Illinois House Bill 2625 (Prior Session Legislation)

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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]

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.

INC TX-MANUFACTURING JOBS

Sen. Robert Martwick [D]

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

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=2625&GAID=12&DocTypeID=HB&SessionID=85&GA=98
Text	https://www.ilga.gov/legislation/98/HB/09800HB2625.htm