HB449 Alabama 2015 Session

Summary

Primary Sponsor

Dickie Drake

Republican

Session

Regular Session 2015

Title

Heroes for Hire Tax Credit Act of 2012, renamed, Veterans Employment Act, Secs. 40-18-320, 40-18-321, 40-18-322 am'd.

Summary

HB449 renames the Heroes for Hire Tax Credit Act to the Veterans Employment Act and expands and adds tax credits for Alabama employers who hire unemployed veterans, including a new $1,000 per-hire credit and broader veteran eligibility.

What This Bill Does

The bill renames the act to the Veterans Employment Act. It allows Alabama employers with fewer than 50 employees to qualify for income tax or financial institution excise tax credits for hiring unemployed veterans regardless of when the veteran was discharged. It adds a new $1,000 nonrefundable tax credit for each new full-time recently deployed unemployed veteran hired, as long as the employer meets existing requirements and the job is mainly located in Alabama, with the veteran meeting defined criteria. It defines who counts as a recently deployed unemployed veteran ( residency at entry or activation in Alabama, honorable/general discharge, and unemployment benefits status) and sets an effective date of January 1, 2016.

Who It Affects

• Small Alabama employers (fewer than 50 employees) who hire unemployed veterans will be able to claim existing income tax or financial institution credit without regard to the veteran's discharge date.
• Unemployed veterans who meet the bill’s definition of 'recently deployed unemployed veteran' (including residency, discharge type, and unemployment benefits status) and are hired for full-time work in Alabama can help their employers qualify for the additional $1,000 per-hire credit.

Key Provisions

• Renames the act to the Veterans Employment Act of 2012 Veterans Employment Act and amends Sections 40-18-320, 40-18-321, and 40-18-322 accordingly.
• Expands eligibility for the existing credit to employers with fewer than 50 employees, removing the requirement that veterans must have been discharged within the last two years to qualify.
• Adds a new $1,000 nonrefundable tax credit for each new full-time recently deployed unemployed veteran hired, payable against the income tax or the state portion of the financial institution excise tax, for positions mainly located in Alabama.
• Defines 'recently deployed unemployed veteran' with criteria including Alabama residency at entry/activation, honorable or general discharge, and unemployment benefits status at the time of hire.
• Establishes a January 1, 2016 effective date for the changes.

AI-generated summary using openai/gpt-5-nano on Feb 24, 2026. May contain errors — refer to the official bill text for accuracy.

Subjects

Veterans