To amend the Internal Revenue Code of 1986 to establish a small business start-up tax credit for veterans creating businesses in underserved communities.

Bill 119 HR 1298, also known as the Small Business Start-Up Tax Credit for Veterans Act, aims to amend the Internal Revenue Code of 1986 to provide a tax credit for veterans who are starting businesses in underserved communities. The bill is designed to support veterans in their entrepreneurial endeavors and encourage economic growth in areas that may be lacking in business development.

Under this legislation, eligible veterans would be able to claim a tax credit when starting a small business in an underserved community. The tax credit would provide financial assistance to veterans as they navigate the challenges of starting a new business, such as securing funding and resources.

The bill emphasizes the importance of supporting veterans who have served their country and are now looking to contribute to their communities through entrepreneurship. By incentivizing veterans to start businesses in underserved areas, the legislation aims to create jobs, stimulate economic growth, and improve the overall well-being of these communities. Overall, Bill 119 HR 1298 seeks to empower veterans to pursue their entrepreneurial dreams while also addressing the economic needs of underserved communities. It represents a bipartisan effort to support veterans and promote economic development in areas that may benefit from increased business activity.