Congresswoman Jacky Rosen (D-NV) recently introduced the Hire Student Veterans Act (HR-6392), meant to encourage the employment of student veterans. The bill would expand the Work Opportunity Tax Credit (WOTC) program by adding a target group for student veterans receiving GI benefits.
If passed, employers that hire qualified student veterans may be eligible for a credit of up to $2,400 (40% of the first $6,000 in wages paid), which would apply when the employee worked for 120 hours total.
The newly introduced bill has bi-partisan sponsorship, and may get additional co-sponsorship soon. We will continue to monitor the progression of this bill, and keep you informed on any WOTC program news. If you have any questions on this bill, WOTC, or other tax credit programs, please contact your First Advantage Tax Account Manager.