1. Short title This Act may be cited as the Improve and Enhance the Work Opportunity Tax Credit Act . 2. Improving and enhancing work opportunity tax credit (a) In general Section 51(a) of the Internal Revenue Code of 1986 is amended— (1) by striking shall be equal to 40 percent and all that follows and inserting the following: shall be equal to the sum of— (1) 50 percent of so much of the qualified first-year wages with respect to each individual for such year as does not exceed $6,000, plus (2) in the case of individuals who have performed at least 400 hours of service for the employer, 50 percent of so much of the qualified first-year wages with respect to each such individual for such year as exceeds $6,000, and does not exceed $12,000. . (b) Conforming amendments relating to limitation on wages taken into account for certain veterans Section 51(b)(3) of such Code is amended to read as follows: (3) Increased limitation on wages taken into account for veterans The $6,000 and $12,000 amounts under paragraphs (1) and (2) of subsection (a) shall be increased to— (A) $12,000 and $24,000, respectively, in the case of any individual who is a qualified veteran by reason of subsection (d)(3)(A)(ii)(I), (B) $14,000 and $28,000, respectively, in the case of any individual who is a qualified veteran by reason of subsection (d)(3)(A)(iv), and (C) $24,000 and $48,000, respectively, in the case of any individual who is a qualified veteran by reason of subsection (d)(3)(A)(ii)(II). . (c) Conforming amendments relating to individuals not meeting minimum employment periods (1) Subparagraphs (A) and (B) of section 51(i)(3) of such Code are each amended by striking subsection (a) and inserting subsection (a)(1) . (2) Section 51(i)(3)(A) of such Code is amended by striking 40 percent and inserting 50 percent . (d) Conforming amendments relating to treatment of summer youth employees Section 51(d)(7)(B) of such Code is amended— (1) by striking clause (ii), (2) by striking , and at the end of clause (i) and inserting a period, (3)