< Back to S. 600 (103rd Congress, 1993–1994)

Text of A bill to amend the Internal Revenue Code of 1986 to extend and modify the targeted jobs credit.

...credit.

This bill was introduced on March 17, 1993, in a previous session of Congress, but was not enacted. The text of the bill below is as of Mar 17, 1993 (Introduced).

Source: GPO

S 600 IS

103d CONGRESS

1st Session

S. 600

To amend the Internal Revenue Code of 1986 to extend and modify the targeted jobs credit.

IN THE SENATE OF THE UNITED STATES

March 17 (legislative day, MARCH 3), 1993

Mr. BOREN (for himself, Mr. PACKWOOD, Mr. BAUCUS, Mr. DANFORTH, Mr. PRYOR, Mr. GRASSLEY, Mr. RIEGLE, Mr. DASCHLE, Mr. CONRAD, Mr. SARBANES, Mr. SIMON, Mr. THURMOND, Mr. INOUYE, Mr. LIEBERMAN, Mr. REID, Mr. BINGAMAN, Mr. LEVIN, Mr. HOLLINGS, Mr. BURNS, Mr. STEVENS, Mr. D’AMATO, Mr. HELMS, Mr. JEFFORDS, Mr. SASSER, Ms. MIKULSKI, Mr. KRUEGER, Mr. HEFLIN, Mr. LUGAR, Mr. SIMPSON, Mr. CAMPBELL, Mr. DODD, and Mr. WELLSTONE) introduced the following bill; which was read twice and referred to the Committee on Finance


A BILL

To amend the Internal Revenue Code of 1986 to extend and modify the targeted jobs credit.

    Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. EXTENSION AND MODIFICATION OF TARGETED JOB CREDIT.

    (a) EXTENSION- Paragraph (4) of section 51(c) of the Internal Revenue Code of 1986 (relating to termination) is hereby repealed.

    (b) RESTORATION OF ECONOMICALLY DISADVANTAGED YOUTH STATUS TO INDIVIDUALS WHO HAVE NOT ATTAINED AGE 25-

      (1) IN GENERAL- Subparagraph (B) of section 51(d)(3) of such Code is amended by striking ‘age 23’ and inserting ‘age 25’.

      (2) EFFECTIVE DATE- The amendment made by paragraph (1) shall apply to individuals who begin work for the employer after June 30, 1992.

SEC. 2. CREDIT ELIGIBILITY FOR CERTAIN VETERANS.

    (a) VETERANS DESIGNATED- Paragraph (1) of section 51(d) of the Internal Revenue Code of 1986 (relating to members of targeted groups) is amended by striking ‘or’ at the end of subparagraph (I), by striking the period at the end of subparagraph (J) and inserting ‘, or’, and by adding at the end thereof the following new subparagraph:

        ‘(K) an economically disadvantaged veteran.’

    (b) ECONOMICALLY DISADVANTAGED VETERAN DEFINED- Section 51(d) of such Code is amended by adding at the end thereof the following new paragraph:

      ‘(17) VETERAN WHO IS A MEMBER OF AN ECONOMICALLY DISADVANTAGED FAMILY- The term ‘veteran who is a member of an economically disadvantaged family’ means any individual who is certified by the designated local agency as--

        ‘(A) having served in the active military, naval, or air services (other than active duty for training) of the United States,

        ‘(B) having been discharged or released from such service under conditions other than dishonorable, and

        ‘(C) being a member of an economically disadvantaged family (determined under paragraph (11)).’

    (c) EFFECTIVE DATE- The amendments made by this section shall apply to individuals who begin work for the employer after June 30, 1993.