IL HB3923 | 2015-2016 | 99th General Assembly
Status
Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on February 27 2015 - 25% progression, died in committee
Action: 2015-03-27 - Rule 19(a) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]
Status: Introduced on February 27 2015 - 25% progression, died in committee
Action: 2015-03-27 - Rule 19(a) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]
Summary
Amends the Illinois Income Tax Act. Creates a deduction in an amount equal to workers' compensation costs incurred by the taxpayer that are attributable to employees of the taxpayer who are employed at a location in a county with high unemployment. Creates a credit for taxpayers who (i) are not otherwise entitled to a tax credit under the Economic Development for a Growing Economy Tax Credit Act and (ii) employ at least 5 new employees at a project location in a county with high unemployment. Provides that the amount of the credit shall be determined by multiplying the taxpayer's income tax rate by the average wage of the new employees and then multiplying the result by the number of new employees.
Title
INC TX-HIGH UNEMPLOYMENT
Sponsors
History
Date | Chamber | Action |
---|---|---|
2015-03-27 | House | Rule 19(a) / Re-referred to Rules Committee |
2015-03-13 | House | To Income Tax Subcommittee |
2015-03-12 | House | Assigned to Revenue & Finance Committee |
2015-02-27 | House | Referred to Rules Committee |
2015-02-27 | House | First Reading |
2015-02-27 | House | Filed with the Clerk by Rep. Bill Mitchell |
Code Citations
Chapter | Article | Section | Citation Type | Statute Text |
---|---|---|---|---|
35 | 5 | 203 | Amended Code | Citation Text |
35 | 5 | 211 | Amended Code | Citation Text |
Illinois State Sources
Type | Source |
---|---|
Summary | https://www.ilga.gov/legislation/BillStatus.asp?DocNum=3923&GAID=13&DocTypeID=HB&SessionID=88&GA=99 |
Text | https://www.ilga.gov/legislation/99/HB/09900HB3923.htm |