HI HB2146

Establishes a state income tax credit for employers who hire qualified veterans and receive a federal tax credit under Internal Revenue Code Section 51.

Tax credit amount equals the federal tax credit received for veteran employment in the same taxable year.

Excess tax credits exceeding annual liability may be carried forward to subsequent years; claims must be filed within 12 months after the close of the taxable year.

Director of Taxation must prepare necessary forms and may require taxpayers to provide IRS or Employment and Training Administration documentation to verify credit eligibility.

Director of Taxation, with assistance from the Department of Labor and Industrial Relations, must report annually to the legislature on jobs created and job tenure resulting from the tax credit.