Illinois Senate Bill 3953

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Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on May 14 2024 - 25% progression
Action: 2024-05-14 - Referred to Assignments
Pending: Senate Assignments Committee
Text: Latest bill text (Introduced) [HTML]

Creates the Local Journalism Sustainability Act. Creates a credit against an employer's withholding tax liability if the employer is a local news organization. Provides that the amount of the credit is equal to 50% of the amount of wages paid by the employer to qualified journalists in the calendar year in which the credit certificate is issued, not to exceed $25,000 in credits per qualified journalist. Provides that an additional withholding tax credit of $5,000 shall be awarded for each qualified journalist who fills a new journalism position for the employer during the calendar year in which the credit certificate is issued. Provides that those credits are subject to certain limitations. Amends the Illinois Income Tax Act. Creates an income tax credit, subject to certain limitations, in an amount equal to the consideration paid during the taxable year by an eligible small business to local newspapers or local broadcast stations for advertising in this State. Effective immediately.

LOCAL JOURNALISM ACT

Sen. Steve Stadelman [D]

Date	Chamber	Action
2024-05-14	Senate	Referred to Assignments
2024-05-14	Senate	First Reading
2024-05-14	Senate	Filed with Secretary by Sen. Steve Stadelman

Chapter	Article	Section	Citation Type	Statute Text
35	5	241	New Code	See Bill Text
35	5	704A	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=3953&GAID=17&DocTypeID=SB&SessionID=112&GA=103
Text	https://www.ilga.gov/legislation/103/SB/10300SB3953.htm