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AR HB1395
Bill
Status
Failed
5/1/2017
Primary Sponsor
Greg Leding
Click for details
AI Summary
- Creates a $1,500 income tax credit for qualified small businesses that hire and employ recently returned veterans on active duty since January 1, 2001
- Requires the veteran to be employed for at least 8 months during the tax year in which the credit is claimed and be currently employed when the credit is claimed
- Limits the credit to a maximum of 2 consecutive tax years for each recently returned veteran hired
- Defines qualified small business as independently owned, for-profit businesses that are not dominant in their field and meet Small Business Administration size standards as of July 1, 2016
- Effective for tax years beginning on or after January 1, 2018
Legislative Description
To Create An Income Tax Credit For Taxpayers That Employ A Recently Returned Veteran.
Last Action
Died in House Committee at Sine Die Adjournment
5/1/2017
Committee Referrals
Revenue and Taxation1/31/2017
Full Bill Text
No bill text available