilirakisR-FL-9 · Apr 24, 2008

Madam Chairman, I have an amendment at the desk made in order under the rule. I yield myself as much time as I may consume. I rise to offer an amendment to the Coast Guard Authorization Act that will…

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Loretta Sanchez
Rep. Loretta SanchezD-CA-47 · Apr 24, 2008

Mr. Chairman, I thank both my chairmen for the time. I rise today in support of H.R. 2830, the Coast Guard Reauthorization Act. As the chairwoman of the Homeland Security Subcommittee on Border,…

Ileana Ros-Lehtinen
Rep. Ileana Ros-LehtinenR-FL-18 · Apr 24, 2008

Mr. Chairman, I rise in strong support of this Coast Guard Authorization Bill being considered on the floor today. I have the unique pleasure of representing over 265 miles of pristine Florida…

John Shimkus
Rep. John ShimkusR-IL-19 · Apr 24, 2008

I also want to commend the chairman, Mr. Oberstar, who is really interested in transportation issues, a good man of heart, and I applaud your leadership. Mr. Chairman, this authorization bill brings…

John D. Dingell
Rep. John D. DingellD-MI-15 · Apr 24, 2008

Mr. Chairman, I rise today in support of H.R. 2830, the Coast Guard Authorization Act of 2007. This bill has many provisions which will improve homeland security, ensure safe navigation and enhance…

Barbara Boxer
Sen. Barbara BoxerD-CA · Oct 1, 2007

Mr. President, I support the resolution offered by Senator Kerry on the current crisis in Burma. In his April 16, 1963, letter from a jail cell in Birmingham, AL, Dr. King wrote that ``freedom is…

Jerry McNerney
Rep. Jerry McNerneyD-CA-11 · Apr 24, 2008

Madam Chairman, I have an amendment at the desk. Madam Chairman, since the terrible events of September 11, 2001, we have relied heavily on the brave men and women of the U.S. Coast Guard to be our…

Brian Baird
Rep. Brian BairdD-WA-3 · Apr 24, 2008

I thank the Chairman for the time and applaud him for his leadership of the Transportation and Infrastructure Committee. I also want to thank him and Subcommittee Chairman Cummings for their work in…

Doris O. Matsui
Rep. Doris O. MatsuiD-CA-5 · Apr 24, 2008

Mr. Chairman, I have an amendment at the desk. Mr. Chairman, I yield myself such time as I might consume. Over 10 million Americans travel on cruise lines each year. Unfortunately, many are unaware…

Steve Israel
Rep. Steve IsraelD-NY-2 · Apr 24, 2008

Mr. Chairman, I would like to rise in support of language I included in the Coast Guard Reauthorization Act. I have consistently fought for boating safety for the last three years in memory of my…

Nydia M. Velázquez
Rep. Nydia M. VelázquezD-NY-12 · Apr 24, 2008

Mr. Chairman, I rise in support of important language in Chairman Oberstar's manager's amendment to H.R. 2830, the Coast Guard Reauthorization Act. This amendment is critical for my constituents who…

Corrine Brown
Rep. Corrine BrownD-FL-3 · Apr 24, 2008

I want to start out by thanking Chairmen Oberstar and Cummings and Ranking Members Mica and LaTourette for all of their hard work on this bill. We have given the Coast Guard so much responsibility,…

Bill Text

Latest available legislative text

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Introduced in HouseIssued May 15, 2007

I

110th CONGRESS

1st Session

H. R. 2330

IN THE HOUSE OF REPRESENTATIVES

May 15, 2007

Mr. McCotter (for himself, Mr. Carter, Mr. Pearce, Mr. Renzi, Mr. Porter, Mrs. Miller of Michigan, Mr. Shuster, Mr. Jones of North Carolina, Mr. Manzullo, Mr. Paul, and Mrs. Myrick) introduced the following bill; which was referred to the Committee on Ways and Means

A BILL

To amend the Internal Revenue Code of 1986 to allow employers a credit against income tax for hiring veterans.

1.

Short title

This Act may be cited as the Veterans’ Employment Transition Support Act of 2007 or the VETS Act of 2007.

2.

Credit for employers hiring veterans

(a)

In general

Subpart D of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 (relating to business-related credits) is amended by adding at the end the following new section:

45O.

Credit for employers hiring veterans

(a)

General Rule

For purposes of section 38, the military service personnel employment credit for the taxable year shall be equal to—

(1)

in the case of a qualified veteran, 40 percent of the qualified first-year wages with respect to such veteran for such year, and

(2)

in the case of a qualified disabled veteran, the applicable percentage of the qualified first-year wages with respect to such veteran for such year.

(b)

Veteran taken into account only once

No credit shall be determined under subsection (a) with respect to any veteran unless such veteran has elected (in such form and manner as the Secretary may require) to have his qualified first-year wages taken into account with respect to the employer paying such wages. A veteran may make only one election under this subsection. The Secretary shall require such reporting as the Secretary determines is necessary to carry out the purposes of this subsection.

(c)

Qualified wages

For purposes of this section—

(1)

In general

The term qualified wages means, with respect to any individual, the wages paid or incurred by the employer during the taxable year to such individual.

(2)

Qualified first-year wages

The term qualified first-year wages means, with respect to any individual, qualified wages attributable to service rendered during the 1-year period beginning with the day the individual begins work for the employer.

(3)

Wages

The term wages has the meaning given such term by section 51(c), without regard to paragraph (4) thereof.

(d)

Qualified veteran; hiring date

For purposes of this section—

(1)

Qualified veteran

The term qualified veteran means any individual who is certified by the designated local agency (as defined in section 51(d)(11)) as being a veteran (as defined in section 51(d)(3)(B)).

(2)

Hiring date

The term hiring date has the meaning given such term by section 51(d).

(e)

Qualified disabled veteran; applicable percentage

(1)

In general

The term qualified disabled veteran means any qualified veteran who is certified by the designated local agency (as defined in section 51(d)(11)) as having a disability that has been determined under the laws administered by the Secretary of Veterans Affairs to be service-connected and that is rated by such Secretary (as of the date of the certification) as 10 percent or more disabling.

(2)

Applicable percentage

The term applicable percentage means the percentage determined in accordance with the following table:

Percentage of disability:Applicable percentage:
At least 10 but not over 2041
At least 20 but not over 3042
At least 30 but not over 4043
At least 40 but not over 5044
At least 50 but not over 6045
At least 60 but not over 7046
At least 70 but not over 80 47
At least 80 but not over 9048
At least 90 but not over 10049
100 percent50
(f)

Certain rules To apply

Rules similar to the rules of section 52, and subsections (d)(11), (f), (g), (i) (as in effect on the day before the date of the enactment of the Taxpayer Relief Act of 1997), (j), and (k) of section 51, shall apply for purposes of this section.

(g)

Coordination with work opportunity credit

The credit allowed under this section with respect to any qualified first-year wages shall be in addition to any credit allowed under section 51 with respect to such wages.

.

(b)

Credit To be part of general business credit

Subsection (b) of section 38 of such Code is amended by striking plus at the end of paragraph (30), by striking the period at the end of paragraph (31) and inserting , plus, and by adding at the end the following new paragraph:

(32)

the military service personnel employment credit determined under section 45O(a).

.

(c)

Technical amendments

(1)

Clause (iii) of section 41(b)(2)(D) of such Code is amended to read as follows:

(iii)

Exclusion for wages to which employment credits apply

The term wages shall not include any amount taken into account in determining the credit under section 45O(a) or 51(a).

.

(2)

Subparagraph (B) of section 45A(b)(1) of such Code is amended to read as follows:

(B)

Coordination with other employment credits

The term qualified wages shall not include wages attributable to service rendered during the 1-year period beginning with the day the individual begins work for the employer if any portion of such wages is taken into account in determining the credit under section 45O or 51.

.

(3)

Subsection (a) of section 280C of such Code is amended by inserting 45O(a), after 45A(a),.

(4)

Paragraph (3) of section 1396(c) of such Code is amended to read as follows:

(3)

Coordination with other employment credits

(A)

In general

The term qualified wages shall not include wages taken into account in determining the credit under section 45O or 51.

(B)

Coordination with paragraph (2)

The $15,000 amount in paragraph (2) shall be reduced for any calendar year by the amount of wages paid or incurred during such year which are taken into account in determining the credits under sections 45O and 51.

.

(d)

Clerical amendment

The table of sections for subpart D of part IV of subchapter A of chapter 1 of such Code is amended by adding at the end the following new item:

Sec. 45O. Credit for employers hiring veterans.

.

(e)

Effective date

The amendments made by this section shall apply to individuals who begin work for the employer after the date of the enactment of this Act.