Otter: Streamline hiring tax breaks, spur vet jobs
Gov. C.L. "Butch" Otter wants lawmakers to streamline and expand a 2-year-old tax break, sweetening the pot for employers who hire veterans returning from Afghanistan or Iraq.
Otter says numerous companies have taken advantage of the "Hire One Act," passed in 2011.
But others complain the law giving income tax credits for creating new jobs is too complicated.
As a result, he says it wants to simplify it.
Otter says additional changes will address the difficulties military veterans have had finding work when they return from duty.
Beyond a 4 percent income tax credit for each new employee, Otter's proposed changes would add another $1,000 to an employer's tax credit for each of those new employees who also are veterans.
At least initially, measure's cost is estimated at $11 million.
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