IN HB1467

Legislative Description

Incentives for veterans to relocate to Indiana. Establishes the regional veterans hiring initiative fund (fund). Provides that the Indiana economic development corporation (IEDC) shall administer the fund. Allows the IEDC to enter into a regional veterans hiring initiative agreement with: (1) counties, cities, towns, and regional development authorities; and (2) local employers; in a region to provide marketing and recruiting services to attract eligible veterans for employment in the region and provide financial support to eligible veterans who relocate to the region to accept employment. Defines "eligible veteran" as an individual who: (1) served in the armed forces of the United States or their reserves; and (2) has received an honorable discharge within the last six months. Allows the IEDC to make grants or loans to an eligible veteran for authorized purposes. Requires an eligible veteran to repay the money to the IEDC if the veteran: (1) fails to use the money awarded for authorized purposes; or (2) fails to maintain employment with the local employer for at least 12 months following the veteran's initial hiring date. Allows the IEDC to make matching grants to regional development authorities to be used to develop and implement a regional program for marketing and recruiting to attract eligible veterans to the region to accept employment with a local employer. Requires the lieutenant governor to add or assign one employee of the lieutenant governor's office to serve as a liaison between those regional development authorities that have entered into a regional veterans hiring initiative agreement and all state agencies to ensure the coordination and efficiency of the regional development authorities' veterans recruitment programs. Provides a tax credit against state income tax liability of an employer if the following apply: (1) The employer is a party to a regional veterans hiring initiative agreement. (2) The employer employs an eligible veteran during the taxable year. (3) The eligible veteran has maintained continuous full-time employment with the taxpayer for at least 12 months following the veteran's initial hiring date. (4) The IEDC certifies the credit. Provides that the amount of the credit is equal to: (1) $1,000; multiplied by (2) each eligible veteran for whom the employer is allowed a credit for the taxable year. Provides, however, that an employer not claim a credit for an eligible veteran for whom the employer is allowed a credit in more than one taxable year. Allows an employer to carry forward any unused credit amount. Makes an appropriation.

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