H. B. 4585


(By Delegates Eldridge, Stowers, Butcher,
Stephens, Rodighiero, Longstreth, D. Poling,

Martin, Iaquinta, Shaver and Hall)


[Introduced February 19, 2010 ; referred to the

Committee on Veterans' Affairs and Homeland Security then Finance.]


A BILL to amend the Code of West Virginia, 1931, as amended, by adding thereto a new section, designed §11-21-42a; and to amend said code by adding thereto a new section, designed §11- 24-12a, all relating to creating a tax credit for hiring veterans of the United States Military.

Be it enacted by the Legislature of West Virginia:

That the Code of West Virginia, 1931, as amended, be amended, by adding thereto a new section, designed §11-21-42a; and that said code be amended by adding thereto a new section, designed §11-24- 12a, all to read as follows:

PART I. GENERAL.

ARTICLE 21. PERSONAL INCOME TAX.
§11-21-42a. Veteran hiring incentive tax credit.
Every employer who hires veterans of the United States Military shall receive a tax credit against his or her West Virginia personal income tax liability in the amount of $1000 for each veteran hired after January 1, 2010. The credits shall be for the first three years of employment of the veterans. The State Tax Commissioner shall provide by appropriate rule or regulation for the reporting, filing and application of claims of the tax credit provided in a manner in conformity with the legislative purpose of this section.
ARTICLE 24. CORPORATION NET INCOME TAX.
§11-24-12a. Veteran hiring incentive tax credit.
Every employer who hires veterans of the United States Military shall receive a tax credit against its West Virginia corporate income tax liability in the amount of $1000 for each veteran hired after January 1, 2010. The credits shall be for the first three years of employment of the veterans. The State Tax Commissioner shall provide by appropriate rule or regulation for the reporting, filing and application of claims for the tax credit provided in a manner in conformity with the legislative purpose of this section.



NOTE: The purpose of this bill is to create a tax credit for hiring veterans of the United States Military.

§11-21-42a and §11-24-12a are new; therefore, they have been completely underscored.