IL SB3738 | 2023-2024 | 103rd General Assembly

Status

Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on February 9 2024 - 25% progression
Action: 2024-04-05 - Rule 2-10 Committee Deadline Established As May 3, 2024
Pending: Senate Revenue Committee
Text: Latest bill text (Introduced) [HTML]

Summary

Amends the Illinois Income Tax Act. Provides that the credit for ex-felons is renamed the credit for returning citizens. Provides that, for taxable years beginning on or after January 1, 2025, if the qualified returning citizen is employed by the taxpayer primarily at a job site in an underserved area, the amount of the credit for the returning citizen is equal to 25% (currently, 5%) of the qualified wages paid by the taxpayer. Provides that the total credit allowed with respect to each qualified returning citizen may not exceed $5,000 (currently, $1,500), except that, if the qualified returning citizen is employed by the taxpayer primarily at a job site in an underserved area, the credit may not exceed $10,000. Makes other changes. Effective immediately.

Tracking Information

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Title

INC TX-RETURNING CITIZEN

Sponsors


History

DateChamberAction
2024-04-05SenateRule 2-10 Committee Deadline Established As May 3, 2024
2024-03-15SenateRule 2-10 Committee Deadline Established As April 5, 2024
2024-02-28SenateAssigned to Revenue
2024-02-09SenateReferred to Assignments
2024-02-09SenateFirst Reading
2024-02-09SenateFiled with Secretary by Sen. Robert Peters

Code Citations

ChapterArticleSectionCitation TypeStatute Text
355216Amended CodeCitation Text

Illinois State Sources


Bill Comments

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