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AR HB1187
Bill
Status
Failed
4/22/2015
Primary Sponsor
Greg Leding
Click for details
AI Summary
- Establishes a $1,500 income tax credit for qualified small businesses for each recently returned combat veteran hired
- Defines "recently returned combat veteran" as a veteran who served on active duty in a combat zone on or after January 1, 2001
- Credit is available for two consecutive tax years following the year of hire, with a maximum total of $3,000 and cannot exceed the taxpayer's income tax liability
- Applies only to businesses that are independently owned, for-profit, not dominant in their field, and meet Small Business Administration size standards
- Effective for tax years beginning on and after January 1, 2016
Legislative Description
To Provide A Tax Credit Against Income Tax For Businesses Who Employ Recently Returned Combat Veterans.
Last Action
Died in House Committee at Sine Die adjournment.
4/22/2015
Committee Referrals
Revenue and Taxation1/28/2015
Full Bill Text
No bill text available