(1) This act shall be known and may be cited as the "private employer's veterans' preference policy act".

    (2) As used in this act:

    (a) "Private employer" means a sole proprietor, corporation, partnership, limited liability company, or other private entity with 1 or more employees.

    (b) "Veteran" means an individual who meets both of the following:

    (i) Is a veteran as defined in section 1 of 1965 PA 190, MCL 35.61.

    (ii) Served at least 180 days of active duty in the armed forces of the United States or has a service-connected disability as a result of service in the armed forces of the United States.

    (c) "Veterans' preference employment policy" means a private employer's voluntary preference for hiring, promoting, or retaining a veteran over another equally qualified applicant or employee.