senate Bill S3892A

2013-2014 Legislative Session

Establishes business franchise and personal income tax credits for employment of discharged combat veterans

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Archive: Last Bill Status - In Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

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Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Mar 18, 2014 reported and committed to finance
Mar 13, 2014 print number 3892a
amend and recommit to veterans, homeland security and military affairs
Jan 08, 2014 referred to veterans, homeland security and military affairs
Feb 26, 2013 referred to veterans, homeland security and military affairs

Bill Amendments

Original
A (Active)
Original
A (Active)

S3892 - Bill Details

Current Committee:
Law Section:
Tax Law
Laws Affected:
Amd §§210 & 606, Tax L
Versions Introduced in 2011-2012 Legislative Session:
S7439B

S3892 - Bill Texts

view summary

Establishes business franchise and personal income tax credits for employment of discharged combat veterans.

view sponsor memo
BILL NUMBER:S3892 REVISED 3/13/14

TITLE OF BILL: An act to amend the tax law, in relation to
establishing business franchise and personal income tax credits for
employers which employ combat veterans

PURPOSE: This bill will establish a business franchise and personal
income tax credits for employment of discharged combat veterans.

SUMMARY OF PROVISIONS: Section One - amends section 210 of the tax law
by adding a new subdivision 46 that will create a credit for
employment of combat veterans A taxpayer shall be allowed a credit, to
be computed against the tax imposed by this article for employing
within the state combat veterans.

Section One - defines a combat veteran as a person who served in the
armed forces of the United States within two years of commencing
employment by the taxpayers, who served in a combat zone as designed
by the department of defense, and who has been honorably discharged or
released under honorable circumstances from their service or
furloughed to the reserve.

Section One - defines the amount of the credit as six thousand dollars
for each combat veterans employed by the taxpayer during the taxable
year on a full-time basis of thirty-five hours or more of work per
week. The credit may only be claimed, with regard to any combat
veteran, during the first two tax years of such veterans' employment
by the taxpayer.

Section One - states the credit allowed for any taxable year shall not
reduce the tax due for such year to less than the amount prescribed in
paragraph of subdivision one of this section. However, if the amount
of credit allowable under this subdivision for any taxable year
reduces the tax to such amount, any amount of credit not deductible in
such taxable year that may be carrier over to the following year or
years, and may be deducted from the taxpayer's tax for such year or
years.

Section Two - amends subparagraph (B) of paragraph 1 of subsection (i)
of section 606 of the tax law is amended by adding a new clause (xxxv)
to state credit for employment of combat veterans under subsection
(uu), amount of credit for employment of combat veterans under
subdivision forty-five of section two hundred ten.

Section Three - amends section 606 of the tax law by adding a new
subsection (vv) to create a credit for employment of combat veterans.
A taxpayer shall be allowed a credit, to be computed against the tax
imposed by this article for employing within the state a combat
veterans.

Section Three - defines a combat veteran as a person who served in the
armed forces of the United States within two years of commencing
employment by the taxpayers, who served in a combat zone as designed
by the department of defense, and who has been honorably discharged or
released under honorable circumstances from their service or
furloughed to the reserve. Section Three - states the credit allowed
for any taxable year shall not reduce the tax due for such year to


less than the amount prescribed in paragraph of subdivision one of
this section.

However, if the amount of credit allowable under this subdivision for
any taxable year reduces the tax to such amount, any amount of credit
not deductible in such taxable year that may be carrier over to the
following year or years, and may be deducted from the taxpayer's tax
for such year or years.

Section Three - states the credit allowed for any taxable year shall
not reduce the tax due for such year to less than the amount
prescribed in paragraph of subdivision one of this section.

However, if the amount of credit allowable under this subdivision for
any taxable year reduces the tax to such amount, any amount of credit
not deductible in such taxable year that may be carrier over to the
following year or years, and may be deducted from the taxpayer's tax
for such year or years.

Section Four - this act shall take effect immediately and shall apply
to taxable years commencing on or after January 1, 2013.

JUSTIFICATION: The Iraq & Afghanistan Veterans of America (IAVA), in a
report published in June of 2011 analyzed several key findings from
the RAND Corporation's Needs Assessment of New York State Veterans.
In the report, using the U.S. government's definition of unemployment,
the rate for veterans in the survey was almost 13 percent, which is
more than 4 percentage points higher than the overall unemployment
rate in New York State in August of 2010. According to their report,
in 2010, the average rate for Iraq-and Afghanistan-era veterans was
11.5 percent, almost 2 percent higher than the national average.

New York State must do everything in its power to provide our brave
service men and women with quality employment opportunities when they
return.

This legislation will provide an employer with a $6,000 tax credit if
they hire a combat veteran who has been honorably discharged or
released under honorable circumstances from their service or
furloughed to the reserves within two years of their returning from
their service.

LEGISLATIVE HISTORY:, 5/16/12- S.7439-A, Referred to Investigations
and Government Operations 6/4/12- S.7439-B, Amend and Recommit to
Finance 2/26/13- S.3892, Referred to Veterans, Homeland Security, and
Military Affairs 1/8/14- S.3892, Referred to Veterans, Homeland
Security, and Military Affairs

FISCAL IMPLICATIONS: To be determined.

EFFECTIVE DATE: This act shall take effect immediately and shall apply
to taxable years commencing on or after January 1, 2013.

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                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  3892

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                            February 26, 2013
                               ___________

Introduced  by  Sen.  BALL  --  read twice and ordered printed, and when
  printed to be committed to the Committee on Veterans, Homeland Securi-
  ty and Military Affairs

AN ACT to amend the tax law, in relation to establishing business  fran-
  chise  and  personal  income  tax  credits  for employers which employ
  combat veterans

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.  Section  210  of  the  tax law is amended by adding a new
subdivision 46 to read as follows:
  46. CREDIT FOR EMPLOYMENT OF COMBAT VETERANS. (A) ALLOWANCE OF CREDIT.
A TAXPAYER SHALL BE ALLOWED A CREDIT, TO BE COMPUTED AS PROVIDED IN THIS
SUBDIVISION, AGAINST THE TAX IMPOSED  BY  THIS  ARTICLE,  FOR  EMPLOYING
WITHIN THE STATE A COMBAT VETERAN.
  (B)  COMBAT  VETERAN.  A  COMBAT VETERAN IS A PERSON WHO SERVED IN THE
ARMED SERVICES OF THE UNITED  STATES  WITHIN  TWO  YEARS  OF  COMMENCING
EMPLOYMENT BY THE TAXPAYER, WHO SERVED IN A COMBAT ZONE AS DESIGNATED BY
THE  PRESIDENT OF THE UNITED STATES BY EXECUTIVE ORDER, AND WHO HAS BEEN
HONORABLY DISCHARGED OR RELEASED UNDER HONORABLE CIRCUMSTANCES FROM SUCH
SERVICE OR FURLOUGHED TO THE RESERVE.
  (C) AMOUNT OF CREDIT. THE AMOUNT  OF  CREDIT  SHALL  BE  SIX  THOUSAND
DOLLARS  FOR  EACH  COMBAT  VETERAN  EMPLOYED BY THE TAXPAYER DURING THE
TAXABLE YEAR ON A FULL-TIME BASIS OF THIRTY-FIVE HOURS OR MORE  OF  WORK
PER  WEEK.  THE CREDIT PROVIDED BY THIS SUBDIVISION MAY ONLY BE CLAIMED,
WITH REGARD TO ANY COMBAT VETERAN, IF SUCH VETERAN HAS BEEN EMPLOYED  BY
THE  TAXPAYER  ON A FULL-TIME BASIS FOR AT LEAST TWENTY-FIVE CONSECUTIVE
WEEKS. PROVIDED THAT THE TAXPAYER MAY ONLY CLAIM  CREDIT  FOR  A  COMBAT
VETERAN FOR THE TAXABLE YEAR IN WHICH SUCH VETERAN COMPLETED THE EMPLOY-
MENT  DURATION  REQUIREMENT    OF  THIS  PARAGRAPH  AND  THE IMMEDIATELY
SUCCEEDING TAXABLE YEAR IF SUCH VETERAN HAS BEEN  CONTINUOUSLY  EMPLOYED
BY THE TAXPAYER FOR AT LEAST ONE YEAR.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD07356-01-3

S. 3892                             2

  (D) CARRYOVER. THE CREDIT ALLOWED PURSUANT TO THIS SUBDIVISION FOR ANY
TAXABLE YEAR SHALL NOT REDUCE THE TAX DUE FOR SUCH YEAR TO LESS THAN THE
AMOUNT  PRESCRIBED  IN PARAGRAPHS (C) AND (D) OF SUBDIVISION ONE OF THIS
SECTION.  HOWEVER, IF THE AMOUNT OF CREDIT ALLOWABLE UNDER THIS SUBDIVI-
SION  FOR ANY TAXABLE YEAR REDUCES THE TAX TO SUCH AMOUNT, ANY AMOUNT OF
CREDIT NOT DEDUCTIBLE IN SUCH TAXABLE YEAR MAY BE CARRIED  OVER  TO  THE
FOLLOWING YEAR OR YEARS, AND MAY BE DEDUCTED FROM THE TAXPAYER'S TAX FOR
SUCH YEAR OR YEARS.
  S  2. Subparagraph (B) of paragraph 1 of subsection (i) of section 606
of the tax law is amended by adding a  new  clause  (xxxv)  to  read  as
follows:
(XXXV) CREDIT FOR EMPLOYMENT       AMOUNT OF CREDIT FOR
OF COMBAT VETERANS UNDER           EMPLOYMENT OF COMBAT
SUBSECTION (VV)                    VETERANS UNDER SUBDIVISION
                                   FORTY-SIX OF SECTION
                                   TWO HUNDRED TEN
S  3.   Section 606 of the tax law is amended by adding a new subsection
(vv) to read as follows:
  (VV) CREDIT FOR EMPLOYMENT OF COMBAT VETERANS. (1) ALLOWANCE OF  CRED-
IT.  A TAXPAYER SHALL BE ALLOWED A CREDIT, TO BE COMPUTED AS PROVIDED IN
THIS SUBSECTION, AGAINST THE TAX IMPOSED BY THIS ARTICLE, FOR  EMPLOYING
WITHIN THE STATE A COMBAT VETERAN.
  (2)  COMBAT  VETERAN.  A  COMBAT VETERAN IS A PERSON WHO SERVED IN THE
ARMED SERVICES OF THE UNITED  STATES  WITHIN  TWO  YEARS  OF  COMMENCING
EMPLOYMENT BY THE TAXPAYER, WHO SERVED IN A COMBAT ZONE AS DESIGNATED BY
THE  PRESIDENT OF THE UNITED STATES BY EXECUTIVE ORDER, AND WHO HAS BEEN
HONORABLY DISCHARGED OR RELEASED UNDER HONORABLE CIRCUMSTANCES FROM SUCH
SERVICE OR FURLOUGHED TO THE RESERVE.
  (3) AMOUNT OF CREDIT. THE AMOUNT  OF  CREDIT  SHALL  BE  SIX  THOUSAND
DOLLARS  FOR  EACH  COMBAT  VETERAN  EMPLOYED BY THE TAXPAYER DURING THE
TAXABLE YEAR ON A FULL-TIME BASIS OF THIRTY-FIVE HOURS OR MORE  OF  WORK
PER  WEEK.  THE  CREDIT PROVIDED BY THIS SUBSECTION MAY ONLY BE CLAIMED,
WITH REGARD TO ANY COMBAT VETERAN, IF SUCH VETERAN HAS BEEN EMPLOYED  BY
THE  TAXPAYER  ON A FULL-TIME BASIS FOR AT LEAST TWENTY-FIVE CONSECUTIVE
WEEKS. PROVIDED THAT THE TAXPAYER MAY ONLY CLAIM  CREDIT  FOR  A  COMBAT
VETERAN FOR THE TAXABLE YEAR IN WHICH SUCH VETERAN COMPLETED THE EMPLOY-
MENT DURATION REQUIREMENT OF THIS PARAGRAPH AND THE IMMEDIATELY SUCCEED-
ING  TAXABLE  YEAR IF SUCH VETERAN HAS BEEN CONTINUOUSLY EMPLOYED BY THE
TAXPAYER FOR AT LEAST ONE YEAR.
  (4)  CARRYOVER.    IF  THE  AMOUNT  OF  CREDIT  ALLOWABLE  UNDER  THIS
SUBSECTION FOR ANY TAXABLE YEAR SHALL EXCEED THE TAXPAYER'S TAX FOR SUCH
YEAR, THE EXCESS MAY BE CARRIED OVER TO THE FOLLOWING YEAR OR YEARS, AND
MAY BE DEDUCTED FROM THE TAXPAYER'S TAX FOR SUCH YEAR OR YEARS.
  S 4. This act shall take effect immediately and shall apply to taxable
years commencing on or after January 1, 2013.

Co-Sponsors

S3892A (ACTIVE) - Bill Details

Current Committee:
Law Section:
Tax Law
Laws Affected:
Amd §§210 & 606, Tax L
Versions Introduced in 2011-2012 Legislative Session:
S7439B

S3892A (ACTIVE) - Bill Texts

view summary

Establishes business franchise and personal income tax credits for employment of discharged combat veterans.

view sponsor memo
BILL NUMBER:S3892A

TITLE OF BILL: An act to amend the tax law, in relation to
establishing business franchise and personal income tax credits for
employers which employ combat veterans

PURPOSE: This bill will establish a business franchise and personal
income tax credits for employment of discharged combat veterans.

SUMMARY OF PROVISIONS: Section One amends section 210 of the tax law
by adding a new subdivision 48 that will create a credit for
employment of combat veterans. A taxpayer shall be allowed a credit,
to be computed against the tax imposed by this article for employing
within the state combat veterans.

Section One - defines a combat veteran as a person who served in the
armed forces of the United States within two years of commencing
employment by the taxpayers, who served in a combat zone as designed
by the department of defense, and who has been honorably discharged or
released under honorable circumstances from their service or
furloughed to the reserve.

Section One - defines the amount of the credit as six thousand dollars
for each combat veterans employed by the taxpayer during the taxable
year on a full-time basis of thirty-five hours or more of work per
week. The credit may only be claimed, with regard to any combat
veteran, during the first two tax years of such veterans' employment
by the taxpayer.

Section One - states the credit allowed for any taxable year shall not
reduce the tax due for such year to less than the amount prescribed in
paragraph of subdivision one of this section. However, if the amount
of credit allowable under this subdivision for any taxable year
reduces the tax to such amount, any amount of credit not deductible in
such taxable year that may be carrier over to the following year or
years, and may be deducted from the taxpayer's tax for such year or
years.

Section Two - amends subparagraph (B) of paragraph 1 of subsection (i)
of section 606 of the tax law is amended by adding a new clause
(xxxvii) to state credit for employment of combat veterans under
subsection (xx), amount of credit for employment of combat veterans
under subdivision forty-five of section two hundred ten.

Section Three - amends section 606 of the tax law by adding a new
subsection (xx) to create a credit for employment of combat veterans.
A taxpayer shall be allowed a credit, to be computed against the tax
imposed by this article for employing within the state a combat
veterans.

Section Three - defines a combat veteran as a person who served in the
armed forces of the United States within two years of commencing
employment by the taxpayers, who served in a combat zone as designed
by the department of defense, and who has been honorably discharged or
released under honorable circumstances from their service or
furloughed to the reserve.


Section Three - states the credit allowed for any taxable year shall
not reduce the tax due for such year to less than the amount
prescribed in paragraph of subdivision one of this section.

However, if the amount of credit allowable under this subdivision for
any taxable year reduces the tax to such amount, any amount of credit
not deductible in such taxable year that may be carrier over to the
following year or years, and may be deducted from the taxpayer's tax
for such year or years.

Section Three - states the credit allowed for any taxable year shall
not reduce the tax due for such year to less than the amount
prescribed in paragraph of subdivision one of this section.

However, if the amount of credit allowable under this subdivision for
any taxable year reduces the tax to such amount, any amount of credit
not deductible in such taxable year that may be carrier over to the
following year or years, and may be deducted from the taxpayer's tax
for such year or years.

Section Four - this act shall take effect immediately and shall apply
to taxable years commencing on or after January 1, 2014.

JUSTIFICATION: The Iraq & Afghanistan Veterans of America (IAVA), in a
report published in June of 2011 analyzed several key findings from
the RAND Corporation's Needs Assessment of New York State Veterans.
In the report, using the U.S. government's definition of unemployment,
the rate for veterans in the survey was almost 13 percent, which is
more than 4 percentage points higher than the overall unemployment
rate in New York State in August of 2010. According to their report,
in 2010, the average rate for Iraq- and Afghanistan-era veterans was
11.5 percent, almost 2 percent higher than the national average.

New York State must do everything in its power to provide our brave
service men and women with quality employment opportunities when they
return.

This legislation will provide an employer with a $6,000 tax credit if
they hire a combat veteran who has been honorably discharged or
released under honorable circumstances from their service or
furloughed to the reserves within two years of their returning from
their service.

LEGISLATIVE HISTORY: 5/16/12- S.7439-A, Referred to Investigations
and Government Operations 6/4/12- S.7439-B, Amend and Recommit to
Finance 2/26/13- S.3892, Referred to Veterans, Homeland Security, and
Military Affairs 1/8/14- S.3892, Referred to Veterans, Homeland
Security, and Military Affairs

FISCAL IMPLICATIONS: To be determined.

EFFECTIVE DATE: This act shall take effect immediately and shall apply
to taxable years commencing on or after January 1, 2014.

view full text
download pdf
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                 3892--A

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                            February 26, 2013
                               ___________

Introduced  by  Sen.  BALL  --  read twice and ordered printed, and when
  printed to be committed to the Committee on Veterans, Homeland Securi-
  ty and Military Affairs -- recommitted to the Committee  on  Veterans,
  Homeland  Security and Military Affairs in accordance with Senate Rule
  6, sec. 8 -- committee discharged, bill amended, ordered reprinted  as
  amended and recommitted to said committee

AN  ACT to amend the tax law, in relation to establishing business fran-
  chise and personal income  tax  credits  for  employers  which  employ
  combat veterans

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Section 210 of the tax law  is  amended  by  adding  a  new
subdivision 48 to read as follows:
  48. CREDIT FOR EMPLOYMENT OF COMBAT VETERANS. (A) ALLOWANCE OF CREDIT.
A TAXPAYER SHALL BE ALLOWED A CREDIT, TO BE COMPUTED AS PROVIDED IN THIS
SUBDIVISION,  AGAINST  THE  TAX  IMPOSED  BY THIS ARTICLE, FOR EMPLOYING
WITHIN THE STATE A COMBAT VETERAN.
  (B) COMBAT VETERAN. A COMBAT VETERAN IS A PERSON  WHO  SERVED  IN  THE
ARMED  SERVICES  OF  THE  UNITED  STATES  WITHIN TWO YEARS OF COMMENCING
EMPLOYMENT BY THE TAXPAYER, WHO SERVED IN A COMBAT ZONE AS DESIGNATED BY
THE PRESIDENT OF THE UNITED STATES BY EXECUTIVE ORDER, AND WHO HAS  BEEN
HONORABLY DISCHARGED OR RELEASED UNDER HONORABLE CIRCUMSTANCES FROM SUCH
SERVICE OR FURLOUGHED TO THE RESERVE.
  (C)  AMOUNT  OF  CREDIT.  THE  AMOUNT  OF CREDIT SHALL BE SIX THOUSAND
DOLLARS FOR EACH COMBAT VETERAN EMPLOYED  BY  THE  TAXPAYER  DURING  THE
TAXABLE  YEAR  ON A FULL-TIME BASIS OF THIRTY-FIVE HOURS OR MORE OF WORK
PER WEEK. THE CREDIT PROVIDED BY THIS SUBDIVISION MAY ONLY  BE  CLAIMED,
WITH  REGARD TO ANY COMBAT VETERAN, IF SUCH VETERAN HAS BEEN EMPLOYED BY
THE TAXPAYER ON A FULL-TIME BASIS FOR AT LEAST  TWENTY-FIVE  CONSECUTIVE
WEEKS.  PROVIDED  THAT  THE  TAXPAYER MAY ONLY CLAIM CREDIT FOR A COMBAT
VETERAN FOR THE TAXABLE YEAR IN WHICH SUCH VETERAN COMPLETED THE EMPLOY-

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD07356-02-4

S. 3892--A                          2

MENT DURATION  REQUIREMENT    OF  THIS  PARAGRAPH  AND  THE  IMMEDIATELY
SUCCEEDING  TAXABLE  YEAR IF SUCH VETERAN HAS BEEN CONTINUOUSLY EMPLOYED
BY THE TAXPAYER FOR AT LEAST ONE YEAR.
  (D) CARRYOVER. THE CREDIT ALLOWED PURSUANT TO THIS SUBDIVISION FOR ANY
TAXABLE YEAR SHALL NOT REDUCE THE TAX DUE FOR SUCH YEAR TO LESS THAN THE
AMOUNT  PRESCRIBED  IN PARAGRAPHS (C) AND (D) OF SUBDIVISION ONE OF THIS
SECTION.  HOWEVER, IF THE AMOUNT OF CREDIT ALLOWABLE UNDER THIS SUBDIVI-
SION FOR ANY TAXABLE YEAR REDUCES THE TAX TO SUCH AMOUNT, ANY AMOUNT  OF
CREDIT  NOT  DEDUCTIBLE  IN SUCH TAXABLE YEAR MAY BE CARRIED OVER TO THE
FOLLOWING YEAR OR YEARS, AND MAY BE DEDUCTED FROM THE TAXPAYER'S TAX FOR
SUCH YEAR OR YEARS.
  S 2. Subparagraph (B) of paragraph 1 of subsection (i) of section  606
of  the  tax  law  is amended by adding a new clause (xxxvii) to read as
follows:
(XXXVII) CREDIT FOR EMPLOYMENT     AMOUNT OF CREDIT FOR
OF COMBAT VETERANS UNDER           EMPLOYMENT OF COMBAT
SUBSECTION (XX)                    VETERANS UNDER SUBDIVISION
                                   FORTY-EIGHT OF SECTION
                                   TWO HUNDRED TEN
  S 3. Section 606 of the tax law is amended by adding a new  subsection
(xx) to read as follows:
  (XX)  CREDIT FOR EMPLOYMENT OF COMBAT VETERANS. (1) ALLOWANCE OF CRED-
IT. A TAXPAYER SHALL BE ALLOWED A CREDIT, TO BE COMPUTED AS PROVIDED  IN
THIS  SUBSECTION, AGAINST THE TAX IMPOSED BY THIS ARTICLE, FOR EMPLOYING
WITHIN THE STATE A COMBAT VETERAN.
  (2) COMBAT VETERAN. A COMBAT VETERAN IS A PERSON  WHO  SERVED  IN  THE
ARMED  SERVICES  OF  THE  UNITED  STATES  WITHIN TWO YEARS OF COMMENCING
EMPLOYMENT BY THE TAXPAYER, WHO SERVED IN A COMBAT ZONE AS DESIGNATED BY
THE PRESIDENT OF THE UNITED STATES BY EXECUTIVE ORDER, AND WHO HAS  BEEN
HONORABLY DISCHARGED OR RELEASED UNDER HONORABLE CIRCUMSTANCES FROM SUCH
SERVICE OR FURLOUGHED TO THE RESERVE.
  (3)  AMOUNT  OF  CREDIT.  THE  AMOUNT  OF CREDIT SHALL BE SIX THOUSAND
DOLLARS FOR EACH COMBAT VETERAN EMPLOYED  BY  THE  TAXPAYER  DURING  THE
TAXABLE  YEAR  ON A FULL-TIME BASIS OF THIRTY-FIVE HOURS OR MORE OF WORK
PER WEEK. THE CREDIT PROVIDED BY THIS SUBSECTION MAY  ONLY  BE  CLAIMED,
WITH  REGARD TO ANY COMBAT VETERAN, IF SUCH VETERAN HAS BEEN EMPLOYED BY
THE TAXPAYER ON A FULL-TIME BASIS FOR AT LEAST  TWENTY-FIVE  CONSECUTIVE
WEEKS.  PROVIDED  THAT  THE  TAXPAYER MAY ONLY CLAIM CREDIT FOR A COMBAT
VETERAN FOR THE TAXABLE YEAR IN WHICH SUCH VETERAN COMPLETED THE EMPLOY-
MENT DURATION REQUIREMENT OF THIS PARAGRAPH AND THE IMMEDIATELY SUCCEED-
ING TAXABLE YEAR IF SUCH VETERAN HAS BEEN CONTINUOUSLY EMPLOYED  BY  THE
TAXPAYER FOR AT LEAST ONE YEAR.
  (4)  CARRYOVER.    IF  THE  AMOUNT  OF  CREDIT  ALLOWABLE  UNDER  THIS
SUBSECTION FOR ANY TAXABLE YEAR SHALL EXCEED THE TAXPAYER'S TAX FOR SUCH
YEAR, THE EXCESS MAY BE CARRIED OVER TO THE FOLLOWING YEAR OR YEARS, AND
MAY BE DEDUCTED FROM THE TAXPAYER'S TAX FOR SUCH YEAR OR YEARS.
  S 4. This act shall take effect immediately and shall apply to taxable
years commencing on or after January 1, 2014.

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