Marcy 28, 2013

2013-2014 Fiscal Plan Establishes Tax Incentives to Hire Veterans and Enhances Supportive Services

Assembly Speaker Sheldon Silver and Veterans' Affairs Committee Chair Michael Benedetto today announced initiatives included in the SFY 2013-2014 Budget to help New York's returning soldiers by improving employment services and providing a tax credit to businesses that employ post-9/11 military veterans.

"The Assembly Majority continues to be committed to the well-being of New York's veterans and their families," said Silver. "An essential component of this promise is making sure those men and women who have sacrificed on behalf of our country find a good paying job to support their families. Our state budget further advances this commitment by incentivizing businesses to create jobs for veterans."

To promote job growth and support efforts to employ more of our returning service men and women, the SFY 2013-2014 Budget provides a state tax credit to businesses that hire a post-9/11 military veteran for a new full-time job. The credit is equal to 10 percent of wages paid to the qualified veteran during the first full year of employment or 15 percent of wages if the veteran is disabled. Employers may apply the tax credit towards every new veteran that they hire for a qualifying job, without limit.

"As our newest veterans return home, it is imperative to establish programs and services to ease their transition into civilian life," said Benedetto. "At the core of this goal are efforts to connect our service men and women with well compensated jobs and services that will improve their quality of life."

In an effort to keep veterans who have made the ultimate sacrifice closer to surviving family members, the budget includes legislation to establish a board that would assist the Director of Veterans' Affairs in determining the most appropriate site for a state veterans' cemetery. The measure authorizes the Division of Veterans' Affairs to submit an application to the federal government for funding for the construction of the cemetery and establishes a process that would fund the cemetery's ongoing maintenance costs.

The fiscal plan also includes funding for the following supportive services: