Senate Bill 136 provides tax credits to businesses who hire Alaskan veterans

JUNEAU-Yesterday, the Alaska State Senate passed Senate Bill 136, which would help Alaska’s unemployed veterans get jobs. SB136, sponsored by Senator Bill Wielechowski (D-Anchorage), provides a $2,000 credit for each veteran hired who works at least 1,560 hours within a 12-month period, or approximately 30 hours a week. The bill also includes a $3,000 tax credit for hiring a disabled veteran, and $1,000 tax credit for the seasonal hiring of a veteran if that person is employed for 600 hours or more for five consecutive months.

“Veterans have proven themselves to be disciplined and ambitious employees, and this new tax credit will provide incentives to Alaskan businesses to put them back to work,” said Senator Wielechowski. “Just as they sacrificed to protect each of us, we owe them our support.”

Despite many employers acknowledging the advantages of hiring someone who has served in the Armed Forces, veterans continue to see higher than average unemployment rates. In June 2011, according to the U.S. Bureau of Labor Statistics, one million U.S. veterans were unemployed and the jobless rate for post-9/11 veterans was 13.3%. The picture was even worse for young, male veterans between the ages of 18 and 24, who saw an unemployment rate of 21.9%.

In order to qualify for a tax credit, a business must hire a veteran who has been unemployed for at least four weeks and been released from the military not more than two years before the date of employment. For a disabled veteran, the tax credit is available for not more than 10 years after release from military service.

“No veteran who served this country should ever have to worry about finding work once he or she comes home,” said Senator Wielechowski. “It is our job to make sure veterans returning to civilian life get the support they need so they can land on their feet and have the opportunity to make a living and support their families.”

Senate Bill 136 now heads to the House for further consideration.

For more information, please contact Kendra Kloster in Senator Bill Wielechowski’s office at (907) 465-2435.