Bill 119 HR 1914, also known as the "Displaced Disaster Victims Work Opportunity Tax Credit Act," aims to amend the Internal Revenue Code of 1986 to provide a tax credit for businesses that hire individuals who have been displaced by natural disasters.
The bill specifically focuses on providing a work opportunity tax credit for employers who hire individuals who have been affected by disasters such as hurricanes, wildfires, floods, or other catastrophic events. This tax credit is designed to incentivize businesses to hire these individuals, who may be facing challenges in finding employment due to the impact of the disaster on their communities.
The tax credit provided by this bill would help offset the costs associated with hiring and training displaced disaster victims, making it more financially feasible for businesses to provide these individuals with job opportunities. By encouraging businesses to hire individuals who have been affected by disasters, the bill aims to support the economic recovery of communities that have been devastated by natural disasters.
Overall, Bill 119 HR 1914 seeks to provide assistance to displaced disaster victims by incentivizing businesses to hire them through the work opportunity tax credit. This legislation aims to support both the individuals who have been impacted by disasters and the communities that are working to rebuild and recover in the aftermath of these catastrophic events.