Illinois House Bill 1497 (Prior Session Legislation)

---

Completed Legislative Action
Sponsorship: Partisan Bill (Republican 1)
Status: Failed on December 3 2014 - 100% progression
Action: 2014-12-03 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]

Amends the Illinois Income Tax Act. Provides that a taxpayer who owns and operates a business in Illinois shall be allowed a credit in the amount of $3,750 per employee hired by the taxpayer and retained for 2 years. Provides that the credit may be allowed in the amount of $2,500 in the year the employee is hired and in the amount of $1,250 in the second year of employment. Provides that if the amount of the credit exceeds the taxpayer's liability for the taxable year, the excess may be carried forward and applied to the tax liability of the next 5 years. Effective immediately.

INC TX-JOB CREATION CREDIT

Rep. Dwight Kay [R]

Date	Chamber	Action
2014-12-03	House	Session Sine Die
2013-03-22	House	Rule 19(a) / Re-referred to Rules Committee
2013-02-19	House	Assigned to Revenue & Finance Committee
2013-02-13	House	Referred to Rules Committee
2013-02-13	House	First Reading
2013-02-07	House	Filed with the Clerk by Rep. Dwight Kay

Chapter	Article	Section	Citation Type	Statute Text
35	5	224	New Code	See Bill Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=1497&GAID=12&DocTypeID=HB&SessionID=85&GA=98
Text	https://www.ilga.gov/legislation/98/HB/09800HB1497.htm