Income tax, state and corporate; tax credit for hiring certain veterans with salary of $30,000. (HB2290)

Introduced By

Del. Chris Head (R-Roanoke) with support from co-patrons Del. David Ramadan (R-South Riding), and Del. Michael Webert (R-Marshall)

Progress

Introduced
Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law

Description

Tax credit for hiring military veterans. Establishes beginning January 1, 2013, but before January 1, 2018, an individual and corporate income tax credit for taxpayers hiring returning or disabled military veterans into new full-time jobs paying an annual salary of at least $30,000. Returning military veterans are persons who served on active duty on or after September 1, 2001, but not including any person who first served on active duty on or after January 1, 2015. Disabled military veterans are persons who are rated by the U.S. Department of Veterans Affairs as having at least a 50 percent service-connected disability and who were unemployed for at least six months in the calendar year immediately preceding the date on which they were hired into the new job. The tax credit would equal $500 for each returning or disabled military veteran hired. No credit would be allowed for any year in which the number of full-time employees of the taxpayer is less than the average annual number of full-time employees of the taxpayer in the immediately preceding three years. Any unused tax credit could be carried forward for five years. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/17/2013Presented and ordered printed 13103723D
01/17/2013Referred to Committee on Finance
01/22/2013Assigned Finance sub: #3
01/24/2013Impact statement from TAX (HB2290)
01/25/2013Subcommittee recommends laying on the table (4-Y 1-N)
02/05/2013Left in Finance