HR2801-119

2. Work opportunity credit for veterans Section 51(a) of the Internal Revenue Code of 1986 is amended by striking equal to and all that follows and inserting the following: equal to— in the case of a qualified veteran, 50 percent of the qualified first-year wages for such year, and in all other cases, 40 percent of the qualified first-year wages for such year. Section 51(b)(3) of such Code is amended— by striking $12,000 and inserting $18,000, by striking $14,000 and inserting $21,000, and by striking $24,000 and inserting $36,000. Section 51(i)(3)(A) of such Code is amended by striking employer and all that follows and inserting the following: employer— subsection (a)(1) shall be applied by substituting 25 percent for 50 percent, and subsection (a)(2) shall be applied by substituting 25 percent for 40 percent. 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. equal to—(1)in the case of a qualified veteran, 50 percent of the qualified first-year wages for such year, and(2)in all other cases, 40 percent of the qualified first-year wages for such year.. employer—(i)subsection (a)(1) shall be applied by substituting 25 percent for 50 percent, and(ii)subsection (a)(2) shall be applied by substituting 25 percent for 40 percent..