IL HB0227 | 2019-2020 | 101st General Assembly

Status

Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on January 9 2019 - 25% progression
Action: 2019-02-07 - To Income Tax Subcommittee
Text: Latest bill text (Introduced) [HTML]

Summary

Amends the Illinois Income Tax Act. Creates a credit in an amount equal to 10% of the stipend or salary paid by the taxpayer to up to (i) 5 qualified college interns or (ii) 5 qualified high school interns during the taxable year. Provides that no taxpayer may claim more than $5,000 in total credits under that Section for all taxable years combined. Provides that the credit is exempt from the Act's automatic sunset provision. Effective immediately.

Tracking Information

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Title

INC TX-INTERNSHIP CREDIT

Sponsors


History

DateChamberAction
2019-02-07HouseTo Income Tax Subcommittee
2019-01-29HouseAssigned to Revenue & Finance Committee
2019-01-09HouseReferred to Rules Committee
2019-01-09HouseFirst Reading
2019-01-07HousePrefiled with Clerk by Rep. Thomas M. Bennett

Code Citations

ChapterArticleSectionCitation TypeStatute Text
355229New CodeSee Bill Text

Illinois State Sources


Bill Comments

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