IL HB2625 | 2013-2014 | 98th General Assembly
Status
Completed Legislative Action
Spectrum: Partisan Bill (Democrat 1-0)
Status: Failed on December 3 2014 - 100% progression
Action: 2014-12-03 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]
Spectrum: Partisan Bill (Democrat 1-0)
Status: Failed on December 3 2014 - 100% progression
Action: 2014-12-03 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]
Summary
Amends the Illinois Income Tax Act. Creates a credit in an amount equal to $500 for each new employee (i) who was hired by the taxpayer during the previous taxable year to perform a manufacturing job at a location in Illinois and (ii) who remains employed by the taxpayer on the last day of the current taxable year. Provides that, if a taxpayer receives such a credit and the position is relocated to an out-of-state job site within 5 years after the taxpayer receives the credit, then the taxpayer shall forfeit the amount of the credit awarded for that job. Provides that excess credit amounts may be carried forward and applied to the tax liability of the 5 taxable years following the excess credit year. Provides that the credit is exempt from the Act's automatic sunset provision. Effective immediately.
Title
INC TX-MANUFACTURING JOBS
Sponsors
History
Date | Chamber | Action |
---|---|---|
2014-12-03 | House | Session Sine Die |
2013-03-22 | House | Rule 19(a) / Re-referred to Rules Committee |
2013-03-04 | House | Assigned to Revenue & Finance Committee |
2013-02-21 | House | Referred to Rules Committee |
2013-02-21 | House | First Reading |
2013-02-21 | House | Filed with the Clerk by Rep. Robert F. Martwick |
Code Citations
Illinois State Sources
Type | Source |
---|---|
Summary | https://www.ilga.gov/legislation/BillStatus.asp?DocNum=2625&GAID=12&DocTypeID=HB&SessionID=85&GA=98 |
Text | https://www.ilga.gov/legislation/98/HB/09800HB2625.htm |