AL SB75

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

Expands eligibility for the $1,000 tax credit to 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 "unemployed veteran" as an individual who was an Alabama resident at military entry or mobilized while 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.

Applies the credit against income tax liability or state portion of financial institution excise tax for each new full-time unemployed veteran hired for a position with majority duties at an Alabama business location.

Effective date: January 1, 2017.