HB179 Alabama 2016 Session

Under existing law, Alabama employers with less than 50 employees may qualify for an income tax or financial institution excise tax credit for hiring recently deployed unemployed veterans who have been discharged from active service within two years from the date of hire.

This bill would rename the Heroes for Hire Tax Credit Act of 2012 as the Veterans Employment Act and provide further for the definition of an unemployed veteran.

This bill would allow Alabama employers with less than 50 employees to qualify for an income tax or financial institution excise tax credit for hiring unemployed veterans regardless of when the veterans were discharged from active service.

To amend Sections 40-18-320, 40-18-321, and 40-18-322, Code of Alabama 1975, relating to tax credits for hiring veterans; to rename the act the Veterans Employment Act; to provide further for a definition; and to remove the requirement that the tax credit for hiring unemployed veterans only applies to veterans who have been discharged from active service within two years from the date of hire.