Illinois Senate Bill 4020 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Partisan Bill (Democrat 3-0)
Status: Failed on January 13 2021 - 100% progression
Action: 2021-01-13 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]

Amends the Illinois Income Tax Act. Creates an income tax credit for an employer who hires a qualified employee to work at a location in the State. Sets forth the amount of the credit. Provides that the credit shall be increased if (i) the qualified employee is hired to work at a location in a disproportionately impacted area or (ii) on the date the qualified employee is hired, the qualified employee resides in a disproportionately impacted area. Limits the total amount of income tax credits that the Department of Commerce and Economic Opportunity may issue over the duration of the program. Provides that the term "qualified employee" means a resident of the State who is hired by the taxpayer to fill a full-time net new job and was unemployed as a result of COVID-19 prior to the date he or she was hired by the taxpayer. Provides that the term "qualified employee" does not include an individual who was furloughed by the taxpayer. Effective immediately.

INCOME TAX-EMPLOYMENT CREDIT

Sen. Ram Villivalam [D]

Sen. William Cunningham [D]

Sen. Suzanne Glowiak Hilton [D]

Date	Chamber	Action
2021-01-13	Senate	Session Sine Die
2021-01-04	Senate	Added as Co-Sponsor Sen. Suzy Glowiak Hilton
2021-01-04	Senate	Added as Co-Sponsor Sen. Bill Cunningham
2021-01-04	Senate	Referred to Assignments
2021-01-04	Senate	First Reading
2021-01-04	Senate	Filed with Secretary by Sen. Ram Villivalam

Chapter	Article	Section	Citation Type	Statute Text
35	5	232	New Code	See Bill Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=4020&GAID=15&DocTypeID=SB&SessionID=108&GA=101
Text	https://www.ilga.gov/legislation/101/SB/10100SB4020.htm