IL SB3194 | 2017-2018 | 100th General Assembly
Status
Completed Legislative Action
Spectrum: Slight Partisan Bill (Republican 2-1)
Status: Failed on January 9 2019 - 100% progression
Action: 2019-01-09 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]
Spectrum: Slight Partisan Bill (Republican 2-1)
Status: Failed on January 9 2019 - 100% progression
Action: 2019-01-09 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]
Summary
Amends the Illinois Income Tax Act. Creates the Hire Illinois Tax Credit. Provides that a business is eligible for a $500 tax credit against its withholding tax liability for each recent graduate of a public university in the State who is hired by the taxpayer within the incentive period and retained by the taxpayer for 12 consecutive months. Provides that the $500 tax credit may be taken in both the year the qualified employee is hired and for each year of the next 4 years the qualified employee is retained by the taxpayer for 12 consecutive months. Provides 2 ways the taxpayer may take the $500 tax credit. Provides that the Department of Commerce and Economic Opportunity shall limit the monetary amount of these tax credits to $25,000,000. Provides for procedures for a business to apply for a certificate of eligibility for the credit and for procedures to apply for a tax credit certificate. Grants the Department of Commerce and Economic Opportunity the powers necessary or convenient to administer the tax credit. Effective immediately.
Title
INC TX-HIRE ILLINOIS CREDIT
Sponsors
History
Date | Chamber | Action |
---|---|---|
2019-01-09 | Senate | Session Sine Die |
2018-05-03 | Senate | Rule 3-9(a) / Re-referred to Assignments |
2018-04-27 | Senate | Rule 2-10 Committee/3rd Reading Deadline Established As May 3, 2018 |
2018-04-13 | Senate | Rule 2-10 Committee Deadline Established As April 27, 2018 |
2018-03-01 | Senate | Added as Co-Sponsor Sen. Scott M. Bennett |
2018-02-27 | Senate | Assigned to Revenue |
2018-02-27 | Senate | Added as Chief Co-Sponsor Sen. Pamela J. Althoff |
2018-02-16 | Senate | Referred to Assignments |
2018-02-16 | Senate | First Reading |
2018-02-16 | Senate | Filed with Secretary by Sen. Paul Schimpf |
Code Citations
Illinois State Sources
Type | Source |
---|---|
Summary | https://www.ilga.gov/legislation/BillStatus.asp?DocNum=3194&GAID=14&DocTypeID=SB&SessionID=91&GA=100 |
Text | https://www.ilga.gov/legislation/100/SB/10000SB3194.htm |