AL HB449

Renames the "Heroes for Hire" Tax Credit Act of 2012 to the "Veterans Employment Act."

Removes the two-year discharge requirement, allowing Alabama employers with fewer than 50 employees to claim a $1,000 tax credit for hiring unemployed veterans regardless of when they were discharged from active service.

Expands the definition of "unemployed veteran" to include any veteran with an honorable or general discharge who meets Alabama residency and unemployment benefit requirements, eliminating the prior "recently deployed" limitation.

Changes the effective date for the tax credit from January 1, 2012 to January 1, 2016.

Allows qualified employers to claim the credit against income tax liability or state portion of financial institution excise tax owed for each new full-time veteran hired.