The "Veterans Jobs Opportunity Act" proposes to amend the Internal Revenue Code of 1986 by establishing a new tax credit designed to support veteran-owned small businesses. This credit, known as the veteran small business start-up credit , amounts to 15 percent of a taxpayer's qualified start-up expenditures. The maximum amount of expenditures eligible for the credit is $50,000, effectively capping the credit at $7,500. To qualify for this credit, a business must be an applicable veteran-owned small business , meaning it is owned and controlled by one or more veterans or their spouses. Crucially, the principal place of business must be located within an underserved community . These communities include areas such as HUBZones, empowerment zones, areas of low or moderate income, or counties with persistent poverty. A "small business" for this purpose is defined as one with gross receipts not exceeding $5 million in the preceding year or employing no more than 50 full-time employees. Qualified start-up expenditures encompass standard start-up costs and amounts paid for the purchase or lease of real property or the purchase of personal property used in the business. Taxpayers must elect to take the credit, which is available only for the first two taxable years of the business. The credit is integrated into the existing general business credit framework. To ensure compliance, the Secretary of the Treasury, in consultation with the Small Business Administration, will verify that businesses meet the veteran-owned and underserved community requirements. Furthermore, the Treasury Inspector General for Tax Administration will periodically evaluate the credit's effectiveness and accountability.