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2013 SESSION

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SB 831 Gold-Certified Veteran Employment Grant Fund; established.

Introduced by: Linda T. Puller | all patrons    ...    notes | add to my profiles | history

SUMMARY AS PASSED SENATE:

Gold-Certified Veteran Employment Grant Fund and Program. Creates the Gold-Certified Veteran Employment Grant Fund and Gold-Certified Veteran Employment Grant Program. Businesses who obtain the gold level of certification in the Department of Veterans Services Virginia Values Veterans Certification Program may apply for grants from the Fund. The grant is $500 when a veteran is hired and employed throughout the year in a new full-time job created by a business and that pays an annual salary of at least $50,000. An additional $500 is granted if the veteran is a disabled military veteran. The bill limits the grant to a one-time amount of $10,000 per business but businesses who maintain gold-level certification may apply for additional grants of $1,000 per year.

SUMMARY AS INTRODUCED:

Tax credit for hiring military veterans. Establishes beginning January 1, 2013, but before January 1, 2018, an individual and corporate income tax credit for taxpayers hiring returning or disabled military veterans into new jobs paying an annual salary of at least $50,000. Returning military veterans are persons who served on active duty on or after September 1, 2001, but not including any person who first served on active duty on or after January 1, 2015. Disabled military veterans are persons who are rated by the U.S. Department of Veterans Affairs as having at least a 50 percent service-connected disability and who were unemployed for at least six months in the calendar year immediately preceding the date on which they were hired into the new job. The tax credit would equal $500 each year for five years for returning military veterans holding the new job continuously throughout the year and $1,000 each year for five years for disabled military veterans holding the new job continuously throughout the year. No credit would be allowed for any year in which the number of full-time employees of the taxpayer is less than the average annual number of full-time employees of the taxpayer in the immediately preceding three years.