00 SENATE BILL NO. 136
01 "An Act providing a tax credit for employing an Alaska veteran that may be taken
02 against a liability for the tax on corporation income; and providing for an effective
04 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:
05 * Section 1. AS 43.20 is amended by adding a new section to article 1 to read:
06 Sec. 43.20.047. Veteran employment tax credit. (a) A taxpayer that hires an
07 Alaska veteran and employs the veteran for 1,560 hours or more during the 12
08 consecutive months immediately following the date the Alaska veteran is first
09 employed is entitled to a credit of $2,000 against the tax due under this chapter. The
10 taxpayer is entitled to the credit for each veteran whose employment qualifies under
11 this subsection.
12 (b) The tax credit under this section may be applied against the tax due under
13 this chapter for the first tax year ending on or after the end of the 12-month
14 employment period described in (a) of this section. The credit may not be used to
01 reduce a person's tax liability under this chapter below zero for any tax year, and any
02 credit or portion of a credit not used under this section may be applied in a later tax
04 (c) A taxpayer shall keep a record of the name of the Alaska veteran employee
05 whose employment is the basis for a credit under this section, documentation
06 supporting the employee's qualification as an Alaska veteran, and the Alaska veteran
07 employee's hours employed and period of employment. The department may adopt a
08 regulation that lists the documentation that must be maintained to support a claim that
09 an employee qualifies as an Alaska veteran for purposes of this section.
10 (d) In this section, "Alaska veteran" has the meaning given in AS 36.30.175.
11 * Sec. 2. This Act takes effect July 1, 2012.