From Sen. Amanda Ragan –
I was pleased to manage SF 302, which promotes hiring armed forces employees, through the Veterans Affairs Committee. The bill creates a Hire a Hero state tax credit.
The tax credit is available for employers in the amount of $1,000 per eligible employee for the year in which the employee is hired, $500 for each subsequent year of employment, and $500 for each year the employee is called to at least 30 days of military service. An eligible employee must be an Iowa resident and a member of the National Guard or Reserve or regular component of the U.S. Armed Forces employed on a permanent basis for at least 30 hours per week.
The bill provides that an otherwise eligible employee will not be eligible if they were hired to replace another eligible employee who left their job in the previous 12 months, unless the employee being replaced left voluntarily or was discharged for misconduct. The bill is retroactive to January 1, 2013.