(a) The provisions in this section shall apply to the following:
(1) Any incentivized company that employed, in the prior year, at least 12 percent of its eligible employees as veterans who received an honorable or general discharge. The calculation of the percentage of eligible employees who are veterans shall be made using the method provided in a project agreement.
(2) Any incentivized company that employed eligible employees by or through a qualifying project located within a former active duty military installation closed by the Base Realignment and Closure process.
(b)(1) Any incentivized company described by subdivision (1) of subsection (a) shall receive an additional 0.5 percent jobs credit provided in Section 40-18-375(a) on the wages paid during the prior year to eligible employees who are veterans.
(2) Any incentivized company described by subdivision (2) of subsection (a) shall receive an additional 0.5 percent jobs credit provided in Section 40-18-375(a) on the wages paid during the prior year to its eligible employees.
(c) No incentivized company claiming the credit provided by subdivision (1) of subsection (b) shall also claim the credit provided by Article 13 of this chapter for any portion of the project.
(d) The Department of Labor shall periodically verify the actual number of veterans employed by the incentivized company described in subdivision (1) of subsection (a) and the wages of the veterans during the relevant year. If the Department of Labor is not able to provide the verification utilizing all available resources, it may request any additional information from the incentivized company as may be necessary.
Structure Code of Alabama
Title 40 - Revenue and Taxation.
Article 16 - Alabama Jobs Act.
Section 40-18-370 - Short Title; Legislative Findings; Definitions.
Section 40-18-370.1 - Legislative Findings as to Enhancement of Alabama Jobs Act.
Section 40-18-371 - Requirements for Receipt of Incentives.
Section 40-18-372 - Qualifying Projects - Activities and Standards.
Section 40-18-373 - Approved Companies.
Section 40-18-374 - Claiming of Incentives; Project Agreement; Amounts and Durations of Incentives.
Section 40-18-375 - Jobs Credit Against Utility Taxes; Realization of Benefits; Regulations.
Section 40-18-376 - Investment Credit; Realization Methods; Rulemaking Authority.
Section 40-18-376.1 - Projects in Targeted or Jumpstart Counties.
Section 40-18-376.2 - Additional Jobs Credit for Employment of Veterans.
Section 40-18-376.3 - Qualifying Projects by Technology Companies.
Section 40-18-376.4 - Qualifying Projects by Underrepresented Companies.
Section 40-18-379 - Joint Legislative Advisory Committee on Economic Incentives.
Section 40-18-380 - Implementation of Article.
Section 40-18-381 - Construction of Article.
Section 40-18-382 - Continuation or Reinstatement of Incentives.
Section 40-18-385 - Implementation and Administration of the Alabama Incentives Modernization Act.
Section 40-18-386 - Reductions of Distribution for Education Trust Fund and General Fund.