Bill > A02817

This bill establishes a returning veterans tax credit for businesses in New York that hire veterans and disabled veterans. The tax credit is worth $3,000 per veteran hired or $4,000 for every disabled veteran hired, with a total annual benefit not exceeding $15,000. To qualify, the veteran or disabled veteran must be a new employee, work at least 35 hours per week (or 17.5 hours per week for disabled veterans), and remain employed for at least 12 months. The credit can be carried over for up to 10 succeeding taxable years, but cannot be used to reduce the business's tax liability below zero. The bill defines key terms such as "new employee," "base year," and "disabled veteran" for the purposes of the tax credit.