DE HB275

Establishes Veterans' Opportunity Credit in Title 30, Chapter 20A of Delaware Code for employers hiring qualified veterans.

Qualified veteran defined as Delaware resident or Delaware National Guard member who engaged in qualified military service (Afghanistan Campaign Medal, Iraq Campaign Medal, or Global War on Terrorism Expeditionary Medal) and was hired between January 1, 2012 and January 1, 2016.

Tax credit equals 10% of qualified veteran's gross wages paid during sustained employment (at least 185 days per year), with maximum credit of $1,500 per veteran per year.

Employers may claim credit for year veteran is hired plus the 2 subsequent tax years against taxes imposed by corporate net income tax, bank franchise tax, insurance premium tax, and property tax.

Unused credits in excess of tax liability are paid to employer as tax refunds; qualified veterans cannot be counted toward employment calculations for other tax credits under Chapter 20.