AL HB179

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

Expands eligibility for the $1,000 tax credit to Alabama employers with fewer than 50 employees who hire unemployed veterans, removing the requirement that veterans must have been discharged from active service within two years of hire.

Defines "Recently Deployed Unemployed Veteran" as an individual who was an Alabama resident at military entry or mobilized while serving in the Alabama National Guard, received an honorable or general discharge, and has Department of Labor certification of collecting, being eligible for, or having exhausted unemployment benefits.

Makes the tax credit applicable against either income tax liability or the state portion of financial institution excise tax owed, at $1,000 per new full-time veteran hired for positions with majority duties in Alabama.

Becomes effective January 1, 2017.