TRENTON – Legislation sponsored by Senator Linda Greenstein and Senator Troy Singleton, which would establish “The New Jersey Battlefield to Boardroom Act,” passed the Senate Military and Veterans’ Affairs Committee.
“Our veterans learn so many skills while serving in the military,” said Senator Greenstein (D-Mercer/Middlesex). “Those skills can be very beneficial to businesses looking to hire. We should make businesses more aware of those benefits by incentivizing the hiring veterans.”
“The transition from soldier to civilian can be difficult for service members, particularly when trying to find a decent job,” said Senator Singleton (D-Burlington). “By incentivizing businesses to hire veterans, we are making their transition home a bit smoother in recognition and appreciation of all they have sacrificed to defend our freedoms.”
The bill, S-2937, would provide a corporation business tax credit or a gross income tax credit for qualified wages of certain veterans. The two credits established by the bill would provide an employer with a credit for 10% of the wages paid to a veteran. Under the bill, the credits could not exceed $1,200 for each veteran per tax year.
The bill was released from committee by a vote of 4-0, and next heads to the Senate Budget and Appropriations Committee for further consideration.